Deutsche Finance America Announces Flagship Pioneering Lease at Boynton Yards
DENVER (March 24, 2021) – Deutsche Finance America (“DFA”) is pleased to announce that Flagship Pioneering, the life sciences platform company headquartered in Cambridge, Massachusetts, has executed leases totaling more than 208,000 square feet at 101 South Street, the first life sciences building at the master-planned Boynton Yards campus in Somerville, Massachusetts.
Boynton Yards is a 1 million square foot science and innovation campus being developed by DFA and two partners, a global investment firm and a Boston-based life sciences developer. The campus is master-planned for three purpose-built lab office buildings, of which 101 South Street is the first. The property is less than a mile away from Kendall Square, where Flagship has been a longtime resident and community member, and will be served by the MBTA Green Line Extension scheduled to open in late 2021.
The expansion will increase Flagship’s overall footprint of 1.5 million square feet and will be used as both lab and office space by the Flagship-founded companies Tessera Therapeutics, Cellarity, LARONDE, and others, with occupancy scheduled for late 2021. Flagship has the option to expand into the remaining 71,000 square feet at 101 South Street, and a further expansion option for more than 300,000 square feet at the second phase of Boynton Yards.
As quoted in the Boston Real Estate Times: “Flagship’s expansion into Somerville gives a number of our companies the space they need for their critical growth trajectories while remaining close to Flagship’s wider ecosystem of 40-plus companies within Cambridge,” said Christine Heenan, senior partner at Flagship Pioneering. “Flagship is excited to be one of the first entrants into this emerging community for life science companies in Somerville. We are excited about what the future will hold there, for Flagship and for Somerville.”
“Somerville is committed to the life science, healthcare, and technology industries and Boynton Yards is critical infrastructure that enables those industries to thrive here,” said Somerville Mayor Joseph A. Curtatone. “That Flagship Pioneering, one of Kendall Square’s preeminent life science companies and founders of Moderna, is one of the first tenants of this new development is a testament to the innovative community we are building in Somerville and we welcome their growth and investment in our city.”
ABOUT DEUTSCHE FINANCE AMERICA
DFA is part of Deutsche Finance Group, a leading global investment management firm active since 2005 with over $9 billion of assets under management and investments with exposure in over 47 markets. The Group specializes in private market investments in real estate and infrastructure. DFG has over 120 employees and is headquartered in Munich with offices in London, Denver, Zurich, Madrid and Luxembourg. The Group is privately owned and individual companies in the group are regulated by the Federal Financial Supervisory Authority of Germany, BaFin.
CONTACT
Jason Lucas
Managing Partner, Deutsche Finance America
255 Fillmore St, Suite 200, Denver, Colorado 80206
j.lucas@deutsche-finance.com