King Street Properties has secured the first biotech tenant at its Allston Labworks mixed-use development, marking a notable leasing milestone for the project. According to reporting from the Boston Business Journal, Terrestrial Bio, which recently rebranded from its prior identity as Vaxess Technologies, has committed to a 42,000-square-foot lease at 250 Western Ave within the Allston Labworks campus.
The lease will bring Terrestrial Bio’s headquarters from Woburn into Boston’s Allston neighborhood. The company is planning to consolidate its core corporate functions at Allston Labworks while also housing lab, office and manufacturing operations in the new space. This move positions the firm within a mixed-use environment that is being marketed to life sciences occupiers alongside other commercial and community-focused users.
As part of the transaction, King Street Properties will deliver a custom-built GMP facility for Terrestrial Bio at Allston Labworks. The tailored build-out is intended to accommodate the company’s manufacturing needs in addition to its office and research functions. While the headquarters will relocate to Allston, Terrestrial Bio intends to keep its existing Woburn manufacturing facility in operation, as noted by the Business Journal, resulting in a two-location footprint for its production activities.
The new biotech lease adds to a growing tenant roster at Allston Labworks, which comprises three buildings and is envisioned as a mixed-use node within the Allston area. Over the past year, King Street has signed five leases across the campus spanning more than an unspecified amount of space. Those commitments include three retail tenants, helping to establish a neighborhood-serving component at the property.
In addition to the retail leases, Allston Labworks has attracted Alchemy Station, described as a women-owned art consulting firm and creative studio. The development has also drawn BioBuilder, a nonprofit organization that delivers life sciences educational programming, underscoring the project’s positioning at the intersection of commercial, cultural and educational uses.
With the arrival of Terrestrial Bio as the first biotech tenant, Allston Labworks continues to diversify its mix of occupants and advance its broader leasing campaign within Boston’s Allston neighborhood.
