The deal should give Philadelphia, PA-based Berwind Property Group, which acquired the 127-acre campus through an affiliate this past November from 3Com Corp., a measure of relief. At the time of acquisition, the 531,000-sf campus was 37% occupied. Current tenants include 3Com and National Grid, and with this deal, total occupancy is now up to 48%, leaving approximately 277,000 sf of space available for lease. The site also has expansion capacity to accommodate an additional 650,000 sf.

The campus was originally developed by 3Com in 1998, and the company fully occupied the space until it realized it needed to sell. 3Com now occupies one of the four buildings on the campus which comprises 168,000 sf of space. The Campus is located near Route 495 and among its features are a 15,000-sf cafeteria, a 10,000 sf fitness facility, a 300-person auditorium and training rooms.

John L. Brogan, vice president of Berwind Property Group, spearheaded the acquisition and is responsible for operating the complex. He says that leasing activity remains strong at the property and adds, "We are so pleased that Exact Sciences chose to relocate and expand their operations at The Campus at Marlborough. This is a superb facility which we believe will provide Exact Sciences with the efficiency, comfort and convenience they need to grow and prosper."

Kevin Hanna of Cushman & Wakefield represented Exact Sciences in the lease transaction. Kevin Malloy of Lincoln Property Co. is serving as leasing agent for the property.

The deal is something of a feat in this market which has seen its vacancies soar over the last year. Last January, the overall available space according to statistics compiled by Trammel Crow Co., was at a relatively high 22.3%. But as of this past January the overall available space in Marlborough was at a whopping 44.1%. The direct weighted average rate for office space is $22.89 per sf.