CB Richard Ellis’ Pat Mulready, Tim Fegan, Elli Klapper and John McCormick represented the buyer and seller, Alliance Commercial Partners.
The entire building is under lease by 454 Life Sciences Corp., a Roche Applied Science “center of excellence” that develops and sells a gene-sequencing system. According to CBRE’s Mulready, the company plans to invest around $5 million to transform it into a biotech facility.
The amount could not be confirmed.
454 Life Sciences spokesperson Katie Montgomery would not disclose the cost for the improvements, saying only, “We are expanding our manufacturing facilities.”
Mulready said Alliance Commercial Partner bought 50 East Industrial Road on July 31, 2008 for $3,527,877.
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