Synageva BioPharma Corp. (NASDAQ:GEVA) has amended its lease with its landlord, The Trustees of Hayden Office Trust, and expanded its currently-leased corporate headquarters at 33 Hayden Avenue in Lexington, Mass. by 29,316 rentable square feet.
The total combined space subject to the lease, including the additional space, will consist of 80,872 rentable square feet. The rent for the additional space will be $22.50 per rentable square foot plus certain operating expenses and taxes.
Synageva anticipates that it will occupy the additional space in the building upon the completion of building modifications, which is expected to be in June of this year.
Synageva will have the right to occupy the entire space upon the completion of the building modifications, but it will pay rent on only 9,524 rentable square feet for the first two months and on 19,048 rentable square feet for the following eight months before paying rent on the full 29,316 rentable square feet thereafter.
The initial term of the lease amendment begins upon occupying the additional space and runs through December 2019, concurrent with the original lease.
Synageva has an option to extend the Lease for two separate but successive periods of three years each.
33 Hayden Avenue, 92 Hayden Avenue, and 100 Hayden Avenue are located directly off Route 2, five miles west of Cambridge, with easy access to Route 128, according to bostonproperties.com, which developed the 80,128 square foot property in 1979. Situated on a total of 22.6-acres, the three Class A office buildings feature full-height atriums and a total of 569 surface parking spaces.