View All News
Cambridge, MA, (Aug 07, 2019) – DivcoWest announced today that it has signed a 59,865 square-foot lease with Cerevel Therapeutics at Cambridge Crossing (CX), the new and connected neighborhood at the intersection of Cambridge, Somerville, and Boston. Dedicated to bringing cutting-edge solutions to individuals impacted by nervous system diseases, the biopharmaceutical company will join Philips North America at 222 Jacobs Street in 2020, making it the third fully leased commercial building at CX.
“Cerevel Therapeutics is a visionary company committed to making meaningful differences in patients’ lives and we are thrilled to welcome them to Cambridge Crossing,” said Mark Roopenian, Managing Director at DivcoWest. “At CX we are building a hub of innovation that supports a diverse and collaborative ecosystem of small, mid-size, and large life science and tech companies, and Cerevel Therapeutics is well-positioned for growth within our community.”
Cerevel Therapeutics is focused on the development of leading-edge treatments for those living with neurological and neuropsychiatric diseases. The company is advancing a diversified portfolio of investigational therapies designed to address a broad range of central nervous system diseases, including Parkinson’s, Alzheimer’s, epilepsy, schizophrenia, and addiction.
“With its proximity to leading life science companies, academic medical centers, and financial institutions, Cambridge Crossing will be a terrific location for Cerevel Therapeutics during this critical phase of growth and expansion,” said Tony Coles, executive chairperson of Cerevel Therapeutics. “The state-of-the-art office and laboratory space coupled with convenient access to public transportation and unique amenities will be key factors that help us continue to attract and retain top talent.”
With the addition of Cerevel Therapeutics, approximately 1.3 million square-feet of commercial space is now fully leased at CX, and a fourth building is now under construction, a 504,000 square-foot science and technology building at 250 Water Street. 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 collaborative neighborhood that inspires brave ideas and innovations of tomorrow, creating a positive impact on human lives. 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 an eclectic food scene, neighborhood retail, and over 3000 residences in a range of apartment and condominium buildings.
Cerevel Therapeutics was represented in this transaction by Don Domeretsky and Ben Heller, both Managing Directors of JLL.
###
About Cambridge Crossing
Cambridge Crossing (CX) is a 43-acre, 4.5 million-square-foot transit-oriented neighborhood located at the intersection of Cambridge, Somerville, and Boston. Once complete, CX will offer 2.1 million-square-feet of state-of-the-art science and technology space, 2.4 million-square-feet of residential space that includes approximately 2,400 new units in addition to the 2,500 existing units in the neighborhood, and 100,000 square-feet of local and authentic retail for the community to enjoy. Eleven acres of activated open public and green space, including a central common, will benefit the thousands of incoming employees, residents, and neighbors adding to the vibrant and innovative East Cambridge and Kendall Square communities, and the multiple modes of transportation including two MBTA lines will provide ease of accessibility. Developed by DivcoWest and designed by a renowned team of local architects, CX buildings and the neighborhood as a whole will be LEED certified and will be the second Wired Score Certified Neighborhood development in the country providing seamless connectivity. For more information and updates, please visit www.cambridgecrossing.com, and follow along on Instagram, Facebook, LinkedIn, and Twitter.
About DivcoWest
DivcoWest, founded by Stuart Shiff, is a vertically-integrated operator, owner, developer, and real estate partner to the innovation economy. Since its inception, DivcoWest and its predecessor have acquired more than 44.7 million square feet of commercial space located primarily in U.S. coastal innovation markets. The current real estate portfolio includes existing and development properties across office, R&D, lab, industrial, retail, and multifamily. Headquartered in San Francisco, DivcoWest has corporate offices in Boston, Los Angeles, Washington, DC, and New York, as well as numerous property management locations. To learn more, visit www.divcowest.com.
About Cerevel Therapeutics
Cerevel Therapeutics (www.cerevel.com) is dedicated to bringing leading-edge solutions to people impacted by nervous system diseases. The company has a diversified pipeline comprising three clinical-stage investigational therapies and several pre-clinical compounds with the potential to treat a range of nervous system diseases, including epilepsy, Parkinson’s, Alzheimer’s, schizophrenia, and addiction. Headquartered in the Greater Boston area, Cerevel Therapeutics is fueled to advance its current research and development programs while exploring new modalities through internal research efforts, external collaborations, or acquisitions. LinkedIn Twitter Facebook
Media Contact: DivcoWest/Cambridge Crossing
Anna Rabin
Solomon McCown & Company
Direct: 617-933-5282
Cell: 857-248-5098
[email protected]