Entrada Therapeutics signs 10-year lease for ~81,442 sq ft HQ in Boston

Entrada Therapeutics, Inc.

Lease for fifth and sixth floors of One Design Center Place, Boston; 10-year term with 5-year renewal option.
Initial base rent ~$525,417/month for first 12 months (based on 65,000 sq ft), then 3% annual increases for full 81,442 sq ft.
Landlord provides up to ~$19.5M tenant improvement allowance ($240/sq ft) and additional ~$1.63M contribution repayable over 10 years at 8% interest.
Rent commencement is earlier of occupancy or 10 months after delivery; expected delivery around April 1, 2022.
Security deposit of ~$3.95M in letter of credit; Landlord's Work includes pre- and post-delivery improvements.

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