Boston – Breakthrough Properties, a prominent global developer, owner, and operator of life sciences real estate, has announced that it has secured agreements with several mission-driven biotech companies to occupy One Canal by Breakthrough, its recently redeveloped four-story lab and office building in East Cambridge, Massachusetts.
Prebuilt suites across two floors of the high-quality research and development building have been leased to Larkspur Biosciences, Incendia Therapeutics, and Deep Genomics, and will be fully occupied concurrent with construction completion. Construction on suites for One Canal’s two remaining floors is currently underway, with completion expected in the first quarter of 2025.
One Canal comprises 112,000 square feet of new lab and office space within one of the world’s premier innovation ecosystems. The building offers flexible lab and office layouts, a ground floor lounge, a high-quality fitness center, collaboration spaces on the first and second floors, a building concierge, a winter garden, waterfront views of the canal and park, above-market parking ratio, and onsite retail options.
Breakthrough Properties, a joint venture of Tishman Speyer and Bellco Capital, acquired One Canal in 2021 and has transformed it into a world-class life science research center catering to biotech companies in the heart of the bustling ecosystem of the East Cambridge market.
“We are excited to welcome Incendia, Larkspur Biosciences, and Deep Genomics to the exceptional new ecosystem we have created at One Canal,” said Breakthrough Properties Chief Business Officer Susie Harborth. “These companies are leading the way in next-generation technologies such as AI and machine learning, precision oncology, and RNA-based therapies. We are eager to expand this community of innovative, impact-driven companies at our premier One Canal site.”
“We are delighted to collaborate with Breakthrough in this next chapter of Larkspur’s growth,” said Larkspur CEO Catherine Sabatos-Peyton. “One Canal offers a unique space as a state-of-the-art research building that combines bright, open, modern spaces with purpose-built labs. Our team is excited about the opportunity to work and grow in this space as we focus on our mission to develop novel precision therapies for cancer patients.”
“We are thrilled to be relocating our operations to One Canal,” said Incendia Therapeutics CEO Wendye Robbins. “Working with the Breakthrough team to make this move possible has been a privilege. They were adaptable, understood our critical needs, and exceeded our expectations every step of the way. We look forward to a successful partnership together.”
Situated along the First Street corridor, which connects the Kendall Square MBTA Redline to the new Lechmere Green Line T station, One Canal provides companies with an unparalleled environment surrounded by a neighborhood rich in amenities. It is conveniently located near Downtown Boston’s diverse residential, retail, and dining options, as well as within walking distance of several parks and open spaces, including direct access to the Charles River. One Canal is also adjacent to the redeveloped CambridgeSide Galleria, with neighbors including the Sanofi and Bristol Myers Squibb (BMS) innovation hub.
Tishman Speyer Managing Director Jessica Hughes commented, “Designed to maximize its prime location and limited local availability, One Canal has quickly become a hub for innovative companies that appreciate the rare opportunity to secure ultra-modern lab space within a thriving East Cambridge ecosystem.”
Breakthrough remains a key player in the life science sector, with over five million square feet of projects in the pipeline across the United States and Europe. In Boston, Breakthrough has developed, owns, and manages The 105 by Breakthrough at 105 West First Street. Additionally, Breakthrough is currently developing two life science buildings at the Harvard Enterprise Research Campus in Allston and seeking entitlements for a modern lab and office environment at 232 A Street along the Fort Point Channel waterfront.
Breakthrough’s ongoing commitment to sustainability includes a focus on increasing energy efficiency, reducing carbon emissions, and providing healthy workspaces for users, including aiming for Fitwel and WELL certifications. Breakthrough also aims for LEED Gold certification at its properties in the United States and BREEAM Outstanding certification in all projects across the United Kingdom and EU markets.
The announcement was originally published on Boston Real Estate Times.
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Breakthrough Properties Welcomes Three Biotech Companies to One Canal Development in Cambridge