Gingko Bioworks to Fully Occupy 219K-Square-Foot Seaport Building
It’s been a big year for Gingko Bioworks. After initially sharing plans to lease 150,000 square feet of space in the Seaport District earlier this year, the synthetic biology firm recently announced that it would fully occupy a 219,000-square-foot lab at the site of the former Au Bon Pain headquarters. The site, next door to the company’s headquarters at 27 Drydock Avenue, is being developed by Marcus Partners; construction is expected to start next year.
Photo Courtesy of SGA / Dream Collaborative Marcus Partners
The announcement is the latest in a long line of significant developments for the firm, which went public in mid-September. Its IPO was facilitated by a reverse merger with a Special Purpose Acquisition Company, or SPAC, called Soaring Eagle Acquisition Corporation. Gingko, which assumed the coveted ticker symbol DNA on the New York Stock Exchange, raised approximately $1.6 billion through its IPO. Valued at $17.5 billion, the firm’s first day of trading began on September 17th.
Prior to the IPO, Gingko originally planned to lease space at the former Au Bon Pain site, which consisted of office space, a distribution facility and a bakery. As part of the acquisition, the biotech firm is also acquiring a smaller, adjacent site that belonged to steel manufacturer Matt J. McDonald Co. All told, then, the new deal involves Gingko acquiring Parcels O and P, which are located in the Raymond L. Flynn Marine Industrial Park on the edge of the Seaport. The Boston Planning and Development Agency approved Gingko’s initial plans back in August.
In a statement, the synthetic biology company announced that it would develop more workspaces and foundries on the site. Founded 12 years ago, Gingko specializes in reprogramming cellular DNA to produce custom microbes for cosmetic, food and drug companies. Recently, it also branched out into many additional areas – another sign of its explosive growth and ongoing success.
As part of the deal announced the other day, Marcus Partners will help Gingko develop a 219,000-square-foot life science building. The development company will also redevelop the aforementioned steel manufacturing building next door into a 9,000-square-foot amenity building. The initial name for the new project, The Foundry, could end up being the official name for the site once the details are ironed out.
Construction of the new building and redevelopment of the existing one will be handled by John Moriarty and Associates of Winchester, MA. The company plans to partner with a minority- or women-owned business enterprise to get the job done. The architecture team for the project is a joint venture between SGA and DREAM Collaborative.
Gingko’s September IPO was one of the largest of its kind for a biotech firm, and its expanding presence in the Seaport only reinforces that district’s prominence in the life sciences world. Indeed, Boston’s Seaport District is now the second-largest lab cluster in the state, overshadowed only by Kendall Square in Cambridge. With the development and redevelopment of Parcels O and P, the company cements its place as one of the biggest players in the industry.