Enumeral Biomedical Holdings, Inc. has agreed to lease 16,825 square feet of office and laboratory space at 200 Cambridge Park Drive in Cambridge, Mass.
The term of the lease is five years beginning on the term commencement date, which is estimated for March 15, 2015. The landlord, King 200 CPD LLC, has agreed to provide a “turn-key” build out of the premises.
Under the terms of the Lease, the initial base rent will be $42.50 per square foot, or approximately $715,062 on an annual basis, which will increase incrementally, reaching approximately $804,739 on an annual basis in the fifth year of the Term.
200 Cambridge Park Drive is an office/laboratory building in a highly visible park setting in the Alewife area of Cambridge, according to the website for King Street Properties. Originally constructed for Pfizer, the building features a vivarium on the first floor and a mechanical penthouse on the seventh floor. In addition, 200 Cambridge Park Drive offers a headquarters-quality feel with floor plates that are ideally sized to accommodate a wide range of tenant requirements.
A program of substantial renovations to the common areas is underway and will be completed in Q1 2015.