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Boston Scientific Signs 104,000-SF Lease

MAPLE GROVE, MN-The fast-expanding medical device firm is adding a 152,000-sf building to its local campus but needs extra space in the meantime. As a result, the company will occupy the 104,000-sf space in the interim and has the option to buy when the lease is expired.

By Jim McCartney | Updated on June 12, 2005

MAPLE GROVE, MN-Boston Scientific has signed a lease for 104,000 sf at the former GSI Lumonics building near County 81 and 85th Street. A spokeswoman for Boston Scientific says the lease is a result of substantial growth at its stent division headquarters in Maple Grove.

The space will serve as interim space until a major 152,000 sf expansion project on its divisional campus is completed in late September. “Their need is very great–they are showing solid growth,” says Art Brown, a commercial real estate broker with Prudential Metrowide Commercial, who represented the company in the deal.

The building, which is located at 8401 Jefferson Highway North not far from Boston Scientific’s main Maple Grove campus, is owned by GSI Lumonics. Todd Mongrain of Colliers Turley Martin Tucker of Minneapolis represented the owners in the deal. The lease includes an option to buy and will run three years, Brown says. “We will re-evaluate our space needs then,” Murphy says.

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