A biotech company currently located in Cambridge’s Kendall Square signed a lease to move into Watertown’s Arsenal on the Charles.
Constellation Pharmaceuticals signed a 10-year lease with Alexandria Real Estate Equities, the owner of the complex on Arsenal Street, according to a report on Bisnow.
The company specializes in developing novel therapeutics to be used in cancer treatment. Constellation will occupy on 79,000 sq. ft. of space at 100 Talcott Ave., one of the buildings in the complex that Alexandria purchased from Athenahealth for $526 million last year.
According to Bisnow, the lease rate will be nearly $71 per sq. ft., which is about $34 less than the going rate in Kendall Square.
See the Bisnow story by clicking here.