162,000 Square feet of space signed at Technology Square
Today at 400 Technology Square in Cambridge leases totaling 162,000 square feet have been signed. The involved companies were as follows:
- The Massachusetts Institute of Technology (MIT),
- The Ragon Institute
- Harvard University
- Warp Drive Bio
- Aramco Services Co.
Alexandria Real Estate Equities (NYSE: ARE), an owner, operator, and developer of life science office and lab space, is in the final stages of a redevelopment of the property from a dated office facility into an efficient laboratory/office complex, the California-based company said. (Boston Business Journal)
It has been said that the going rate for office space in Cambridge is $49.80 per square foot, but the exact details of the leases we no disclosed.
One of seven lab and office facilities comprising the 1.2 million square foot Alexandria Technology Square, 400 Technology Square is near Massachusetts Institute of Technology, the Broad Institute and the Whitehead Institute. (Boston Business Journal)
When the offices are complete the University will have increased by 18,000 square feet. The completed facility will include two restaurants, conference space, a parking garage, a fitness center and a courtyard.