Berwind Property Group inked a 15-year lease agreement on behalf of CYTYC Corp. for 216,000 square feet in Marlborough, Mass.
The value of the transaction was not disclosed.
The space is located at The Campus at Marlborough, a 530,895-square-foot, four-building campus owned by an affiliate of BPG.
CYTYC will lease the entire 216,000 square foot building at 250 Campus Drive and will be relocating its approximately 300 headquarters employees from Boxborough.
This lease transaction will bring The Campus’ occupancy to 95 percent.
CYTYC Corp. designs, develops, manufactures and markets the Thin-Prep System for use in medical diagnostic applications, primarily focused on women’s health. The Thin-Prep System is used for cervical cancer screening, and its platform is now being utilized to launch the company’s expansion into breast cancer risk assessment.
CYTYC plans to begin construction of its improvements to 250 Campus Drive by the summer of 2004 and expects to occupy the facility by early 2005.
Kevin Hanna of Cushman & Wakefield represented CYTYC in the transaction, while Kevin Malloy of Lincoln Property Co. represented Berwind.
Philadelphia-based Berwind Property Group Ltd. is a privately held real estate investment company.
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