Winstanley Enterprises, BioMed Realty Trust, The Medicines Company, The Hampshire Companies, RedPath Integrated Pathology, Omnicare Clinical Research
Report: Winstanley Buys 25 Science Park in New Haven, Conn., for $14.5M from BMR
Winstanley Enterprises of Concord, Mass., has added to its life sciences portfolio in New Haven, Conn., by acquiring a ground lease for the 270,000-square-foot 25 Science Park (150 Munson St.) from BioMed Realty Trust for $14.5 million, according to a third-quarter office market report by the commercial real estate brokerage Colliers Dow & Condon.
The report was the source of an Oct. 20 article in the New Haven Register, which quoted a broker as saying Winstanley’s challenges include filling the 30,000 square feet set to be vacated by Alexion Pharmaceuticals. Alexion is consolidating operations into its headquarters in Cheshire, Conn., and a manufacturing plant in Rhode Island.
BioMed took control of 25 Science Park, as well as ground leases for a 295-space parking lot and an abandoned parking lot, both on Winchester Avenue, last February as part of a $511 million acquisition of sites from Lyme Properties of Hanover, NH. Lyme completed a $30 million renovation of the building a few years ago.
25 Science Park is part of the 80-acre Science Park, owned by Science Park Development Corporation, which last week finished taking responses for a Request for Qualifications from builders interested in buying another piece of the campus — a 7.3-acre parcel called Tract A (275 Winchester Ave.), consisting of 15 industrial buildings bounded on the east by Mansfield Street, on the south by Munson Street, on the west by Winchester Avenue, and on the north by Science Park tracts D and E [BioRegion News, Sept. 17].
Winstanley already owns 300 George St., a 560,000-square-foot lab-office building it acquired in 2000.
Life sciences companies have shown some interest in New Haven, the Colliers Dow & Condon report said. It cited two biotechs, Optherion and Cognate, which agreed to lease 8,000 square feet each at 555 Long Wharf Road.
The Medicines Company Signs Lease for Second Building in Parsippany, NJ
The Medicines Company, a publicly traded pharmaceutical company, has signed a 15-year lease agreement to occupy 8 Sylvan Way in Parsippany, NJ. The 105,000-square foot building – which will be the company’s second in Parsippany – will be stripped to its steel, then rebuilt by The Hampshire Companies, a real estate development firm based in Morristown, NJ
The building, 8 Sylvan Way, is currently 105,000 square feet, but will be expanded to 173,146 square feet.
Medicines Company will occupy the entire building starting in August 2008, after Hampshire completes its gut-rehab project there. Medicines has been based in Parsippany since 2001, when the company moved from Cambridge, Mass., to its present headquarters at 8 Campus Drive.
RedPath Integrated Pathology Tripling Lab Space With Move to New Pittsburgh HQ
RedPath Integrated Pathology will more than triple its office and laboratory space when it moves within Pittsburgh early next year from the North Side to a new headquarters in the Strip District, the Tribune-Review reported.
RedPath, the developer of a testing technology used for molecular diagnosis and treatment of cancer, has signed a lease to occupy 20,000 square feet on the two top floors of Spring Way Center, a four-story, 37,000-square-foot building at 2515 Liberty Ave.
"We've more than doubled our staff this year — from 14 to 31 now — and we expect that number will be about 40 by the end of the year," Mary Del Brady, the company's chief executive, told the Tribune-Review. "Next year, we expect to double employment once again."
Revenue growth has been on a similar track, with 2006 revenue of $2.8 million expected to double this year, Brady said. Last December, the company announced it had closed on a $6.5 million series A venture capital round.
RedPath has received $300,000 in funding through the Pittsburgh Life Sciences Greenhouse, which assists regional startups.
Bill Matthews of Howard Hanna Commercial Real Estate Services represented RedPath in the lease deal. Warren Lehmeier and Richard Beynon of Beynon & Company represented the landlord, Spring Way Center LLC.
Parsippany, NJ, Contract Research Organization Expands Bangalore, India, Operations
Omnicare Clinical Research has relocated its Bangalore, India, office to an expanded space designed to accommodate what the contract research organization said in a press release was increased business activities.
The new office, now located at Embassy Point Building, Ground Floor, Infantry Road # 150 in Bangalore, has doubled in size to 10,000 square feet. Omnicare Clinical Research opened its Bangalore office in 2002 and operates offices in 31 countries worldwide. The company is a subsidiary of Omnicare, a provider of pharmacy services to long-term care facilities and other chronic care settings.