LEXINGTON, MA—Biopharmaceutical company Shire has signed a long-term lease for 202,492 square feet of space at the two Ledgemont Center building here.
The lease, announced by Transwestern | RBJ, is for the entire five-floor office building at 95 Hayden Ave. and creates the largest suburban biotech campus in Greater Boston. The Two Ledgemont Center property is adjacent to Shire's existing campus, which consists of more than 650,000 square feet of office and laboratory space at Lexington Technology Park.
Transwestern | RBJ president Robert Richards and Brian Cohen, senior vice president, represented Shire in the lease at 95 Hayden Ave. The owner of Two Ledgemont, an affiliate of Hobbs Brook Management LLC, was represented by Chip Batchelder, managing director, Wyman Street Advisors.
As part of the deal, Shire is also leasing interim space at 235 Wyman St., for employees during their rolling move from the Philadelphia area.
In total, Shire will occupy approximately 900,000 square feet in eight buildings in Lexington. In November 2014, Shire announced plans to establish Lexington as the company's U.S. operational headquarters.
“After working closely with Shire's management team to quantify the company's space needs, we created a strategic plan that solved short- and mid-term needs and were able to expand the campus contiguously by sourcing Two Ledgemont Center,” Richards says.
As part of Shire's occupancy at Two Ledgemont, Transwestern ¦ RBJ negotiated interim office space at 235 Wyman St. for the company to execute its near-term growth plans.
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