Bristol Myers Squibb Expands at Cambridge Crossing

DivcoWest announced that 250 Water Street at Cambridge Crossing (CX), the new 43-acre neighborhood under construction at the intersection of Cambridge, Somerville, and Boston, is now fully-leased following an expansion of Bristol Myers Squibb’s presence in the building. 

BMS is adding the remaining 113,000 square feet to its initial lease, which was announced in August of last year. The new 480,000 square-foot state-of-the-art science and technology building is expected to be completed in 2022.

With the BMS expansion, 250 Water Street becomes the fourth science and technology building at CX to be fully leased, following 222 Jacobs Street, where both Philips North America and neuroscience-focused Cerevel Therapeutics currently reside, and 350 and 450 Water Street, where Sanofi will soon consolidate much of its local workforce. 

“We are thrilled that Bristol Myers Squibb chose 250 Water Street as a key research and development site to support their mission to discover, develop and deliver innovative medicines that help patients prevail over serious diseases,” said Mark Roopenian, Managing Director at DivcoWest. “We’re proud to be creating best-in-class space at Cambridge Crossing where the top leaders in the industry can pursue cutting-edge research and create life-changing treatments.”

Remaining science and technology space within Cambridge Crossing includes approximately 600,000 square-feet in two future buildings at 441 Morgan Avenue and 121 Morgan Avenue. 441 Morgan Avenue, a 375,000 square-foot science and technology building, is scheduled to break ground later this spring. 

For the lease negotiations, Bristol Myers Squibb was represented by Bob Richards of Cushman Wakefield and Bob Morford of Morford & Dodds Realty. Jarrod Matteson of DLA Piper and Andy Romay of Mayer Brown provided legal representation to DivcoWest and Bristol Myers Squibb, respectively.