Vertex Extends Lease in Boston’s Seaport District to 2044

Having already decided to renew its 1.1-million-square-foot headquarters lease at 50 Northern Ave. and 11 Fan Pier Blvd. in Boston, Vertex Pharmaceuticals has doubled down on its commitment to the space. Vertex’s existing lease with The RMR Group, which expires in December 2028, was extended for approximately 15 years through June 2044.

“The Vertex lease extension exemplifies the successful execution of The RMR Group’s strategy to create value for our clients,” said Adam Portnoy, president and CEO of RMR. “We have cultivated a strong relationship with Vertex, which has resulted in their recommitting to their flagship location in Boston’s Seaport District for a 15-year lease extension that enhances the value of our clients’ assets. We look forward to continuing our longstanding relationship with Vertex and providing them with a supportive environment for Vertex to pursue transformative medicines for people with serious diseases.”

The properties leased to Vertex are owned by a joint venture, for which RMR provides asset and property management services, and in which Diversified Healthcare Trust, an RMR client, owns a 10% equity interest.