other material
confidence high
sentiment neutral
materiality 0.60
Intellia signs 12-year Cambridge lease for ~147K sq ft; terminates Waltham lease with $78M payment
Intellia Therapeutics, Inc.
- New lease at 400 Technology Square, Cambridge: initial 101K sq ft, expandable to ~147K sq ft in two tranches starting Dec 2027.
- Base rent $108/sq ft/year, 3% annual escalations; landlord provides up to $41.5M for tenant improvements.
- Winter Street lease terminated with $78M paid in three installments (Feb 2025, Apr 2025, Jan 2026); no rent due after Jan 2025.
- Lease term 12 years 3 months plus 5-year extension option; occupancy starts Jul 2025, rent begins ~14 months later.