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December 18, 2024

New Haven-based Arvinas to expand Science Park footprint; renews leases

COSTAR 5 Science Park, New Haven
By Greg Bordonaro

Several months after New Haven bioscience company Arvinas Inc. announced that it was abandoning its plans to occupy a significant chunk of space in a new Elm City life sciences tower, the company is recommitting to its existing home in Science Park, and even adding to its footprint.

Arvinas, in a filing this month with the U.S. Securities and Exchange Commission, disclosed it has renewed its leases at 4 and 5 Science Park and extended them to Dec. 31, 2029. The leases were set to expire at the end of this year.

Arvinas said it will also add 1,500 square feet of space at 5 Science Park for a total of 64,000 square feet. The company occupies a total of roughly 67,500 square feet between the two locations.

As part of the deal, Arvinas has also agreed to new lease terms. The company said in 2025 it will pay $157,380.04 in monthly rent at 5 Science Park, and $8,653.33 in monthly rent at 4 Science Park. 

Arvinas also has the option to extend both leases for five additional years, according to the SEC filing. 

The modified lease agreements come just months after Arvinas disclosed it would pay a $41.5 million fee to terminate a lease agreement to occupy 163,784 square feet of space at 101 College St., a new 525,000-square-foot life sciences tower developed by Carter Winstanley.

The company was announced as a tenant in that building in May 2021, and planned to occupy space on the fourth, fifth and sixth floors, and a portion of the first floor.

Arvinas said it backed out of the 101 College St. lease because it no longer needed the space as it embraced “a geographically diverse workforce with remote employees based across the country.”

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