"Intercontinental is pleased to have ImmunoGen as a tenant andwe look forward to a long-lasting relationship with such areputable company," says Thomas Taranto, head of asset andportfolio management for the landlord. ImmunoGen CFO Daniel Juniuscited the ability to combine all of the firm's administrative andresearch functions in a single facility as key to their decision tovacate one of the world's top concentrations for life sciencescompanies. "We think 830 Winter St. is ideally suited to our needsand will provide us high-quality lab and office space for manyyears," says Junius.

As exclusive leasing agents for 830 Winter St., Richards BarryJoyce & Partners negotiated terms on behalf ofIntercontinental, while Roy Hirshland and Mike Shreve of T3 Advisorwere brokers for the tenant. Michael Frisoli and Ron Friedman ofRBJ handled the assignment for Intercontinental along with RBJprincipal Jon Varholak, who notes that Lexington and Waltham havebecome preferred alternatives for Cambridge companies. "Thescarcity of opportunities in Cambridge, which was created by thetremendous growth of Greater Boston as a hub of biotechnology, hashelped fuel the growth of biotech in the suburbs," saysVarholak.

Of the 3.7 million sf of laboratory space in suburban Boston,Lexington and Waltham account for 36% of the inventory and 62% ofall class A lab product. As of mid-year 2007, the inventory ofsuburban lab supply was at 21%, according to RBJ director ofresearch Brendan Carroll.