Steven M. Purpura, partner of Richards Barry Joyce & Partners, represented Metabolix in the transaction, while Greg Lucas of CB Richard Ellis/Lynch Murphy Walsh Advisors represented property owner Lyme Properties.
Jim Barber, president and CEO of Metabolix, notes that having the "proper laboratory and office space is a vital consideration for our company's success, and will enable us to expand and accelerate our commercialization work."
Purpura points out that the building is a good fit for Metabolix due to its location, the fact that it offers existing laboratory space and a property owner with a history of working with growing biotech tenants.
Lease rates for this deal were not available, but the average asking rent for office space in the area is about $29 per sf. Lab space goes for an average of about $36 per sf.
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