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ARECIBO, PUERTO RICO-A 145,000-sf science research building in the final stages of construction here has changed hands, with St. Jude Medical Inc. paying $30 million for the manufacturing facility. The seller was Boston Scientific Corp. The Natick, MA-based medical devices company gained control of the asset as a result of its takeover of Guidant Corp. last year.

"It's a unique building," broker Greg Klemmer tells GlobeSt.com in confirming the sale. The principal of Klemmer Associates negotiated the agreement on behalf of Boston Scientific in partnership with Vicente Rios of Rios Commercial. St. Jude, headquartered in St. Paul, was represented by the Cresa Partners Minnesota office. Located on the north coast of the island about 50 miles from San Juan, Arecibo has a population of about 100,000, and is best known as the home of the Arecibo Observatory.

Situated on an 18-acre parcel less than two miles from Arecibo Municipal Airport, the building was 90% complete at time of the sale to St. Jude. Upon opening, it will provide a class 100,000 particle, humidity and temperature controlled environment, as well as emergency back-up power and cooling systems. Besides the high-tech nature of the structure, Klemmer says it was attractive due to being amongst a concentration of life sciences firms in the area, including such names as Abbott Laboratories, Merck and Pfizer. St. Jude itself has a nearby operation and is looking to do more work in Arecibo and other areas of Puerto Rico.