According to Jeff Richardson of Amgen, this is the California-based company's first presence in the area. The company has over 500 employees in its headquarters and plans to put 100 of its research staff here. The remainder of the space will be leased out.

In a released statement, Kevin Sharer, the company's chief executive says, "It's important to Amgen's growth and success to have a strong presence in the Cambridge-Boston biotechnology community." Amgen also has facilities in Colorado, Kentucky, Washington DC and Puerto Rico and has 24 offices throughout the world.

This area's office market has been severely impacted by the recent downturn in the economy as many of its dotcoms and high tech-related businesses went under or cut back. But it still maintains a strong biotech presence as many companies opt to be close to other biotech companies as well as to the local universities and hospitals.