Item 2. Properties
ITEM 2. PROPERTIES
Our principal office is located at 99 Hayden Avenue, Suite 120, Building E, Lexington, Massachusetts 02421, where we lease approximately 15,622 square feet of office and laboratory space under a lease that terminates in March 2023. We previously amended our lease to expand our square footage as we continued to grow. We believe that these facilities will be adequate for our near-term needs. If required, we believe that suitable additional or substitute space will be available in the future on commercially reasonable terms to accommodate any such expansion of our operations.
In September 2021, we entered into an indenture of lease, or Lease, with Revolution Labs Owner, LLC, a Delaware limited liability company, or the Landlord, pursuant to which we will lease approximately 35,662 square feet of office and laboratory space located at 1050 Waltham Street, Lexington, Massachusetts, or the Premises, for our new principal executive office. The term of the Lease will commence on the date the Landlord delivers the Premises to us after the substantial completion of agreed upon improvements to be performed by the Landlord, or the Commencement Date, which we expect to be on or prior to October 21, 2022. Our obligation for the payment of base rent for the Premises begins four months after the Commencement Date.
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