Fractyl Health
78,000 SF New HQ
$17.6M Design and construction risk
$4.3M Upfront free rent
Challenge:
Fractyl Health, Inc. is a medical device firm looking to expand commercial operations and build out space for its new gene therapy platform.
The current 30k SF stand-alone building in Lexington would not accommodate Fractyl’s near-term expansion needs.
The lease expired in 2023, with much of the new development in Waltham and Lexington having been pre-leased.
Approach:
The Lab Planning team helped develop a program based on Fractyl’s expected talent and scientific needs. The team is now consulting and managing lab equipment procurement for 15,000 SF of new lab space.
The Strategy and GIS team worked to identify more cost-effective locations in the Greater Boston market to attract and retain talent.
Brokerage identified a building that was the right fit for both medical device and therapeutics use.
Project Management was involved in the due diligence and lease negotiations and will now lead the design and construction of Fractyl's custom-built facility.
Workplace Strategy is leading the furniture procurement and implementation of company design standards for their new HQ.
Results:
Fractyl secured a new HQ with prominent highway signage in the growing life sciences community of Burlington, MA.
The landlord is assuming 100% of the design and construction risk with an allowance of $17.6M, minimizing Fractyl’s upfront expenses.
Savills secured $4.3M in upfront free rent to accommodate Fractyl’s phased growth and commercial plans.
Savills negotiated short-term renewal and shared bench space to accommodate near-term talent and scientific needs during uncertain design and construction times.
Savills PM, Workplace and Lab Planning is leading move coordination, implementation and operational establishment.
