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News: Front Section
Posted: August 24, 2018
Ruggiero and Waters of NKF handle 63,278 s/f lease to Replimune
Framingham, MA Newmark Knight Frank (NKF) executive managing directors Richard Ruggiero and Mark Winters represented Replimune Group, Inc., in leasing 63,278 s/f from King Street Properties at 33 New York Ave. Replimune will build-out the space to serve as a new, office/lab/pharma manufacturing space. NKF represented Replimune in the lease negotiations and Kevin Hanna and Paul Leone of Cushman & Wakefield represented the landlord.
Due to the firm’s recent growth, Replimune selected NKF to assist with site selection analysis for a pharma manufacturing location. Once construction and validation are complete, the new full-service GMP facility will be used to produce Replimune’s product candidates and ultimately support product launch, pending successful completion of clinical studies and regulatory review. Replimune will take occupancy of the new space once the initial shell build-out is completed in Q3 2019.
“We are pleased to have assisted Replimune is this transaction, allowing Replimune to locate a state of the art facility to accommodate its expanding business needs,” said Ruggiero. “33 New York Ave. was the perfect fit for our client, due to its centralized location, planned renovation, and ownership’s depth of life science experience.”
King Street Props. acquired 33 New York Ave. in February. The single-story building had been vacant since December 2017, when Metro West Daily News relocated its offices. King Street Props. is renovating the property and expanding it with a 9,000 s/f addition, bringing the total to 107,350 s/f.
In addition, the firm plans to create new pedestrian walkways, make parking improvements, and add new landscaping.
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