PropertyMay 1, 2026, 05:32 PM
Olema Pharmaceuticals Leases 38,176 Sq Ft for New HQ; $18.5M Rent
AI Summary
Olema Pharmaceuticals, Inc. entered into a seven-year lease agreement for approximately 38,176 square feet of office and lab space to relocate its corporate headquarters by December 2026. The new premises, located on the fourth and fifth floors, will incur a total base rent of $18,506,651.76 over the initial term. The company also has an option to extend the lease for an additional five years and a right of first offer for expansion.
Key Highlights
- Leased approximately 38,176 sq ft for new corporate headquarters.
- Initial lease term is seven years, with an option to extend for five years.
- Total base rent for Phase I is $12,361,188.00.
- Total base rent for Phase II is $6,145,463.76.
- Total base rent for the initial term is $18,506,651.76.
- Requires a cash security deposit of $427,546.80.
- Option to terminate after 60 months with a $1,716,240.96 fee.