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CYTYC Takes 216,000 SF in Long-Term Lease

MARLBOROUGH, MA-CYTYC Corp. leases 216,000 sf at the Campus at Marlborough, a 530,895-sf four-building campus owned by an affiliate of Berwind Property Group. The deal brings the occupancy at the Campus up to 95%.

By Naomi Grossman | Updated on January 27, 2004

MARLBOROUGH, MA-In a major coup for the Berwind Property Group Ltd., CYTYC Corp. is leasing 216,000 sf at the Campus at Marlborough, a 530,895-sf four-building campus owned by an affiliate of BPG. The 15-year lease is one of the largest completed in suburban Boston in recent years.

CYTYC, which develops and manufactures medical diagnostic products, is leasing the entire building at 250 Campus Dr. The company plans to relocate its approximately 300 employees at its headquarters from Boxborough. The company expects to begin construction of its improvements to the building by this summer and expects to occupy the facility by early 2005.

This deal will bring the Campus’ occupancy to 95% in a market that continues to experience availability rates of nearly 32%, according to Spaulding & Slye Colliers’ most recent statistics. John Brogan, vice president of BPG who negotiated the lease, notes, “We believe that this transaction further evidences the property’s position as the preeminent office park along the Route 495 Corridor.”

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