Case Studies: Alnylam Pharmaceuticals Expands Rapidly
When Alnylam Pharmaceuticals., a Cambridge based biotechnology company was originally introduced to T3 there were two employees in the company. This meeting took place in a conference room at Polaris Ventures one of the early investors in Alnylam. T3 President Roy Hirshland working with his team helped Alnylam chart a future path for potential growth.
The first assignment was small. T3 negotiated a 5,000 square foot lease for Alnylam at a science incubator in Cambridge. At the time this alternative provided the company with flexibility as it pursued its scientific goals and future financing. A combination of great science, extraordinary leadership and world class investors helped propel Alnylam into one of the stars of the research world in the Boston area.
T3’s next real estate assignment was challenging. Alnylam now required a larger research facility that could accommodate growth yet wouldn’t over commit the company. In addition the search for existing lab space did not yield any great alternatives. T3 then went into a “war room” mentality analyzing every conceivable option.
Palm Computing had in fact leased an entire office building but had never occupied the building (300 Third Street). 300 Third was perfectly located for Alnylam and had an appearance that supported Alnylam's image. T3 with Alnylam's other consultants began an exhaustive analysis of converting 300 Third from an office building to a lab/research facility.
Alnylam signed a lease for 45,000 square feet in the building- a long way from its modest 5,000 square foot beginning. T3 also helped Alnylam secure exterior building signage further enhancing its image. This lease was the largest lab lease in 2003.
John Palmieri of Alnylam- “As you know I am a veteran of biotech facilities having spent almost 20 years at Biogen. I have never met a firm more professional than T3 and most importantly one that I view as a true partner. Because your firm only represents tenants, I am always confident you are on my side of the table.”
Thanks John. We couldn’t have said it better ourselves.
|
