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EXTON, PA-Frontage Laboratories Inc., an R&D collaborative based in Malvern, has signed a lease for 23,000 sf in Building One, a flex facility in the five-building Marsh Creek Corporate Center. This lease represents an expansion for Frontage and takes overall occupancy in the center above 94%, according to Anthony Hayden, chairman of Conshohocken-based Hayden Real Estate Investments LLC.

Hayden REI acquired the 20-acre park a year ago, as GlobeSt.com reported, for an estimated $36 million. It consists of the four-story 81,400-sf North Point office building and four single-story flex buildings aggregating 185,616 sf. Tony Hayden Jr. was the sole broker in the Frontage Laboratories transaction. He declined to disclose the aggregate value of the lease.

He tells GlobeSt.com that the market rate in the area for class A office space, such as North Point, is $22.50 per sf, plus electric. “The flex rates usually fall around $10.50 per sf, triple net,” he says, “which breaks down to $13.25 per sf, triple net for the office portion of the space and $7.25 per sf for the warehouse portion.”

Frontage is a collaborative R&D firm that assists partner companies in resolving product development issues in such areas as pharmaceutical analysis, bioanalytical testing and method development. Its clients include drug discovery, pharma and generic pharmaceutical companies worldwide. It will relocate its GMP Pharmaceutical Analysis and Formulation Development groups to the Marsh Creek space.

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