MassChallenge Moves HQ to Fenway's 401 Park in 22,500-Square-Foot Lease
Updated
Updated · The Boston Globe · Oct 26
MassChallenge Moves HQ to Fenway's 401 Park in 22,500-Square-Foot Lease
3 articles · Updated · The Boston Globe · Oct 26
Summary
MassChallenge signed a lease for 22,500 square feet at 401 Park, shifting its headquarters from the Seaport to Fenway for the first time since its 2009 founding.
MassMutual had hosted the nonprofit for free at 10 Fan Pier Boulevard but told it a year ago it wanted the space back, sending MassChallenge to hunt for discounted space in Boston and nearby cities.
Alexandria Real Estate Equities offered a significant rent break and saw the accelerator as a fit for 401 Park, where it has broadened plans beyond life-sciences labs toward tech and innovation tenants.
Nearly 90 desks at the new site will support as many as 150 startups a year, as MassChallenge now runs smaller overlapping cohorts that require in-person visits only two or three times a month.
An $8.5 million annual budget and a new $2 million donation from Joshua and Amy Boger back CEO Cait Brumme's plan to double revenue and startups served by 2030.