Praecis Pharmaceuticals Incorporated is a biopharmaceutical company focused on the discovery, development and commercialization of innovative therapies to either address unmet medical needs or offer improvements over existing therapies.
830 Winter Street, Waltham, Massachusetts
Requirement: |
- Partial sale-leaseback of a 179,855 square foot headquarters facility for a publicly traded life sciences firm.
- SEC reporting required the process to have transparency and sensitivity to quarterly financial reporting.
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| Solution: |
- Managed a three-pronged marketing effort targeting owner occupants, institutional investors and life science buyers.
- Hired consultant to re-measure the building according to modified BOMA standards.
- Integrated capital market expertise with local leasing experience in order to reach and educate the widest possible audience.
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| Result: |
- Generated offers from users, a wide range of institutional investors and publicly traded office and life sciences REITs.
- Modified BOMA measurement resulted in a 2% increase in marketable square footage.
- Office and life science underwriting expertise and capital market knowledge resulted in highest per square foot pricing in the Boston suburbs in 2005.
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