Shortly after this lease transaction, Kelleher & Sadowsky was hired on an exclusive basis to represent the park’s owner, Alexandria Real Estate Equities, in the lease of all vacancy within the biotech park. The K&S team was able to facilitate lease extensions with anchor tenant AbbVie for more than 80,000 square feet, as well as with Microbiotix and the American Red Cross.
In 2013, Alexandria Real Estate Equities sold its three Worcester assets (One Innovation Drive, 377 Plantation Street and 381 Plantation Street) to the University of Massachusetts Medical School (UMass Med) in order to reinvest in Cambridge, MA where they already had a cluster of higher value Class-A CBD assets.
Since then, Kelleher & Sadowsky has remained involved with the UMass Medicine Science Park as leasing agent, with more than 250,000 +- square feet leased to a variety of biomedical and healthcare firms, including AbbVie Bioresearch Center, Inc., Charles River Laboratories, Mustang Bio, Microbiotix, Liberty Biosecurity, Metamark Genetics, Newborn Screening and the GSA Veteran Affairs Clinic.
Today, The UMass Medicine Science Park is currently 100% occupied and the University of Massachusetts Medical School is evaluating options to construct Biotech 6 – a proposed state-of-the-art, 100,000 +- square foot Class A laboratory and life science building located at 395 Plantation Street in Worcester. And, ten plus years later, we are happy to report that our first customer, UMass Pathology, still resides at One Innovation Drive, continuing in its research and development efforts to save lives and rid the world of cancer.