Cushman & Wakefield, a leading global real estate services firm with extensive experience in the Greater Boston Market, has signed SQZ Biotech to lease space at Arsenal Yards, a large mixed-use project now under construction in Watertown. Already located in Watertown, the young life sciences company will triple its size when it moves into 63,477 square feet of office space and research in Arsenal Yards at the end of the year. SQZ recently received a significant round of venture capital funding and signed a partnership deal with Roche Pharmaceuticals.
“This is our 6th lease of new life science space totaling 250,000 square feet in Watertown in the past 18 months,” said Duncan Gratton, Executive Director at Cushman & Wakefield. “This continues a trend of life sciences companies choosing Watertown as an alternative to Cambridge.”
Gratton and Elizabeth Donatoni of Cushman & Wakefield represented ownership, a joint venture of Boylston Properties, J.P. Morgan and The Wilder Companies, while SQZ Biotech was represented by Juliette Reiter and Mark Winters of Newmark Knight Frank.
“When you look at the needs of life sciences companies and the proximity to Cambridge, it’s not surprising to see Arsenal Yards is becoming the place to turn to,” said Bill McQuillan, President of Boylston Properties. “We look forward to working with SQZ Biotech and seeing the company continue to grow.”
“For a young life sciences company, Watertown is the perfect place to be,” said Armon Sharei PhD, CEO and Founder of SQZ Biotech. “Being able to triple our size while staying in Watertown was the ultimate win-win for our company. The space at Arsenal Yards is everything we wanted.”
Located along the Charles River in the up-and-coming East End neighborhood, Arsenal Yards boasts a redefining of urban life with curated shops, eclectic dining, fresh groceries and entertainment. By 2020, Arsenal Yards will be a thriving, new-urban village comprised of more than 1 million square feet of development that will include 250,000 square feet of office and life science space, 425 contemporary residences and a 150-room Hampton Inn & Suites by Hilton. The development also will include dedicated green space, access to a revitalized Arsenal Park and connection to the Watertown-Cambridge multi-use pathway.
About Boylston Properties
Boylston Properties is a 34-year old Boston-based real estate developer of mixed-use places including retail, residential, hotel, corporate, and lab buildings. With four decades of experience and a contemporary vision, our distinctive projects have become part of Greater Boston’s new urban landscape. For more information, please go to www.boylstonproperties.com.
J.P. Morgan Asset Management
J.P. Morgan Asset Management is a leading asset manager for individuals, advisors, and institutions. J.P. Morgan Asset Management investment professionals are located around the world, providing strategies that span the full spectrum of asset classes. As one the largest asset and wealth managers in the world, with assets under management of $1.7 trillion, J.P. Morgan provides global market insights and a range of investment capabilities that few other firms can match.
About The Wilder Companies
The Wilder Companies is a Boston-based retail real estate firm specializing in mixed-use developments, community centers, urban properties, and regional and super-regional malls. Wilder’s mission is to create vibrant lifestyle centers, urban properties and mixed-use developments that exceed the expectations of customers, retailers and investors. The Wilder Companies, it its 40-year history, has developed, managed, and leased over 20 million square feet of retail properties throughout the United States and Puerto Rico. To learn more, visit https://www.wilderco.com/.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.