Foundation Medicine Expanding in Cambridge, MA

Foundation Medicine, Inc., a molecular information company, has amended its lease with landlord ARE-MA Region No. 50, LLC for the Company’s headquarters at 150 Second St in Cambridge, Mass.

Under the lease amendment, Foundation Medicine has agreed to rent an additional 8,164 square feet of office and laboratory space on the first floor of the building. The company will pay an annual base rental rate of $59.00 per square foot for the additional space beginning November 1, 2014.

The lease rate escalates 3 percent annually on May 1. The base term of the additional space expires on February 28, 2021.

Jones Lang LaSalle and Transwestern/RBJ brokered the deal, according to the lease.
foundation medicine lease
When the lease amendment is executed, Foundation Medicine will occupy a total of 69,755 rentable square feet in the building.

Alexandria Real Estate Equities, Inc. acquired 150 Second St in Cambridge in the fourth quarter of 2013 for $94.5 million, or about $766 per square foot, a couple months after Foundation Medicine, Inc. began occupying about half the 123,000 square foot building, according to CoStar. The LEED Platinum certified building was developed by Skanska and delivered in 2012.