BioMed Realty Trust signs a ten-year lease with Broad Institute in Cambridge

Oct 29 2009

BioMed Realty Trust, Inc. (NYSE: BMR) today announced the signing of a new lease at its 301 Binney Street laboratory research facility in Cambridge, Massachusetts. The world-renowned Broad Institute of MIT and Harvard agreed to a ten-year lease for approximately 80,000 square feet in the heart of Cambridge's biotechnology super-cluster. The five-story, state-of-the-art 301 Binney Street research facility is owned through the company's joint venture with institutional investors advised by Prudential Real Estate Investors.

Commenting on the new lease with Broad, Alan D. Gold, BioMed's Chairman and Chief Executive Officer, remarked, "We could not be more pleased to welcome the Broad Institute to 301 Binney Street and BioMed's premier tenant roster. As a preeminent research institution conducting vital research in genomic medicine, Broad brings the great depth and breadth of scientific talent and resources from Harvard and MIT to BioMed's community of life science organizations in Cambridge. We look forward to a long, productive partnership with Broad and its international research affiliates."