Greatland Realty Inks ModeX Therapeutics to 33,000 SF at Riverside Labs
March 10, 2023
Weston — Greatland Realty Partners and Rockwood Capital announced the lease signing of ModeX Therapeutics to Riverside Labs in Weston, MA. ModeX inked a 33,056 square-foot lease for the clinical-stage biotechnology company developing next-generation multispecific biologics for cancer and infectious diseases. The company is expanding its local R&D operations through the leasing of the new space.
“As ModeX continues to evolve, we wanted a space that could meet our needs and offer a convenient, high-quality research experience for our team of industry-leading scientists,” said Ji Zhang, Chief Operating Officer of ModeX. “Riverside Labs is an ideal location to support our growth as we continue to develop multispecific medicines to treat complex diseases on behalf of patients.”
ModeX expects to double its workforce to more than 60 employees as part of the transition to support the company’s growing clinical-stage portfolio developed through its proprietary multispecific antibody technology. ModeX’s MSTAR platform enables the company to reliably and rapidly generate drug candidates that target multiple biological pathways with a single molecule to create next-generation medicines to treat intractable diseases in a more comprehensive way.
Located at the high-profile intersection of Interstates 90 and 95, Riverside Labs is a 340,000-square-foot life science campus. The ModeX space will be located in the first of three buildings, which includes nearly 90,000 square feet of lab-ready space and will be available for occupancy in the fall of 2023.
“We are delighted to welcome ModeX to Riverside Labs; their research pipeline, experienced leadership and team culture reflect the best of our area’s life sciences ecosystem. At a time when attracting and retaining talent has never been in sharper focus, we are confident that Riverside Labs will offer this growing company an outstanding work environment in which to flourish,” said Phil Dorman, co-founder of Greatland Realty Partners.
“The benefits that this project offers are unrivaled,” said Alex Plaisted, Senior Vice President at CBRE. “The unparalleled location, the purpose-built life science campus, and a myriad of amenities make Riverside Labs the perfect setting for ground-breaking lab and R&D work.”
CBRE’s John Lashar, Ron Friedman, Alex Plaisted, Don Domoretsky, and Elena Ochsenreither represented Greatland Realty Partners in the lease negotiations. Newmark’s Mark Winters and Juliette Reiter represented ModeX.
Greatland achieved site plan approval for the project in March of 2022, after partnering with Rockwood to purchase the site in December of 2020. The three-building campus, designed by Gensler, will provide new lab-ready infrastructure, along with full-service amenities, including a food hall, fitness facility and gathering space on the site, for formal and informal connections both indoors and outdoors. The project will be built to LEED, WELL and WIRED gold-level standards. Shawmut Design and Construction is the general contractor for the project, with construction financing provided by RBC.
