Calls to Sepracor, a pharmaceutical company, were not returned by press time but local industry expert Brian McKenzie, a partner at Richards, Barry & Joyce Partners confirms the details of the deal. He tells GlobeSt.com that Sepracor originally leased the building with an option to purchase it.
McKenzie, was not involved in the deal, points out that Sepracor invested $10 million in the building, noting that "given the amount of infrastructure they built," it makes sense for them to purchase the building. He adds that because the company was leasing the whole site, the deal will not have a real impact on the area's vacancy rates.
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