MARLBOROUGH, MA-Another life sciences lease has boosted the Interstate 495 West CRE market, with Sepracor Inc. renewing and nearly doubling its presence at 33 Locke Dr. The agreement gives Sepracor control of all but 3,000 sf in the two-story, 60,000-sf building, which is owned by Northland Investment Corp. of Newton.

“Northland is very pleased to support Sepracor’s continuing expansion needs at 33 Locke Dr.,” says Richards Barry Joyce & Partners VP Paul Leone, a broker for the landlord on a team including RBJ principals John Lashar and Michael Frisoli. The tenant was represented by Joseph Fallon and Eric Foster of FHO Partners. Reasons cited for Sepracor’s commitment at 33 Locke Dr. include the substantial level of laboratory space available, ample parking and proximity to Sepracor’s headquarters, which is located at 111 Locke Dr. Combined, the factors made 33 Locke Dr., “a very practical and efficient choice,” says Leone.

Forged by the computer hardware industry a quarter-century ago, the I-495 West CRE market has become increasingly attractive to life sciences firms lured by plentiful, cheaper space than that found closer in to Boston. Natick-based Boston Scientific Corp. is among the companies now seeking relief from tight space conditions in its neighborhood, one whose vacancy rate is now consistently in single digits. “The next logical step is to push west,” offers Leone. Another recent transplant has been Cytyc Corp., a life sciences firm now headquartered at the Campus at Marlborough office park. The company also operates a manufacturing facility out of the nearby 445 Simarano Dr.

Sepracor, on the other hand, was among the pioneers of the I-495 West biotech sector, with its roots there dating back to the 1990s. In 2002, the firm acquired a 192,000-sf building it occupied for $34.7 million, and the company is in several other properties there as well. Listed on Nasdaq under the symbol SEPR, Sepracor’s core business is in treating respiratory and disorders of the central nervous system.

Northland Investment Corp. has owned 33 Locke Dr. since 1997. The company is active in several CRE disciplines, with a focus on multifamily product.

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