RMR Group announces early renewal of Vertex Pharmaceuticals lease

RMR Group (RMR) announced the early renewal of the Vertex Pharmaceuticals (VRTX) lease for 1.1M square feet of office and laboratory space at 50 Northern Avenue and 11 Fan Pier Boulevard in Boston, Massachusetts. Vertex’s existing lease, which expires in December 2028, was extended for approximately 15 years, through June 2044. The properties leased to Vertex are owned by a joint venture, for which RMR provides asset and property management services, and in which Diversified Healthcare Trust, an RMR client, owns a 10% equity interest.