CBRE Arranges 78,000 SF Lab Space Lease at 3 Van de Graaff Drive in Burlington, MA
Fractyl Health More Than Doubles Lab Space with Relocation from 17 Hartwell Avenue in Lexington, MA
September 20, 2022
The CBRE team of Alex Plaisted, Ryan Romano and Tom Hovey spearhead the leasing campaign at the property and negotiated the lease transaction on behalf of the ownership, Jumbo Capital and Apollo Global Management.
“GenLabs offered Fractyl Health the unparalleled opportunity to house its operations in one of Burlington’s premier properties at the epicenter of the area’s next life sciences hub,” said Mr. Plaisted. “We’re pleased to have a major life sciences company like Fractyl Health as one of our project’s anchor tenants. In addition, the newly built lab space is ideally located, offering easy access to the Boston and Cambridge markets.”
“This lease kicks off our lab conversion project in a big way,” said Nick Trocki, Vice President at Jumbo Capital. “The ongoing core and shell lab conversion will provide lab ready infrastructure for Fractyl Health and other life science tenants to flourish and grow. We are excited to bring this space to life and see Fractyl Health succeed.”
“Partnering with GenLabs has afforded us the opportunity to build out our headquarters and expand our operations in Massachusetts,” said Harith Rajagopalan MD PhD, Co-Founder and CEO of Fractyl Health. “As a life science company developing novel devices and therapies to treat type 2 diabetes, we believe our new facility in Burlington, MA, will help fuel the next phase of our growth.”
Totaling 320,000 sq. ft., GenLabs is currently being renovated into a Class A, state-of-the-art lab building. The property boasts 16’+ ceilings, private terraces, a private landscaped courtyard, gym, and cafeteria, among other features attractive to life sciences tenants.
GenLabs is just a five-minute walk to Wayside Commons and 1.5 miles from the Burlington Mall and the 3rd Ave./Middlesex Turnpike - offering a wide variety of restaurants, retail, service and lifestyle options. The property is 0.5 miles from the Interstate 95/Route 3 interchange, centrally located between Interstate 93 (4.6 miles) and Route 2 (5.3 miles), six miles from Woburn’s Anderson Regional Transportation Center, and has direct MBTA bus access from Van de Graaff Drive to Boston and Cambridge, offering seamless transportation options.
Austin Barrett at T3 Advisors represented Fractyl Health in the lease negotiations.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.