A pharmaceutical giant — and the top life sciences employer in the state of Massachusetts — is letting go of a big chunk of its space in another blow to the regional life sciences real estate industry.
Japan-based Takeda Pharmaceuticals put nearly 450,000 square feet on the sublease market this month across three properties in Cambridge, CoStar reported. The properties in question include 300 Massachusetts Avenue, 35 Landsdowne Street and 75-125 Binney Street.
At Binney Street in particular, it’s a reverse course for Takeda. Less than two years ago, the company renewed 388,000 square feet in an early renewal with Alexandria Real Estate Equities, postponing the expiration date to at least 2040…