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Image courtesy of Anchor Line Partners
Conversion of the former Sears store into lab space at the Cambridgeside mall picked up momentum with a 50,453-square-foot lease by a biotech that received $116 million in venture financing early this year.
Korro Bio signed a 10-year lease to occupy the second floor and portion of the ground floor at 60 First St., according to a Middlesex County Registry of Deeds filing. Korro received its series B funding led by Eventide Asset Management in January to continue its research into an RNA editing platform for drug candidates. The firm lists a current headquarters at One Kendall Square.
In December, Cambridge-based Prime Medicine became the first tenant to commit to the speculative CambridgeSide redevelopment, leasing 150,000 square feet on the third through fifth floors. Anchor Line Partners, Northwood Investors and the original mall developer New England Development are partnering on the development.
In marketing materials, developers promote the conversion of the late 1980s mall into a mixed-use development as “CambridgeSide 2.0.” Construction of steel framing and concrete decking is underway at 20 Cambridgeside, the former Macy’s space, which will be replaced by a 10-story office-lab building.
