{"id":686811,"date":"2022-09-20T06:48:09","date_gmt":"2022-09-20T10:48:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\/"},"modified":"2022-09-20T06:48:09","modified_gmt":"2022-09-20T10:48:09","slug":"bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\/","title":{"rendered":"BXP Expands Life Sciences Portfolio in Kendall Square in Cambridge, MA"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b><span class=\"bwuline\">BXP Expands Life Sciences Portfolio in Kendall Square in Cambridge, MA<\/span><\/b><\/p>\n<p class=\"bwalignc\"><i>Completes Acquisition of 125 Broadway &amp; Signs Lease to Redevelop 300 Binney Street<\/i><\/p>\n<p>BOSTON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.bxp.com&amp;esheet=52920351&amp;newsitemid=20220920005312&amp;lan=en-US&amp;anchor=BXP&amp;index=1&amp;md5=f91698174aa6bc7e0b20c6d96698ff89\">BXP<\/a> (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, announced today that it completed the acquisition of 125 Broadway, a six-story, 271,000 square foot laboratory\/life sciences property. BXP purchased the property from Biogen for a gross purchase price of approximately $592.0 million. Biogen has signed a lease for and will continue to occupy the entire property through April 2028. BXP funded the purchase price with cash and borrowings under its line of credit, and it is evaluating opportunities to own the property with one or more joint venture equity partners.\n<\/p>\n<p>\n125 Broadway is adjacent to Kendall Center, BXP\u2019s existing 2.2 million square foot portfolio in the heart of Kendall Square in Cambridge, MA, which is the largest and most important cluster of life sciences companies and research space in the United States.\n<\/p>\n<p>\nIn conjunction with the acquisition of 125 Broadway, BXP and Biogen terminated their existing lease agreement at 300 Binney Street, an adjacent six-story, 195,000 square foot property developed by BXP in 2013, to facilitate the conversion and expansion of the property to 240,000 square feet of laboratory\/life sciences space. BXP also announced that it signed a 15-year lease with a prominent life sciences organization. The lease is expected to commence upon completion of the renovations in late 2024.\n<\/p>\n<p>\n\u201cWe are thrilled to complete this acquisition and continue our longstanding relationship with Biogen,\u201d said Bryan Koop, Executive Vice President, Boston Region, of BXP. \u201cBXP has been an integral member of the Cambridge community since the development of our first property in 1981, and we are pleased to continue to grow and evolve Kendall Center to meet the needs of the life sciences community.\u201d\n<\/p>\n<p><b>About BXP Life Sciences<br \/>\n<br \/><\/b>BXP Life Sciences consists of an existing portfolio of more than three million square feet focused on the specific needs of the life sciences industry, primarily in the leading innovation markets of Boston, Cambridge, and Waltham\/Lexington, Massachusetts, Montgomery County, Maryland, and San Francisco and Los Angeles, California. In addition, BXP has approximately six million square feet of life sciences-focused development opportunities, including approximately one million square feet of current lab developments and redevelopments in process that are expected to deliver in the next 36 months.\n<\/p>\n<p><b>About BXP<br \/>\n<br \/><\/b>Boston Properties (NYSE: BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six markets &#8211; Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP is a fully integrated real estate company, organized as a real estate investment trust (REIT), with more than 50 years of experience developing, owning, managing, and acquiring exceptional properties in dynamic gateway markets. As of June 30, 2022, including properties owned by unconsolidated joint ventures, BXP\u2019s portfolio totals 53.7 million square feet and 193 properties, including 12 properties under construction\/redevelopment. For more information, please visit our website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.bxp.com%2F&amp;esheet=52920351&amp;newsitemid=20220920005312&amp;lan=en-US&amp;anchor=www.bxp.com&amp;index=2&amp;md5=6cedf297553b734506caf2eadebb88cc\">www.bxp.com<\/a> or follow us on <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fboston-properties&amp;esheet=52920351&amp;newsitemid=20220920005312&amp;lan=en-US&amp;anchor=LinkedIn&amp;index=3&amp;md5=b2d2f410c832fcad84dfe09c962f700f\">LinkedIn<\/a> or <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.instgram.com%2Fbxpbostonproperties&amp;esheet=52920351&amp;newsitemid=20220920005312&amp;lan=en-US&amp;anchor=Instagram&amp;index=4&amp;md5=e411c88a2fa3f02367f29f5ee1ab436a\">Instagram<\/a>.\n<\/p>\n<p><i>This press release contains forward-looking statements within the meaning of the Federal securities laws. You can identify these statements by our use of the words \u201cwill,\u201d \u201cexpects,\u201d \u201cintends\u201d and similar expressions that do not relate to historical matters. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, trends, uncertainties and other factors which are, in some cases, beyond BXP\u2019s control and could materially affect actual results, performance or achievements. These factors include, without limitation, BXP\u2019s ability to complete the conversion and redevelopment referenced above on time, within budget or at all, and other risks and uncertainties detailed from time to time in BXP\u2019s filings with the SEC. BXP does not undertake a duty to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.<\/i><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20220920005312r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20220920005312\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20220920005312\/en\/<\/a><\/span><\/p>\n<p><b>At the Company<br \/>\n<\/b><br \/>Rebecca Stoddard<br \/>\n<br \/>Marketing Director, Boston Region<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:rstoddard@bxp.com\">rstoddard@bxp.com<\/a><\/p>\n<p>\nLaura Sesody<br \/>\n<br \/>Vice President, Corporate Marketing &amp; Communication<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:lsesody@bxp.com\">lsesody@bxp.com<\/a><\/p>\n<p>\nHelen Han<br \/>\n<br \/>Vice President, Investor Relations<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:hhan@bxp.com\">hhan@bxp.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Massachusetts United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> REIT Science Other Science Commercial Building &amp; Real Estate Construction &amp; Property<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20220920005312\/en\/1558630\/3\/BXP_Logo_Horizontal-Color-RGB.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>BXP Expands Life Sciences Portfolio in Kendall Square in Cambridge, MA Completes Acquisition of 125 Broadway &amp; Signs Lease to Redevelop 300 Binney Street BOSTON&#8211;(BUSINESS WIRE)&#8211;BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, announced today that it completed the acquisition of 125 Broadway, a six-story, 271,000 square foot laboratory\/life sciences property. BXP purchased the property from Biogen for a gross purchase price of approximately $592.0 million. Biogen has signed a lease for and will continue to occupy the entire property through April 2028. BXP funded the purchase price with cash and borrowings under its line of credit, and it is evaluating opportunities to own the property with one or more &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;BXP Expands Life Sciences Portfolio in Kendall Square in Cambridge, MA&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-686811","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BXP Expands Life Sciences Portfolio in Kendall Square in Cambridge, MA - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BXP Expands Life Sciences Portfolio in Kendall Square in Cambridge, MA - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BXP Expands Life Sciences Portfolio in Kendall Square in Cambridge, MA Completes Acquisition of 125 Broadway &amp; Signs Lease to Redevelop 300 Binney Street BOSTON&#8211;(BUSINESS WIRE)&#8211;BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, announced today that it completed the acquisition of 125 Broadway, a six-story, 271,000 square foot laboratory\/life sciences property. BXP purchased the property from Biogen for a gross purchase price of approximately $592.0 million. Biogen has signed a lease for and will continue to occupy the entire property through April 2028. BXP funded the purchase price with cash and borrowings under its line of credit, and it is evaluating opportunities to own the property with one or more &hellip; Continue reading &quot;BXP Expands Life Sciences Portfolio in Kendall Square in Cambridge, MA&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-20T10:48:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20220920005312r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"BXP Expands Life Sciences Portfolio in Kendall Square in Cambridge, MA\",\"datePublished\":\"2022-09-20T10:48:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\\\/\"},\"wordCount\":721,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20220920005312r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\\\/\",\"name\":\"BXP Expands Life Sciences Portfolio in Kendall Square in Cambridge, MA - 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BXP purchased the property from Biogen for a gross purchase price of approximately $592.0 million. Biogen has signed a lease for and will continue to occupy the entire property through April 2028. BXP funded the purchase price with cash and borrowings under its line of credit, and it is evaluating opportunities to own the property with one or more &hellip; Continue reading \"BXP Expands Life Sciences Portfolio in Kendall Square in Cambridge, MA\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\/","og_site_name":"Market Newsdesk","article_published_time":"2022-09-20T10:48:09+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20220920005312r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"BXP Expands Life Sciences Portfolio in Kendall Square in Cambridge, MA","datePublished":"2022-09-20T10:48:09+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\/"},"wordCount":721,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20220920005312r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/bxp-expands-life-sciences-portfolio-in-kendall-square-in-cambridge-ma\/","name":"BXP Expands Life Sciences Portfolio in Kendall Square in Cambridge, MA - 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