News: Front Section

Cummings Props. extends Thermo Fisher's 107,000 s/f lease at Cummings Center; Cook of Grubb & Ellis represented the tenant - Drohosky represents owner

Cummings Center's largest client, Thermo Fisher Scientific Inc., a world leader in serving science, extended its lease for more than 107,000 s/f with Cummings Properties, LLC. Thermo Fisher Scientific reportedly considered several options in its exhaustive search for space before extending. At Cummings Center, Thermo Fisher Scientific develops and manufactures a full range of water analysis instruments from pH, ISE, conductivity and dissolved oxygen meters to colorimetry, titration, and on-line process monitors. Formerly known as Orion Research, Thermo Fisher Scientific's "Orion" products are reportedly recognized worldwide for quality and accuracy, serving environmental, food and beverage, pharmaceutical and general laboratory equipment markets where precision is important. Vice president and general manager of Cummings Center Steve Drohosky said, "We are pleased to continue our relationship with such an internationally renowned business partner. By signing Cummings Center's first lease before the landmark property was purchased in 1996, Orion Research recognized Cummings Properties' capability to renew and transform the then-neglected former United Shoe Machinery headquarters to its current status as the North Shore's premier office and research park. That decision established Thermo Fisher Scientific as the leader of a continually growing, multi-faceted roster of life science companies occupying more than a half-million square feet in the complex." The award-winning Cummings Center campus is also home to more than 500 diverse businesses, including numerous corporate headquarters, major software developers, high tech start-ups and law practices. Clients include Microsoft, Merrill Lynch, Goldman Sachs, Oxford Global Resources, Liz Claiborne, Wells Fargo, Hasbro, Bright Horizons and Garber Travel. In addition, a burgeoning medical and healthcare community of more than 90 physicians includes numerous Northeast Health Systems and Partners HealthCare affiliates. Joined by fitness centers, two full-service banks, children's, adult and canine daycare, five restaurants, on-site MBTA and CATA bus service, and a 22,000 s/f branch of North Shore Community College, Cummings Center offers an attractive pond-side setting with unmatched amenities. Senior vice president Stephen Cook of Grubb & Ellis represented Thermo Fisher Scientific in its search for space and in the lease transaction. Drohosky represented Cummings Properties.
MORE FROM Front Section

Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.

Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Make PR pop by highlighting unique angles - by Stanley Hurwitz

Make PR pop by highlighting unique angles - by Stanley Hurwitz

Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Five ways to ruin a  Section 1031  Like-Kind Exchange - by Bill Lopriore

Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore

While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.

Four tips for a smooth 1031 Exchange - by Bill Lopriore

Four tips for a smooth 1031 Exchange - by Bill Lopriore

Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.