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Bio-tech co. takes option for 112,000 s/f.

Only two months after having renewed its 98,000 s/f headquarters lease at 521-33 West 57th Street, Genzyme, the Cambridge-MA-based global biotechnology company specializing in developing products that treat serious diseases and disorders, has exercised its option to expand by an additional 14,000 s/f.

The expansion, on part of the fourth floor, now gives Genzyme a 112,000 s/f anchor position in the building.

Studley's David Dusek, senior managing director, Peter Capuciati, executive vice president and Alex Blue, managing director, represented Genzyme in the transaction, negotiating for the additional space to be co-terminus with the 10-year renewal Genzyme announced at the beginning of July.

"We anticipated Genzyme would act on its expansion option, but perhaps not this rapidly," said Dusek, "since growth is part of the company's long-term strategic plan."

Established in 1981, Genzyme employs more than 11,000. As of 2008, revenues were $4.6 billion.
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Comment:Bio-tech co. takes option for 112,000 s/f.
Publication:Real Estate Weekly
Date:Oct 7, 2009
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