June 27, 2002 Coatue leaves Cambridge for Woburn Woburn,
MA - Coatue, a ventured-funded emerging technology firm, recently
leased more than 7,000 square feet at 25 Olympia Avenue, Woburn. Formerly
based in a business incubator in Cambridge, Coatue's move to Woburn is
said to be driven by its rapid growth and a desire to escape the high
costs and difficult parking of Cambridge. Like
many new firms, Coatue reportedly has aggressive expansion plans. According
to company officials, Coatue will use the Woburn facility, owned by privately
held Cummings Properties, to manufacture prototypes using its proprietary
polymer microchip technology. Coatue
principal Andrew Perlman reportedly identified the technology after a
worldwide search. Perlman, a successful entrepreneur, co-founded Cignal
Global Communications, an international telecommunications service provider,
later acquired by Priority Telecom. Keith
Coulter of Waltham-based McPherson Corporation represented Coatue in the
search for space and lease negotiations. Coulter reportedly showed Coatue
dozens of properties before the Woburn site was selected. The space Coatue
chose was already built out with laboratory benches and exhaust hoods
and would allow production to start almost immediately. According to Cummings
Properties, the space became available as a result of the existing tenant
more than tripling its size and moving to a new location. Derek
Cook, senior leasing officer with Cummings Properties noted, "We
are excited to have Coatue join us in Woburn. Andrew Perlman has already
demonstrated his ability to build a successful company and we look forward
to assisting Coatue's growth." Cook also noted that the Olympia Avenue
campus is home to several other high technology firms. Cummings Properties leases, owns, and manages a portfolio of 8 million square feet in 10 communities north of Boston. Dozens of emerging technology firms are among its nearly 2000 tenants. |