Graviton Biosciences Becomes First Tenant at West End Labs With 30K-SF Lease
By Mark Hallum July 5, 2023 2:08 pm
reprints
Upper West Side life sciences development West End Labs signed its first tenant.
Graviton Bioscience agreed to a 30,000-square-foot lease at 125 West End Avenue, where it has already moved into the brand-new development, according to Elevate Research Properties, the life sciences arm of Taconic Partners" class="company-link">Taconic Partners, which owns the property with Nuveen Real Estate.
The tenant, which develops treatment for autoimmune diseases and has an address listed on its website at 450 East 29th Street, signed a 10-year lease with an asking rent of $125 per square foot, according to Elevate. The New York Post first reported the deal.
“Graviton was attracted to the building’s transformational repositioning that included high-end, pre-built lab suites, robust amenities, and desirable location,” David Stockel of CBRE, who represented Graviton in the deal, said in a statement. “Ownership’s ability to accommodate our immediate requirement was critical.”
Taconic’s Matthew Weir and Matthew Malone represented the landlords in-house alongside CBRE’s Evan Haskell, Jonathan Schifrin, Robert Stillman, Ali Gordon and Taylor Walker.
“West End Labs is the newest and most exciting hub in New York’s life science ecosystem, raising the bar for scale, design, quality, and amenities in research buildings,” Weir, president of Elevate, said in a statement.
Taconic and Nuveen’s life sciences development, located between West 65th and West 66th streets, cost a total of $600 million and spans 400,000 square feet. It features pre-built spaces, 16-foot ceiling heights, a 300-person conference center and a 15,000-square-foot of rooftop terrace.
Mark Hallum can be reached at mhallum@commercialobserver.com.
