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Cambridge, MA, (August 18, 2020) – DivcoWest announced today that it has signed a 360,000 squarefoot lease with Bristol Myers Squibb (NYSE:BMY) at 250 Water Street in Cambridge Crossing (CX), the new and connected neighborhood at the intersection of Cambridge, Somerville, and Boston. The new building is currently under construction and is expected to be complete in late 2022. Bristol Myers Squibb plans to combine its Cambridge presence at the state-of-the-art laboratory and office building at 250 Water Street by the end of the first half of 2023. Dedicated to helping patients prevail over serious diseases, the biopharmaceutical company will join Philips North America, Sanofi, and Cerevel Therapeutics in the vibrant CX community.
“At Cambridge Crossing (CX), our mission is to create a home for innovative companies that inspires collaboration and scientific breakthroughs. We are thrilled that global leader Bristol Myers Squibb has chosen CX as their future home,” said Mark Roopenian, Managing Director at DivcoWest. “CX is designed to be a network of forward-thinking changemakers like Bristol Myers Squibb, and we are proud to create a space for them at 250 Water Street so that they can pursue discoveries that positively transform patients’ lives.” With the addition of Bristol Myers Squibb, approximately 1.7 million square-feet of commercial space is now leased and preleased at CX. Remaining space available for lease at CX includes 110,000 SF of science and technology space at 250 Water Street and 600,000 SF in two future buildings.
“We are pleased to welcome Bristol Myers Squibb to the City of Somerville, and look forward to having them as a community partner for many years to come. I want to thank Bristol Myers Squibb for making Cambridge Crossing their future research campus and DivcoWest for their commitment to building this innovation center in our communities,” said Somerville Mayor Joe Curtatone.
Neighboring Kendall Square, and in close proximity to academic institutions including MIT and Harvard, the life science community at CX is thoughtfully designed to be a vibrant neighborhood that inspires collaboration, innovation, and connection. Once complete, the community will provide a one-of-a-kind place for employees, residents, and neighbors connected to two MBTA stops and surrounded by 11 acres of open space, an eclectic food scene, neighborhood retail, and more than 3,000 residences in a range of apartment and condominium buildings.
“We are very pleased with Cambridge Crossing’s progress,” said Louis DePasquale, Cambridge City Manager. “We particularly thank DivcoWest for its support of the Green Line and its ability to attract world class research tenants to Cambridge Crossing.”
Bristol Myers Squibb was represented in this transaction by Bob Richards of Cushman Wakefield in collaboration with Bob Morford of Morford and Dodd’s Realty.
