The Broad Institute is again expanding in Cambridge’s Kendall Square, with plans to develop a 225,000-square-foot advanced biomedical research center at 300 Binney St.
The renowned research lab, a joint effort of MIT and Harvard, will move into a building being vacated by drugmaker Biogen, around the corner from the Broad’s headquarters on Main Street, in 2025 after the building is renovated by owner Boston Properties. The move will give the Broad — an academic life sciences research institute that employs more than 2,000 scientists and staff — close to 1 million square feet of lab and office space in Kendall across several buildings.
“With this additional space, our scientists will have the flexibility to take advantage of bold new opportunities and continue to work with our hospital and university partners to transform human health,” said Todd Golub, director of the Broad Institute and a founding core institute member. “Alongside our facilities in the Merkin and Stanley Buildings in Kendall Square, this next-generation scientific facility will enable Broad to deepen our commitment to understanding and treating disease.”
The lease is part of a three-way deal involving three longtime anchors of Kendall Square’s life sciences ecosystem.
Biogen also said Tuesday it would sell an office and lab building it owns at 125 Broadway to Boston Properties for $592 million, and would then lease back the six-story, 271,000-square-foot building through April 2028. Biogen also said it will vacate 300 Binney, as part of an effort to “optimize its office footprint in Cambridge to align with reduced space requirements under hybrid work models.”
Biogen is taking steps to cut an estimated $1 billion in costs following the controversial rollout of the Alzheimer’s drug Aduhelm, and had previously looked to sublease space at 300 Binney St., which is located across the street from its headquarters.
Instead, it will turn the building back over to landlord Boston Properties, which will renovate it, add roughly 50,000 square feet, and lease it to the Broad for 15 years.
“We are thrilled to complete this acquisition and continue our longstanding relationship with Biogen,” said Bryan Koop, executive vice president of the Boston region for Boston Properties, in a statement.
The Broad Institute expects the expansion to be complete in early 2025. Once done, the institute will occupy close to 1 million square feet of lab and office space in Kendall Square. It also occupies the Richard N. Merkin building at 415 Main St. and the Ted and Vada Stanley building at 75 Ames St., along with offices at 105 Broadway. The Genomics Platform, its genome sequencing center at 320 Charles St., will be replaced by a separate sequencing center in Burlington that opens next year.
The research center at 300 Binney “is part of a long-term facilities plan designed to anticipate future scientific directions,” the Broad said in a release.