Alexandria Real Estate Equities, Inc. announced that an affiliate of Takeda Pharmaceutical Company Limited, has executed a 10-year lease extension through March 31, 2040 with strong rental rate increases for 222,925 RSF at 75/125 Binney Street on the Alexandria Center at Kendall Square mega campus in the Cambridge submarket. Takeda's research and development site is a key component of its global R&D center in Greater Boston, which is focused on advancing highly innovative medicines across its four core therapeutic areas: oncology, rare diseases, neuroscience and gastroenterology. This significant early renewal demonstrates Takeda's long-term commitment to the Alexandria Center at Kendall Square mega campus and importantly highlights the essential nature of Alexandria's Labspace infrastructure, which the patient-focused, R&D-driven pharmaceutical company relies on to house and help safeguard its highly valuable, mission-critical scientific research and equipment.

Alexandria provides Takeda with essential, integrated laboratory and adjacent nontechnical infrastructure to enable the company's efforts to discover, develop and deliver life-changing therapies for patients worldwide and recruit and retain top life science talent. As part of the lease extension at the LEED Gold certified research facility, Alexandria and Takeda will collaborate to enhance the environmental performance and sustainability attributes of the building through a variety of strategic efforts, including promoting occupant health and wellness, prioritizing energy efficiency and reducing water usage.