Colliers Inks 88,184-SF Life Science Deal in Andover

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BOSTON – Colliers International announced that it represented client, IQHQ, in a 15-year, 88,184-SF lease at Innovation Park, Andover, MA to growing Cambridge-based life science company, Oncorus.

Oncorus, whose R&D headquarters will remain in Cambridge, will occupy Innovation Park at 4 Corporate Drive as an additional location for high-quality GMP clinical manufacturing space.

“We’re thrilled that we will be developing a state-of-the-art clinical manufacturing facility at Innovation Park in Andover,” said Steve Harbin, Chief Operations Officer and Chief of Staff at Oncorus. “This facility will play a central role in enabling us to advance our mission to realize the full promise of viral immunotherapy for cancer patients.”

IQHQ acquired the 211,940-SF life science campus from owner-occupier, Eisai, Inc., back in early 2020, and in partnership with Colliers has completed leases to UMASS and Ora Clinical in addition to this latest signing. For many of the same reasons that IQHQ was originally attracted to Innovation Park from an acquisition standpoint – first-class life science infrastructure, high quality finishes, accessibility and proximity to Greater Boston biotech clusters – Oncorus also viewed the building as a premier location and facility for a clinical manufacturing outpost to their Cambridge HQ.

“Our acquisition and redesign of Innovation Park supports IQHQ’s vision to provide premier office, lab and manufacturing facilities for companies such as Oncorus, which will support the increasing demand for medical innovation and life science space in Greater Boston,” said Doug Cuff, Vice President at IQHQ. “We are incredibly excited about leasing momentum and the establishment of a growing cluster in Boston’s northern suburbs.”

Although the campus was previously occupied by a single user with Eisai, its layout is highly conducive and versatile for multi-tenanting. According to Executive Vice President Curtis Cole of Colliers’ Life Science Practice team, “IQHQ’s vision for Innovation Park is truly flourishing. They have invested significant capital into what was already first-class space with the goal of making it a life science destination for multiple GMP users all under one roof.”

Upon Oncorus joining the tenant roster, approximately 100,000 SF of vacancy will remain available for lease. Tenants will benefit from extensive renovations to the building’s amenities – including state-of-the-art fitness center, updated and expanded high-end café, as well as improvements to outdoor gathering areas and landscaping – that are currently underway with anticipated completion in the coming months.

Joining Cole in representing IQHQ were Executive Vice President Greg Klemmer and Assistant Vice President Tim Allen. Oncorus was represented by JLL’s Peter Bekerian in the transaction.