Leading global commercial real estate services firm Colliers (NASDAQ and TSX: CIGI) announces it has secured an 81,293-square-foot sublease on behalf of Tegra Medical, a leading medical device contract manufacturer, at 9 Forge Parkway, a state-of-the-art manufacturing space in Franklin.
Colliers southwest leasing expert Stephen Woelfel led the transaction negotiations alongside team members Kevin Brawley, PJ Foster, John Real and Glenne Bachman. The new tenant, Lyndra Therapeutics, is expanding its operations out of Watertown to the 495-submarket. Lyndra Therapeutics is a biopharmaceutical company pioneering the first-ever oral, ultra-long-acting, extended-release therapies.
Tegra Medical previously occupied the entire building at 9 Forge Parkway before expanding its operations to 120,000 SF at 16 Forge Parkway. Life science and biopharmaceutical companies alike are looking to expand their footprints in the 495-submarket due to a lack of supply in Cambridge and 128. Colliers research has found that office product along the 495 belt has been scrapped or converted for new industrial to be built, including for new warehouse, distribution or flex space.
“We’ve worked with Tegra Medical for several years and it was a pleasure to develop a flexible real estate solution to accommodate the company’s continued growth at 16 Forge Park, a lease we previously helped to secure,” said Stephen Woelfel, Senior Vice President, Colliers
The property, which features 6 loading docks, is situated on 8.23 acres of land and is conveniently located just off I-495 and is near a MBTA commuter rail station. It is also located within Forge Park, a mixed-use project that includes 2.75 million square feet of commercial space, a retail center, a childcare center, hotel, YMCA and residential development.
CBRE’s Tim Lahey, Perry Beal, and John Lashar represented Lyndra Therapeutics in the lease negotiations.