Boylston Properties A rendering of what the nine-story 100 Forge building at Arsenal Yards will look like. Developers are creating 165,000 sq. ft. of space for biotech companies.
The following announcement was provided by Boylston Properties:
Boylston Properties, a Boston-based developer of mixed-use destinations, today announced that 100 Forge, its 165,595 s.f. life sciences building in the heart of Arsenal Yards in Watertown, is fully leased.
On Nov. 9, the development, construction and new tenant teams celebrated with a “topping-off” ceremony – placing the last steel beam on the ninth floor of the future all-glass building. With access to abundant food, retail, entertainment, and green space amenities, as well as beautiful views of the Boston skyline and Charles River, 100 Forge will be the new home to five of the most innovative life sciences companies in the Greater Boston area.
With Arsenal Yards nearing the end of construction, life sciences companies are drawn to 100 Forge for its prime location within the 1 million s.f. mixed-use campus, in order to recruit and retain the best talent to develop their science and further grow their companies. The following life sciences companies have signed leases, filling all of 100 Forge:
• Abata Therapeutics – signing a 23,155-s.f. lease for floor 2 of 100 Forge, Abata is focused on translating the biology of regulatory T cells (Tregs) into transformational medicines for patients living with severe autoimmune and inflammatory diseases. Abata launched in 2021 with $95 million in Series A financing led by Third Rock Ventures and participation from a diverse syndicate of investors, including ElevateBio, Lightspeed Venture Partners, Invus, Samsara BioCapital, and the JDRF T1D Fund. Abata is moving to 100 Forge from Kendall Square in Cambridge.
• Remix Therapeutics – signing a 43,417-s.f. lease for floors 3 and 4 of 100 Forge, Remix is a biotechnology company developing small molecule therapies designed to reprogram RNA processing and address the underlying drivers of disease. Remix, launched in 2019, has raised a total of $81 million. The most recent Series A financing was led by Foresite Capital with participation from seed investors Atlas Venture and The Column Group, as well as Arch Venture, Casdin Capital and Alexandria Venture Investments. Remix is moving to 100 Forge from Kendall Square in Cambridge.
• Curie Therapeutics – signing a 39,661-s.f. lease for floors 5 and 6 of 100 Forge, Curie is building the leading, fully integrated oncology company harnessing novel precision radiopharmaceuticals to treat solid cancer. Curie is a series A stage company with a seasoned team of investors and founders including Atlas Venture, RA Capital Management, and Access Biotechnology.
• Vigil Neuroscience – signing a 19,734-s.f. lease for floor 7 of 100 Forge, Vigil is harnessing the power of microglia for the potential treatment of neurodegenerative diseases. Vigil recently closed a $90 million Series B financing led by Vida Ventures with participation from existing investors Atlas Venture, Northpond Ventures and Hatteras Venture Partners as well as several new investors. Vigil is moving to 100 Forge from Kendall Square in Cambridge.
• Affini-T Therapeutics – signing a 39,628-s.f. lease for floors 8 and 9 of 100 Forge, Affini-T is a venture-backed biotechnology company committed to engineering T cell therapies intended to provide patients suffering from cancer with curative therapeutics. Affini-T is moving to 100 Forge from 343 Arsenal St. in Watertown.
In partnership with J.P. Morgan, Boylston Properties revealed plans for 100 Forge in 2020 as the first purpose-built lab building in Watertown and also the tallest at 130 feet, affording tenants with one of the greatest views of the Charles River to the south, the Boston skyline to the east as well as a newly complete Arsenal Yards and renovated Arsenal Park to the west. 100 Forge was designed by architectural firm Ayers Saint Gross, with construction managed by Erland Construction, breaking ground in February 2021, expecting to deliver to tenants for individual buildouts beginning in Spring of 2022 for late 2022 occupancy. In addition to the important “topping off” milestone this week, Boylston Properties is celebrating now being fully leased with Cushman & Wakefield, of which Duncan Gratton and Elizabeth Donatoni have managed the owner side of all life science leasing at the property. Vigil Neuroscience, Affini-T, Remix, and Curie Therapeutics were all represented by Evan Gallagher and John Carroll III from the Colliers Boston Life Sciences team. Abata Therapeutics was represented by Mark Winters from Newmark.
“There is no shortage of momentum in the Greater Boston life sciences community, with critically important medical and scientific discoveries happening daily — and those of us in the real estate world are privileged to meet increasing demand by developing best-in-class headquarters for innovation to take place” said Bill McQuillan, Founding Principal of Boylston Properties. “We reached a major construction milestone at 100 Forge this week, and in less than a year, we will welcome Abata Therapeutics, Remix Therapeutics, Curie Therapeutics, Vigil Neuroscience, and Affini-T Therapeutics. We are thrilled to be fully leased and we know they will love being a part of the community already underway at Arsenal Yards.”
“Tenants will love the exceptional building itself, but we recognized immediately that being in the middle of Arsenal Yards is what will draw life science to 100 Forge,” said Duncan Gratton of Cushman & Wakefield. “Grabbing dinner after work at Buttermilk & Bourbon, or lunch at Sweetgreen, and groceries at Roche Bros. – that’s an unmatched amenity mix that attracts and retains talent for these fast-growing companies.”
Arsenal Yards is an exciting new $700 million neighborhood developed by Boylston Properties and The Wilder Companies and slated to complete by the end of 2021. Life science companies can access over 50 curated retailers and restaurants, a Majestic 7 movie theater, 302 contemporary apartments, and a 146- room Hampton Inn & Suites by Hilton. Commuting is simple with easy access to public transportation, free shuttles to Harvard Square, Bluebike stations, bike paths, and free parking.
The East End of Watertown is one of the fastest growing life science clusters in Greater Boston. According to Cushman & Wakefield’s third quarter bioSTATus report on the greater Boston market, the vacancy rate for existing laboratory space now stands at 2.3 percent with vacancies in Cambridge at near zero. Companies are very realistic about searching outside of Kendall Square for other high-density life sciences clusters that offer similar proximity to amenities, educational institutions, investors, and like- minded companies and talent. The East End of Watertown currently boasts 1.2 million s.f. of life science space, with 1.7 million s.f. of space under development. 100 Forge will be in the thick of it, with Arsenal Yards as the central retail, food and beverage amenity for all. The Arsenal Yards campus will boast close to 400,000 s.f. of life science space when all is said and done, including 108,000 sf at 200 Arsenal Yards Blvd., currently home to SQZ Biotechnologies, Arkuda Therapeutics and Kymera Therapeutics; 165,600 sf at 100 Forge; and 129,000 s.f. at 500 Forge, transforming the former One Arsenal Building at the corner of Arsenal St. and Forge Road.
About 100 Forge
100 Forge is a new purpose-built, nine-story, 165,600 s.f. lab building in Watertown, MA, located right in the heart of Arsenal Yards, an exciting new neighborhood being developed by Boylston Properties. Scientists will have complete access to its over 50 curated retailers and restaurants, a Majestic 7 movie theater, Roche Bros. grocery store, 300 contemporary apartments, and a 146-room Hampton Inn & Suites by Hilton. With the Charles River in its backyard and easy access to public transportation, private shuttles, bike paths, and free parking, 100 Forge provides quick access to the brightest minds in Cambridge and Boston, and leads the way for a cluster of more than 25 life science companies in Watertown. 100 Forge is a place where science comes to life and people love to work. For more information, please visit www.100Forge.com.
About Boylston Properties
Boylston Properties is a Boston-based real estate developer of mixed-use places including retail, residential, hotel, corporate, and life science lab buildings. With four decades of experience and a contemporary vision, their distinctive projects have become part of Greater Boston’s new urban landscape. For more information, please visit www.boylstonproperties.com.
Lots of new property tax revenue from all of the Arsenal Street projects – commercial + residential.
How much in total now from Watertown Square up to the river?