The property was originally purchased in 2002 by Hall Gillespie from Lucent Technologies, Inc. for $27.5 million. The 100-acre site is situated just off Route 495 and is comprised of three buildings ranging in size from 100,000 sf to 200,000 sf as well as approvals to build another 500,000 sf of development. The development team had installed a multi-million dollar new entry road to the complex and was proceeding with a master plan for major building renovations.

Ian S. Gillespie, a partner at Hall Gillespie, tells GlobeSt.com that his firm had designed and priced a "fairly extensive" renovation on the campus when Boston Scientific approached with an offer. "We always saw this site as a premier corporate campus and were prepared to re-develop it ourselves," he says. "We are delighted that a company like Boston Scientific purchased this property and wants to utilize it for its own corporate campus. This transaction sends a very important message to the people of Massachusetts and the Metro West area that Boston Scientific, one of the region's great companies, has a strong commitment to grow in the area."

Gillespie tells GlobeSt.com the campus had been on the leasing market. Currently the buildings are nearly vacant with IQS occupying 7,500 sf and Stratus Corp. holding the lease for 26,300 sf. Stratus acquired the lease with a recent acquisition. But, Gillespie acknowledges, "We were prepared for a longtime hold, which we have done before."