Oxigene Expands Lease in Waltham

WALTHAM, MA-An emerging pharmaceutical company that develops molecular therapeutics to treat cancer and eye diseases has signed a four-year lease extension that added about 2,000 sf to its operations. Under the terms of the reworked deal, Oxigene Inc. now occupies 9,901 sf at 230 Third Ave. The company has been located in the six-story, 290,000-sf Prospect Place office for the past two years.

Charles Kavoogian, first vice president of CB Richard Ellis/Whittier Partners in Boston, tells GlobeSt.com that the expansion was prompted by the company’s recent development of a new drug, now in clinical trials, which required the firm to hire more regulatory and administrative staffers. Kavoogian, along with Matt Flaherty, vice president of CB Richard Ellis/Whittier Partners, represented the tenant. Negotiations for the owner, TA Associates, were handled by John Carroll III with Meredith & Grew’s Boston office along with colleague Elias Demakes and Frank Durand.

Carroll tells GlobeSt.com that the space was “not only able to support Oxigene’s recent growth, but was the right fit for them in the future.” Terms of the lease were not disclosed, but Kavoogian said the class A building with Route 128 frontage rents in the mid-$20 per-sf price range.