Biogen sells 271K square foot Cambridge, Mass. property for $592M
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Biogen (NASDAQ:BIIB) has sold a laboratory and life sciences building it occupies in the middle of Cambridge, Mass.' biotech area for $592M to Boston Properties (BXP).
Biogen (BIIB) will continue to occupy the building at 125 Broadway in the Kendall Square neighborhood through April 2028 under a new lease.

As a result of the acquisition, Boston Properties (BXP) and the biotech terminated an existing lease at 300 Binney Street, an adjacent, 195,000 square foot property.
That building will undergo a renovation into a biomedical research facility for occupancy in early 2025 by research organization Broad Institute of MIT and Harvard.
Derek Pitman and Betsy Yang recently wrote that Biogen (BIIB) is a hold because the company is facing patent cliffs and increased competition.