Alexandria Real Estate Equities Inks Boston Full-Building Lease to Novo Nordisk

Life sciences space operator Alexandria Real Estate Equities has signed health care giant Novo Nordisk as the full-building tenant for its 60 Sylvan Road property totaling 165,000 square feet of life sciences office space in Waltham, Mass. Part of the Waltham life sciences megacampus, 60 Sylvan Road is currently being redeveloped and is expected to be delivered to Novo Nordisk in 2025.

Alexandria’s new world-class tenant is a global health care and pharmaceutical company based in Denmark. Novo Nordisk’s flagship product in the U.S. is injectable semaglutide, of which the company produces two drugs: Ozempic (approved by the FDA in 2017 for glycemic control in type 2 diabetes) and Wegovy, a different dosage and administration of semaglutide that was approved by the FDA in 2021 as a long-term weight management drug.

The RSF Alexandria Center for Life Science Waltham campus totals more than 1.5 million square feet of space across five properties in one of the nation’s foremost clusters for biotechnology. Amenities offered by Alexandria as part of the Waltham campus include flexible conference and meeting space; an expansive central lawn; as well as a café and a wellness center.

60 Sylvan Road, part of the Alexandria Center for Life Science Waltham campus. Image credits: CommercialEdge.

The campus is ideally located within reach of Cambridge, Mass., and downtown Boston — two of the most competitive life sciences markets nationally — while also offering companies close proximity to the talent output of educational institutions in the area. Notably, the Boston region has placed itself among the foremost life sciences clusters nationally by showcasing high tenant demand for build-to-suit improvements and developments.

Meanwhile, Alexandria is one of the largest owners and operators of life sciences real estate in the U.S., providing advanced campuses for the industry’s largest players in some of the most competitive life sciences clusters nationally. Its main markets include the greater Boston area; San Francisco and the Bay Area; New York City; San Diego; Seattle; and other life sciences-rich markets. Earlier in December, the company inked another lease for 100,000 square feet of life sciences space in the San Francisco market.

Beyond investing in life sciences real estate, Alexandria also provides venture capital for developing companies in life sciences, agrifoodtech, climate innovation, and other transformative industries.