Related Beal completed a 269,000-square-foot lease with global biotechnology company Vertex Pharmaceuticals for 100% of the commercial space at Phase II of its Innovation Square (iSQ) development in Eastern Seaport. The biotech firm relocated its headquarters from Cambridge to 1.1 million square feet at Fan Pier in 2014, and the iSQ lease represents an expansion.
“Vertex was one of the earliest companies to see the potential of the Seaport District as a global life science hub, and we are thrilled that they will be expanding at Innovation Square,” said Related Beal EVP Stephen Faber.
CBRE’s John Lashar and Jon Varholak negotiated for Vertex Pharmaceuticals. Ben Hux, Pete Bekarian and Don Domoretsky of JLL represented Related Beal.
With the 125,000-square-foot Phase I opening last year, iSQ is the first new construction, multi-tenant lab building in the Raymond L. Flynn Marine Park. Phase II is expected to open in 2021.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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