|
New England Real Estate Journal July 31, 2003
VisEn Medical, Inc leases 11,000 square feet with Woburn-based Cummings Properties VisEn Medical, Inc., a three-year old biotechnology firm, reportedly leased 11,000 square feet with Woburn-based Cummings Properties, LLC. VisEn’s new headquarters will be at 12 Cabot Road, Woburn.According to officials of the fast-growing biomedical firm, the new laboratory, complete with animal rooms, chemistry, biology and manufacturing areas, is being designed, built and financed by Cummings Properties. Expected to cost more than 1.5 million dollars, the high-tech facility is said to accommodate VisEn’s dramatic growth. VisEn is a pioneer in the development of novel molecular imaging technologies that enable in vivo imaging of molecular activities in animals and in humans. The company’s proprietary technology platforms are based on Fluorescent Mediated Tomographic imaging systems and fluorochrome-based molecular beacons that enable imaging of specific enzymes or disease pathways known to play important roles in different aspects of human disease. The company’s technologies are expected to have a major impact in drug development, and on the screening, diagnosing, characterization and treatment patterns of many different diseases including cancer, inflammation and cardiovascular disease. In addition to the sophisticated facility being custom-built for VisEn, Cummings Properties is completely renovating the facade of 12 Cabot Road, Woburn. The scope and design of the significant upgrade are said to be similar to the firm’s highly successful repositioning and redevelopment of 35 Cabot Road, also in Woburn, and home to leading biotech firms BioProcessors Corporation, Linden Technologies and Cambridge Research and Instrumentation. Executive Vice President Joseph Flaherty, and Tucker Hansen of Meredith & Grew/ONCOR International, represented VisEn in the search for space and lease negotiations. VisEn began looking for space in the 3rd quarter of 2002 and was said to have considered several options before selecting the 12 Cabot Road facility. Cummings Properties’ ability to quickly and cost-effectively design, build and finance the custom facility was said to be a major factor in VisEn’s decision. John Wiseman, vice president of leasing, and Derek Cook, leasing director, represented Cummings Properties. "In this highly competitive market, we are delighted that VisEn selected Cummings Properties," noted Wiseman. Privately held Cummings
Properties owns, leases and manages more than 8 million square feet
of first-class commercial space in 10 communities north of Boston. Biotech
and related firms occupy more than 1.4 million square feet of space
in its properties.
|