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441 Morgan Ave Cambridge, M...

Astellas Pharma Leases 62,000 SF At 441 Morgan Ave In Cambridge, MA
LEASEDLife Sciences

Astellas Pharma Leases 62,000 SF At 441 Morgan Ave In Cambridge, MA

441 Morgan Ave Cambridge, MA 02139, USA

$115

$115/SF

Building Size

62,000 SF

Asset Type

Life Sciences

Closing

Aug 14, 2023

AI

Astellas Pharma Inc. has leased 62,000 square feet of space at 441 Morgan Avenue in Cambridge, MA. The property is part of DivcoWest's Cambridge Crossing development. The lease transaction was facilitated by brokers Andrew Davidson, David Burkards, and Kyle Robbins from Transwestern.

Summary of transaction details:

  • Property Type: Life Sciences
  • Transaction Amount: Not mentioned
  • Address: 441 Morgan Avenue, Cambridge, MA
  • Market: Cambridge, MA
  • Landlord: DivcoWest
  • Tenant: Astellas Pharma Inc
  • Brokers: Andrew Davidson, David Burkards, Kyle Robbins - Transwestern
  • Asking Rent: $115/ft
  • Square Footage: 62,000

The lease agreement between Astellas Pharma Inc. and DivcoWest for 62,000 square feet at 441 Morgan Avenue marks a significant transaction in the life sciences sector in Cambridge, MA. This deal demonstrates the continued growth and demand for life sciences space in the area, with DivcoWest's Cambridge Crossing development being a sought-after location for such companies. The involvement of brokers Andrew Davidson, David Burkards, and Kyle Robbins from Transwestern further highlights their expertise and involvement in the deal.

Players

Andrew Davidson

Transwestern

Broker

$7.5M

vol

5 deals

Broker
DivcoWest
DivcoWestLender
DivcoWest
DivcoWestLandlord

Cambridge Life Sciences Market Snapshot

Boundary boundary · Life Sciences · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

137939.13%

Cash-on-Cash

-39423.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93