Joe Flaherty and Tucker Hansen of Meredith & Grew represented property owner Forest City Enterprises. Greg Larsen and Steve James of NAI Hunneman represented Gene Logic. Lease rates for this deal were not available, but the average asking rent for lab space in the area is about $36 per sf.
The Clark Building, located at 38 Sidney St., is a five-story, 122,000-sf biotech site located within University Park at MIT. The park is a campus environment consisting of 2.3 million sf located directly adjacent to MIT. With this deal, the Park is now 100% leased. Among its major tenants are Millennium Pharmaceuticals, Alkermes, Genzyme, Partners HealthCare, ARIAD Pharmaceuticals and Acambis.
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