"We are delighted that Tepha chose One Ledgemont Center as theirnew corporate headquarters," Beal SVP Michael Manzo says inannouncing the tenant's relocation into 20,000 sf. "We look forwardto a long-term relationship and to Tepha's continued growth andsuccess." The medical devices firm focuses on implantable productsfor use in surgery, regenerative medicine and drug delivery. Thecompany recently won FDA approval to market a new suture, and hasmore than 40 patents related to proprietary technology.

Tad Lee of Meredith & Grew negotiated the lease for Tepha,while DTZ FHO Partners is listing agent for One Ledgemont Center.DTZ FHO principal John Boyle says he believes the Class Afacilities, combined with close proximity to Cambridge and downtownBoston, were prime reasons for the building's selection, as well asthe on-site management team. "Tenants today are looking for qualityand value," says Boyle, who teamed with colleague Kim Roop tohandle the Tepha assignment.

While unclear whether it played any role in Tepha's decision,tenants are also departing Cambridge due to a substantial pricedifferential, especially now that rents in core markets such asEast Cambridge are rapidly accelerating as a result of the improvedeconomy and a dwindling of inventory for both office and laboratoryneeds. Other life sciences tenants either now in the Rte. 128Central market or looking to be there include AstraZeneca, PraeciusPharmaceuticals and Shire Pharmaceuticals.