Organogenesis Signs 10-Year, 43,850-SF Office and Lab Lease in Norwood

0
556
333 Providence Highway (Photo courtesy: Loopnet)

NORWOOD, MA— Organogenesis Inc., a regenerative medicine company focused on the development, manufacture and commercialization of product solutions for the Advanced Wound Care and Surgical and Sports Medicine markets, has signed a 10-year, 43,850-square-foot lease in Norwood, MA, according to the company’s Form 8-K filings with the Securities and Exchange Commission.

Organogenesis, a wholly owned subsidiary of Organogenesis Holdings Inc., entered into a lease with Bobson Norwood Commercial, LLC, as Landlord, for approximately 43,850 square feet at 333 Providence Highway, Norwood, MA for office and laboratory use.

According to official filings, the lease commenced on March 13, 2019 and the rent commencement date will be February 1, 2020. The initial lease term is 10 years from the Rent Commencement Date. Under the Lease, the Company will pay a monthly rent as set forth below:

In the first year, the monthly lease will be $87,700.00 and will go up to $120,587.50 in the 10th year.

During the term of the lease, the company will also pay its share of operating expenses, taxes and any other expenses payable under the Lease. The Lease includes an early option to extend the term for a period of five years, provided that the company exercises its early extension option within twenty-four months of the rent commencement date, according to SEC filings.