Life sciences real estate operator and developer Alexandria Real Estate Equities, Inc. (AREE) announced that it would accelerate delivery of the Moderna Science Center building at 325 Binney St. in Cambridge, Mass.
Set to deliver in November 2023, the project will reportedly also be delivered under budget, which will mark a significant contribution to Alexandria’s incremental annual net operating income beginning in Q4 2023.
Moderna — a longstanding strategic AREE partner for more than a decade — selected the state-of-the-art facility to serve as its new global headquarters and support core research and development operations as the company makes progress on a pipeline of mRNA medicines that leverage its paradigm-shifting mRNA technology to address a wide range of diseases.
Located on the Alexandria Center® at One Kendall Square mega campus in the heart of the vibrant Kendall Square life sciences ecosystem, the Moderna Science Center incorporates more than 462,000 rentable square feet of Class A+ life sciences office space in Cambridge, Mass.
“We value our longtime strategic relationship with Alexandria, and it has been a privilege to work with their team to develop our new headquarters and science center, designed to be the most sustainable laboratory building in Cambridge,” said Jamey Mock, chief financial officer of Moderna. “As we continue to innovate and grow our world-class mRNA platform, our future home will enable us to keep delivering on the promise of mRNA science and retain and recruit the best talent from the Massachusetts life science sector, while also minimizing our environmental footprint.”
The project aims to earn LEED Zero Energy; LEED Platinum Core & Shell; Fitwel Life Science; and WiredScore Platinum certifications with ultra-efficient building features, such as the implementation of a geothermal system to reach a 92% reduction in fossil fuel use and 100% renewable electricity for an estimated 97% emissions reduction.
Additionally, the property design includes walking paths and open outdoor areas to promote physical and mental well-being. It also integrates cutting-edge laboratory and non-scientific space with engaging gathering spaces that foster collaboration and disruptive innovation.
“Moderna is an exceptional example of a transformative company that has grown with Alexandria over many years, and we are immensely proud to have been able to accelerate delivery of their mission-critical infrastructure at 325 Binney Street,” said Hunter L. Kass, co-president and greater Boston regional market director of Alexandria Real Estate Equities, Inc. “We are also honored to receive a Visionary Award from the Cambridge Chamber of Commerce for developing a dynamic workspace that will support Moderna’s tireless efforts in the continued fight against COVID-19, as well as their mission to deliver the greatest possible impact to people through mRNA medicines.”
Leading technological innovation across the Boston metropolitan area has placed the region at the top of the list for best Northeastern U.S. metros for tech. Home to world-class academic institution MIT — as well as a strong biotechnology, robotics and computer science scene — Boston has a lot to offer to companies and professionals in various technology fields. Additionally, tech workers in the Boston metropolitan statistical area have the second-highest median earnings among Northeastern innovation hubs. Furthermore, the Boston metro also boasts the highest tech employment density in the region with nearly 60 out of every 1,000 jobs here being in a computer or mathematical occupation.
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