ImmunoGen, Inc. has entered into a lease agreement with Intercontinental Fund III 830 Winter Street, LLC to expand by 18,700 square feet at 830 Winter Street in Waltham, Mass.
The company plans to occupy the additional space around June 2014 in connection with the expansion of existing operations.
The initial lease term for the additional space is until March 31, 2020, which coincides with the initial lease term for the 90,000 square feet of space ImmunoGen, Inc. has leased in the building since July 27, 2007. The company’s option to extend the term of the Original Lease for two additional terms of five years applies to the Additional Space as well.
Located on 16.9 acres in close proximity to Rt. 128 and the Massachusetts Turnpike, 830 Winter Street in Waltham is a Class A Laboratory building totaling 179,855 square feet. It was built in 2000.
Under the terms of the amended lease, ImmunoGen, Inc. will pay annual fixed rent of $671,580 for the first two years, $690,235 for the next two years, and $708,890 for the remainder of the initial lease term for for the additional space.