BOSTON – Transwestern | RBJ announced that it represented Ferris Development Group LLC in a 53,879-square-foot lease expansion with Sanofi Genzyme, at One Research Drive in Westborough, MA. Partners John Lashar and Paul Leone, along with Associate McKenna Teague, represented Ferris Development in the 47 percent expansion.
With Sanofi Genzyme’s total footprint now at 167,901 square feet, the building is more than 96 percent occupied. Ferris Development Group purchased One Research Drive in February 2014 when it was 50 percent vacant for $21.5 million. Sanofi Genzyme moved into 114,022 square feet in fourth-quarter 2014.
“Sanofi Genzyme’s decision to significantly increase its presence in One Research Drive after less than a year certainly validates our investment in this property,” said David Ferris, founder and CEO of Ferris Development. “Our in-house construction team has done a tremendous job bringing the building into the top tier of the MetroWest submarket, and we appreciate the hard work of the Transwestern | RBJ team to attract excellent tenants.”
One Research Drive is a 283,285-square-foot, Class A office building located on Route 9, near Interstate 495 and the Massachusetts Turnpike. Since its purchase, Ferris Development has made significant building renovations and improvements, including a new lobby, stone façade entrance and outdoor patio. The building’s cafeteria and 140-seat auditorium/training area were upgraded and a state-of-the-art, high-definition video conferencing center was added. Wireless internet access, an ATM and a 4,000-square-foot fitness center with locker rooms and showers are among the building’s other amenities.
Louis Kluger with JM Zell Partners Ltd. represented Sanofi Genzyme in the lease expansion with the assistance from JM Zell’s Jeff Zell and Marc Sobel.
According to research by Transwestern | RBJ, the I-495 West submarket consisted of 16,230,000 square feet of office space with 17.4 percent vacancy at the close of fourth-quarter 2015
