CAMBRIDGE, MA – Liquid Metal Battery Corp. has leased 10,000 Sf , signing a long-term lease at Blackstone Square, a four-building complex in the city’s CambridgePort district. ITRA/The Stevens Group provided tenant advisory services to LMBC in the transaction.
Founded in 2010 by MIT researchers Donald Sadoway, David Bradwell and Dr. Luis Ortiz, the energy sector firm gained quick notoriety thanks to a personal investment from Bill Gates. “They’ll be very happy there,” principal Debra Stevens portends of her client’s future home after conducting an extensive space search that began shortly after the firm was launched. “It was a challenge,” relays Stevens, a tenant representation specialist who worked closely with Ortiz, the firm’s president, in mulling alternatives. Stevens explains LMBC wanted a ground floor opportunity due to weight issues of its equipment, and also needed a structure possessing enhanced power capabilities.
With Blackstone Square able to accommodate the exacting requirements, fit out of the space is now underway in advance of the firm’s upcoming occupancy. Stevens declined to discuss financial details of the commitment by LMBC, but says the landlord “did what they needed to do” in beating out other suitors keen to land the promising company that has already received backing from the US Department of Energy on top of the boost from Microsoft’s famous founder. The technologies were invented in Sadoway’s MIT laboratory, with the founders of LMBC securing the patent rights in advance of launching their platform.
ITRA/The Stevens Group is a Boston based real estate advisory firm providing transactional representation, brokerage and consulting services exclusively for corporate tenants and occupiers of commercial real estate. As the Boston regional affiliate of ITRA Global, an organization of real estate professionals devoted to tenant and buyer representation worldwide, The Stevens Group offers principal-level services to corporate clients in more than 90 markets around the world.