BOSTON, Jan. 22, 2015 /PRNewswire/ -- Transwestern | RBJ today announces the firm brokered a long-term lease totaling 202,492 square feet of office space for Shire a leading biopharmaceutical company, at Two Ledgemont Center in Lexington, Massachusetts. Transwestern | RBJ's Robert Richards, president, and Brian Cohen, senior vice president, represented Shire in the lease for the entire five-floor building at 95 Hayden Ave.
The lease creates the largest suburban biotech campus in Greater Boston. Two Ledgemont Center is adjacent to Shire's existing campus, which consists of more than 650,000 square feet of office and laboratory space at Lexington Technology Park. In total, Shire will occupy approximately 900,000 square feet in eight buildings in Lexington. In November 2014, Shire announced plans to establish Lexington as the company's U.S. operational headquarters.
"After working closely with Shire's management team to quantify the company's space needs, we created a strategic plan that solved short- and mid-term needs and were able to expand the campus contiguously by sourcing Two Ledgemont Center," said Richards.
As part of Shire's occupancy in Two Ledgemont, Transwestern │ RBJ negotiated interim office space at 235 Wyman St. for the company to execute its near-term growth plans. Transwestern | RBJ has counseled Shire on numerous commercial real estate transactions during an eight-year relationship. Most notably, the firm advised Shire on the lease-up and 2010 purchase of Lexington Technology Park.
Lexington is located in the Route 128 West submarket, which consisted of 22.3 million square feet of office space with 10.5 percent vacancy at the close of fourth-quarter 2014, according to research by Transwestern | RBJ.
The owner of Two Ledgemont, an affiliate of Hobbs Brook Management LLC, was represented by Chip Batchelder, managing director, Wyman Street Advisors.
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 38 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit transwestern.com and follow us on Twitter: @Transwestern and @TranswesternBOS.
SOURCE Transwestern | RBJ