Maryann Gilligan Suydam, senior vice president of Equity Office's Boston region notes that Organon is the building's second tenant following its conversion. "We made a strategic decision to turn this building into a biotech facility given its history as an industrial building, and the long-term market strength of the biotech industry--part of Massachusetts' 'new economy'."

The Cambridge Science Center was originally built in 1909 as a factory for ink production. It was the home of Carter's Ink Co. and was converted to office use in 1985. It is located on the Charles River, adjacent to MIT and Kendall Square. Its conversion to lab space involved a full interior renovation with architectural and engineering upgrades designed to meet the needs of biotech research.

Debra Gould and John Osten of Spaulding & Slye Colliers represented Organon, while Duncan Gratton from Equity Office and Steve Purpura from Richards Barry Joyce and Partners handled the transaction in-house. Lease rates for this deal were not available, but the average asking rent for lab space in Cambridge is about $36 per sf.