The term of the lease is 19 months, says David Niami, associatevice president with Equis Corp., which teamed with Cushman &Wakefield Inc. to represent MGI Pharma. MGI Pharma has had itsheadquarters in the 103,050-sf building at 5775 W. Old Shakopee Rd.since its construction in 2001.

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Niami tells GlobeSt.com that MGI Pharma originally considered afive-year renewal, but chose a short-term lease because of itsrecent acquisition by Eisai. He adds that MGI Pharma received noincentives with the short-term renewal. According to an Eisai pressrelease, MGI Pharma was bought for $3.9 million.

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The 103,050-sf structure is part of the four-building WestBloomington Technology Park, a 304,533-sf complex on 28 acresdeveloped and owned by Liberty Property Trust of Malvern, PA. MGIPharma's building is nearly 90% occupied, with 10,797 sf available.Midwest Surgical is the other tenant in the building. Niami saysthe technology park overall is more than 75% occupied. Park tenantsinclude Identix Inc., Minnesota Gastroenterology and PlatoLearning. Space in the park is quoted at $12.50 per sf, net.

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