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Boston & New England  + Boston  + Office  |  July 10, 2024
Emily Fu
By: Emily Fu

Vertex Renews 1.1M-SF Boston Headquarters 

Vertex Pharmaceuticals has decided to renew its 1.1 million-square-foot lease at 11 Fan Pier Blvd. and 50 Northern Ave. in Boston’s Seaport District, where it has been headquartered since 2014. The lease, originally set to expire in 2028, was renewed after Vertex explored relocation options. The Fan Pier building is owned by Newton-based RMR Group, which purchased it from The Fallon Co. in 2014 for $1.1 billion. 

In addition to its headquarters, Vertex has expanded its Seaport presence by moving into 269,000 square feet at 316-318 Northern Ave. in 2020 and signing a lease for 344,000 square feet at 20-22 Drydock Ave. in 2022. This latter project, developed by Related Beal, is set to break ground soon. 

The headquarters renewal comes amid a slowdown in the life sciences sector, with 9.7 million square feet of lab space under construction in Boston, half of which is expected to be delivered by the end of 2024, according to data from CBRE. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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