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Acusphere Expands Manufacturing Operations With 58,500-SF Lease

TEWKSBURY, MA-In a deal that demonstrates the willingness of some growing biotech companies to leave the Cambridge area for the lower rents of the suburbs, Acusphere leases a 58,500-sf biotech manufacturing facility at 890 East St.

By Naomi Grossman | Updated on August 17, 2004

TEWKSBURY, MA-Acusphere is leasing a 58,500-sf biotech manufacturing facility at 890 East St. The deal represents an expansion of manufacturing operations for the pharmaceutical company which develops new drugs and improved formulations of existing drugs. The firm will keep its headquarters in Watertown.

Lowell Peabody, senior vice president and Ted Shannon, vice president of NAI Hunneman Commercial, represented property owner, JJ Phelan & Sons Co. Inc, and worked closely with MassDevelopment, the state’s economic development authority, which made an effort to insure that the availability of the property reached prospective life sciences companies. Curt Oberg of Spaulding & Slye represented Acusphere.

The facility was formerly owned and operated by drug manufacturer Muro Pharmaceutical Inc. until it was shut down last year by its European parent company, ASTA Medica. Although Muro sold off most of the equipment that remained in the facility, Oberg says that Acusphere was attracted to the location here due largely to the facility’s infrastructure, previous utilization and expansion capacity.

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