BOSTON-Venture capital firm Polaris Partners is moving its corporate headquarters to the Fallon Co.'s Fan Pier. Lease terms were not disclosed; the deal was brokered by CBRE New England and Richards Barry Joyce & Partners.
Polaris has leased the 16,000-square-foot 10th floor of Fan Pier's One Marina Park Drive. The company will begin to occupy the space in the second quarter of 2014 and ultimately move employees from its current location in suburban Waltham, MA to Fan Pier by early 2016.
“The excitement continues to build around Boston's Innovation District and we are thrilled to be located on the waterfront in the heart of this energetic and growing region,” says Dave Barrett, general managing director at Polaris. “Fan Pier is within minutes of more than two dozen of our portfolio companies, allowing us to maximize efficiencies and be able to host more local entrepreneurs in our offices.” The company specializes in the healthcare and technology sectors and currently has $3.5 billion of assets under management.
Polaris joins a growing list of VC firms that have relocated to Boston's Seaport district in response to the growing number of technology, biotech and professional services companies that have recently moved into the area. Battery Ventures announced plans last year to move from Waltham to Fan Pier, where it will join energy management company EnerNOC and Vertex Pharmaceuticals. The latter is slated to move its global headquarters to two build-to-suit commercial towers on the site early next year.
Fallon began constructing the 21-acre Fan Pier project in 2007. When it's completed, Fan Pier will span more than three million square feet of residential, commercial, hotel, retail and cultural space.
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