Fractyl Health Takes 78,000 SF in Burlington at Jumbo/Apollo Owned Lab Space via CBRESeptember 20, 2022
BOSTON — CBRE’s Suburban Boston team of Alex Plaisted, Ryan Romano and Tom Hovey completed the leasing assignment of a 78,000 sq. ft. lab space at GenLabs, a life sciences property located at 3 Van de Graaff Drive in Burlington, MA. Fractyl Health, an organ editing metabolic therapeutics company pioneering a new approach to the treatment of type 2 diabetes, has committed to part of the second and entire third floors of the complex and will relocate its operations from 17 Hartwell Avenue in Lexington, MA where it occupies 30,000 sq. ft. of space. Fractyl Health anticipates it will occupy the Burlington space in Q4 2023.
Plaisted, Romano, and Hovey spearhead the campaign at the property and negotiated the lease on behalf of the ownership, Jumbo Capital and Apollo Global Management. Austin Barrett at T3 Advisors represented Fractyl Health in the lease.
“GenLabs offered Fractyl Health the unparalleled opportunity to house its operations in one of Burlington’s premier properties at the epicenter of the area’s next life sciences hub,” said Plaisted. “We’re pleased to have a major life sciences company like Fractyl Health as one of our project’s anchor tenants. In addition, the newly built lab space is ideally located, offering easy access to the Boston and Cambridge markets.”
“This lease kicks off our lab conversion project in a big way,” said Nick Trocki, Vice President at Jumbo Capital. “The ongoing core and shell lab conversion will provide lab-ready infrastructure for Fractyl Health and other life science tenants to flourish and grow. We are excited to bring this space to life and see Fractyl Health succeed.”
“Partnering with GenLabs has afforded us the opportunity to build out our headquarters and expand our operations in Massachusetts,” said Harith Rajagopalan MD PhD, Co-Founder and CEO of Fractyl Health. “As a life science company developing novel devices and therapies to treat type 2 diabetes, we believe our new facility in Burlington, MA, will help fuel the next phase of our growth.”
Totaling 320,000 sq. ft., GenLabs is currently being renovated into a Class A, state-of-the-art lab building. The property boasts 16’+ ceilings, private terraces, a private landscaped courtyard, gym, and cafeteria, among other features attractive to life sciences tenants.