TransMedics has signed to take 498,000 square feet in Somerville, Massachusetts. This is at the Assembly Innovation Park project that remains under development.
One component of the life sciences project, a 12-story commercial research development facility, has finished construction. Already, TransMedics has entered the building, according to the project developer BioMed Realty. Also, the space will serve as the med tech firm's new global headquarters.
According to TransMedics, its corporate headquarters was listed at 200 Minuteman Road in Andover.
Additionally, the Massachusetts-based firm purchased a piece of the parking structure on the campus and a nearby land parcel. According to the company, this will support "future growth."
“At BioMed Realty, our purpose is to deliver mission-critical infrastructure that enables innovators to focus on advancing technology to improve human health," Colleen O’Connor, executive vice president and market lead at BioMed's East Coast & UK markets, said in a statement.
"The Assembly Innovation Park campus was designed to provide flexibility and operational resilience that companies like TransMedics need to accelerate innovation and change lives.”
The full development plans to feature 1.5 million square feet of Class A office and lab space. Assembly Innovation Park will offer green space, a rooftop, wellness amenities and an indoor-outdoor lobby. Also, the site offers proximity to downtown Boston and Kendall Square.
For a while, nearby Boston has been a leader in the life sciences market. In 2024, it led the nation as a recipient of NIH funding, securing $3.46 billion—well ahead of New York City ($2.8 billion), according to a report by Savills. However, the market faces challenges with the federal NIH cuts. The impact it will have on Boston is not yet clear.
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