NAI Hunneman Commercial inked a lease agreement to a pharmaceutical company for a 58,500-square-foot biotech manufacturing facility in Tewksbury, Mass.

The value of the transaction was not disclosed.

Watertown, Mass.-based Acusphere, a specialty company that develops new drugs and improved formulations of existing drugs, will expand its manufacturing operations to 890 East Street in Tewksbury. The firm will keep its headquarters in Watertown.

Lowell Peabody, senior vice president and Ted Shannon, vice president of NAI Hunneman Commercial, represented the landlord, JJ Phelan & Sons Co. Inc, and worked closely with the MassDevelopment, the state’s economic development authority, to insure that the availability of the property reached prospective life sciences companies. Curt Oberg of Spaulding & Slye represented Acusphere in the transaction.

Acusphere will begin tenant improvement construction in Tewksbury within the next few months to begin relocating its manufacturing operations. The company signed a five-year, nine-month lease containing two five-year renewal options. 

Boston-based NAI Hunneman Commercial is a provider of commercial real estate services.

***

What’s your opinion? Send your Letter to the Editor to newsroom@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription