Ryan Weber and Christopher McMahon, senior managing directors at Newmark, represented Bolton Street Partners LLC, an affiliate of Triad Alpha Partners, in six recent transactions totaling 11,447 square feet at 85 Bolton Street, Cambridge, Massachusetts. The owner recently converted the former Wyeth Research Center to Walden Square Science Center, after noting the growing demand for turn-key laboratory space at affordable rates in Cambridge.
Venture capital firms have taken note of the trend of large pharmaceutical companies acquiring research and development (R&D) instead of having their entire R&D in-house. “These startups need space quickly, and Walden Square Science Center has capitalized on the demand by delivering functional laboratory space in a timely manner,” said Weber.
The newest residents of Walden Square Science Center are Aura Biosciences; SiEnergy Systems, LLC; Novogy, Inc.; Polyjoule, Inc.; The Water Initiative, LLC and Eton Bioscience, Inc. After welcoming these new tenants, Walden Square Science Center is now at close to 70% occupancy and has approximately 10,000 square feet of available laboratory space. The remaining space can accommodate tenants from 1,000 SF up to 10,000 SF.
About Newmark
Newmark is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank operate from over 220 offices in established and emerging property markets on six continents. With a combined staff of 7,300 and revenues last year exceeding $861 million, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit www.newmarkkf.com.