X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the industrial market, click here.)

BEDFORD, MA-Santa Clara, CA-based Affymetrix, which develops technology to analyze complex genetic information, has signed one of the largest lease renewals of the year. The company inked a seven-year deal on 80,000 sf of research and development space at 4G Crosby Dr.

Dan Sullivan with Cresa Partners’ Boston office tells GlobeSt.com that the firm opted to keep its regional headquarters in the same space it has occupied for the past five years because of a favorable leasing deal that made the firm the lead tenant in the 330,000-sf Bedford Business Park building. Terms of that lease, which gives the company space on the first and second floors of the two-story building, were not disclosed.

“We looked at a lot of options but the space worked well for them so it didn’t make any sense to move,” says Sullivan, who negotiated the deal for the tenant along with Joe Sciolla and Adam Subber, also with Cresa Partners. Owner Boston Properties was self-represented by David Provost.

The two-story, U-shaped property was also the home to Abbott Laboratories until recently when that company consolidated its operations. The remaining 250,000 sf of office and R&D space in the building remains available for lease.

Only one other lease renewal, signed by Interactive Data, topped the Affymetrix deal in Bedford this year. Under that agreement, Interactive Data secured 95,725 sf at the Crosby Corporate Center where it has been located for the past 10 years. Last year’s top lease deals in the Bedford submarket included a 66,000-sf lease by Empirix at 20 Crosby Dr, and a 53,500-sf lease agreement by Insulet Corp. which took space at 9 Oak Park.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.