Los Angeles-based life sciences real estate developer Breakthrough Properties — a joint venture between Tishman Speyer and Bellco Capital — recently announced the signing of three new tenants at its East Cambridge, Mass., waterfront development.
Redevelopment work began on One Canal by Breakthrough in Q3 2022. It will be home to biotechnology company Larkspur Biosciences, precision oncology biotech company Incendia Therapeutics, and AI-powered biotech discovery company Deep Genomics.
“We are thrilled to welcome Incendia, Larkspur Biosciences, and Deep Genomics to the stunning new ecosystem we have cultivated at One Canal,” said Breakthrough Properties CBO, Susie Harborth. “These companies are at the forefront of next-generation technologies, including AI and machine learning; precision-oncology; and RNA-based therapies. We look forward to expanding this community of innovative, impact-driven companies at our premier One Canal site.”
Boston life sciences office space at One Canal by Breakthrough. Property image courtesy of CommercialEdge.com
The three tenants will fully occupy pre-built suites across two floors concurrently with the completion of construction. Work is currently underway at the four-story building to deliver more than 110,000 square feet of premium Boston lab and office space. Tenants at One Canal by Breakthrough will enjoy waterfront views of the canal and park; 30,000-square-foot floor plates; flexible layouts; collaboration spaces on the first and second floors; a lounge space on the ground floor; a building concierge; a fitness center; and on-site retail options. According to CommercialEdge property research data, the building incorporates more than 15,000 square feet of retail space.
“We are excited to partner with Breakthrough in this next phase of Larkspur’s evolution,” said Larkspur CEO, Catherine Sabatos-Peyton. “One Canal is a unique space as a state-of-the-art research building that blends bright, open, modern spaces with purpose-built labs. Our team is energized by the opportunity to work and grow in this space as we concentrate on our mission to develop novel precision therapies for patients with cancer.”
Located along First Street in an amenity-rich neighborhood at the heart of one of the world’s top innovation ecosystems, One Canal offers convenient access to both the Kendall Square MBTA Redline and the new Lechmere Green Line T station. It’s also situated within close proximity of multiple parks and open spaces, including the Charles River.
“We are thrilled to be moving our operations into One Canal,” said Incendia Therapeutics CEO, Wendye Robbins. “It has been a privilege to work with the Breakthrough team to make this possible. They were flexible. They recognized our critical needs and exceeded our expectations every step of the way. We look forward to a successful partnership together.”
Breakthrough Properties signs 3 biotech tenants for the new Boston life sciences office space being redeveloped at 1 Canal Park in Cambridge MA. Property image courtesy of CommercialEdge.com
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