Published on 5 Mar 2024 on Zacks via Yahoo Finance
Alexandria (ARE) Announces Lease Extension at Kendall Square
Alexandria Real Estate Equities, Inc. ARE recently clinched a renewal and 10-year lease extension with Takeda Pharmaceutical, a longstanding credit tenant, for 222,925 rentable square feet at 75/125 Binney Street at Kendall Square in the Cambridge submarket.
Being a significant early renewal, the lease extension will run through Mar 31, 2040. This move will ensure steady rental revenues from this property for the long term.
Takeda is an R&D-driven & patient-focused pharmaceutical company, providing highly innovative medicines across therapeutic areas. Its long-term commitment to the Alexandria Center at Kendall Square mega campus is demonstrated by its early renewal, which also emphasizes how crucial Alexandria's Labspace infrastructure is.