Volastra Therapeutics Keeps Mink Building Lab Space
By Celia Young June 14, 2023 11:03 am
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Cancer therapy developer Volastra Therapeutics is sticking with its 15,000-square-foot space at the Mink Building in West Harlem, Commercial Observer has learned.
Volastra inked a three-year deal to renew its laboratory and offices at the six-story building at 1361 Amsterdam Avenue, according to landlord Janus Property Company.
Asking rent was $105 per square foot.
Volastra first moved into the building in 2020 and quickly expanded its office the following year, after scoring an additional $12 million in seed funding. Its lease renewal comes just months after Volastra closed on a $60 million Series A funding round from investors Polaris Partners, ARCH Venture Partners and Eli Lilly and Company, a deal the company announced in March.
The biotechnology firm decided to stick with the building between West 126th and West 128th streets because of the new laboratory Janus built for Volastra in 2020 and the property’s proximity to public transportation.
“They’ve found it a very convenient place to be,” Scott Metzner, a principal at Janus Property, said. “And they really like the physical space a lot. We built that new lab for them three years ago, and then we built an expansion of their space for them within the last couple of years.”
The 350,000-square-foot Mink Building houses a handful of other life sciences firms, including Hemogenyx Pharmaceuticals, Harlem Biospace II and Quicksilver Biosciences, all of which have expanded or inked deals at the building in the last three years, Metzner said.
Janus Property Company and Volastra handled the deal in-house.
Celia Young can be reached at cyoung@commercialobserver.com.
