Terms of the lease are undisclosed; however, the Fox website shows a published rental rate of $26 per sf for the 735 property, the same rate shown for the initial Shire building. Andrew Spillard, first VP of the local area office of CB Richard Ellis, represented FV Office Partners LP, owner of the center, in the recent negotiations. Dan Dagit, SVP, and Michael Bronstein, first VP in the same CBRE office, represented Shire. CBRE is the exclusive agent for Chesterbrook. With this expansion, Shire will occupy nearly 220,000 sf in the center, which has an aggregate of 960,000-sf of office space.

Shire is consolidating offices from its former Newport headquarters and an office in Rockville, MD in the new space, which is currently in the build-out phase and scheduled for occupancy in first-quarter 2005. In the interim, more than 150 Shire staff members are occupying temporary space in Chesterbrook Center, and 300 are expected to be using the temporary space by the end of this year.

In a statement, David Reese, Shire's senior global facilities director, praises the CBRE team's "expedited location search" and "specific accommodation requests…to ensure that this was the best move for Shire as we grow our operations in the states and around the globe."