Allston/Boston, Massachusetts—King Street Properties (“King Street”) today announced that Terrestrial Bio, Inc, a biotech company transforming the delivery of next-generation therapies, starting with GLP-1., has signed a 42,000 square foot lease at 250 Western Avenue at Allston Labworks. Located on the thriving Western Avenue corridor, Allston Labworks is a mixed-use development of life science, retail and residential in a neighborhood adjacent to world-class research and universities.
“We are excited to welcome Terrestrial Bio to the Allston Labworks community,” said Mike DiMinico, Partner at King Street Properties. “Our goal is to create an environment where leading life science companies can thrive, and Terrestrial’s work aligns well with the innovative ecosystem we are building along the Western Ave corridor. We are proud to support their continued expansion and long-term success.”
“Terrestrial is looking forward to building out automated, scaled production of our company’s microarray patches for clinical development and commercial entry,” said Rachel Sha, CEO at Terrestrial. “We’re grateful for the support of Allston Labworks, the City of Boston, and the Commonwealth of Massachusetts for creating a great environment for innovation and growth.”
King Street will complete a custom-built GMP facility for Terrestrial. The company’s MAP platform is designed to ease the burden on patients by delivering therapeutics without needles or the need for refrigeration. The technology aims to expand access to vaccines and treatments by overcoming many of the limitations of traditional injections—offering a virtually pain-free, easy-to-use alternative that can be administered outside of clinical settings while maintaining the effectiveness of conventional delivery methods.
In addition to over 500,000 sf of life science and office space, Allston Labworks includes 35 residential apartments, retail and over an acre of public open space, altogether creating a thriving mixed-use destination in this neighborhood of Boston. The retail has been extremely successful, with King Street securing five leases in over 20,000 square feet of space in the last year. From the beginning, King Street made it a priority to bring in local retail and added FiDO, a NY style pizza restaurant and cocktail bar by Traveler Street Hospitality, beloved independent bookseller, Molly’s Bookstore and Park Bagelry, a new concept by Tiny Engine Collective. Other tenants include Allston non-profit BioBuilder, which moved in last year to focus on life science training for local high school students and teachers, and Alchemy Station, a women-owned art consulting firm and creative studio.
The transaction was brokered by Ted Lyon, Christopher Walsh, and Steven Pesapane of Cushman Wakefield on behalf of ownership and Paul Delaney, John Coakley and Carter Sweabe of Cressa on behalf of Terrestrial.