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MEDFORD, MA-Akceli, Inc. is leasing 15,600 sf of office and laboratory space at 200 Boston Ave. Meredith & Grew, Inc.’s Tad Lee and Joe Flaherty represented Akceli in the transaction while John Wiseman and Derek Cook internally represented property owner, Cummings Properties.

The move represents an expansion and relocation for Akceli which was previously at One Hampshire St. in Cambridge, MA. The biotech company was founded in 2001 by a team of scientists from MIT’s Whitehead Institute for Biomedical Research and is backed by venture capital firms Atlas Venture and Apple Tree Partners.

The deal is a good one for Medford where the overall vacancy rate has soared from a high of 40.2% this past January, according Trammel Crow Co.. to a whopping 54.4% last month. Lease rates for this deal were not available, but the average asking rent for this city is at about $25 per sf, lower than Cambridge’s rental range, which goes from $30 to $42 per sf.

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