Tepha, Inc. Relocates Company Headquarters to One Ledgemont Center, 99 Hayden Avenue in Lexington, Massachusetts
Lexington, MA, August 9, 2007: DTZ FHO Partners, a leader in the commercial real estate advisory services field, announcedtoday that Tepha, Inc. has moved into 20,000 square feet of research and office space for their new corporate headquarters at One Ledgemont Center, Lexington. Tepha, Inc. recently received clearance from the FDA to market the TephaFLEX® Absorbable Suture in the United States. TephaFLEX suture is the first biotechnology-derived, absorbable suture. Tepha is relocating from 840 Memorial Drive in Cambridge.
One Ledgemont Center, 99 Hayden Avenue is a 180,000 SF Class A office building located at the junction of Routes 2 and 128 in Lexington, MA. Located within a two-building 380,000 SF impeccably landscaped campus; Ledgemont Center offers tenant superior highway access, a premier address, and excellent visibility and frontage from Route 2. Rich with on-campus amenities, Ledgemont Center offers tenants a full service cafeteria, on-site management, covered parking and shuttle service to MBTA’s Alewife Station. Ledgemont Center can accommodate both office and biotech/laboratory users with its first classpresence and exceptional laboratory infrastructure.
“We are delighted that Tepha chose One Ledgemont Center as their new Corporate Headquarters,” stated Michael A. Manzo, Senior Vice President at The Beal Companies. “The new location will allow them to stay close to Cambridge making the transition much easier and the flexibility and space alternatives at One Ledgemont Center will help Tepha to support its growing business. We look forward to a long-term relationship and to Tepha’s continued growth and success.”
According to John Boyle, Partner of DTZ FHO Partners, “Tenants today are looking for quality and value. We are confident that Tepha’s long-term tenancy is a perfect fit for the building as well as the community.”
The leasing team for Ledgemont Center consists of John Boyle and Kim Roop of DTZ FHO Partners. Tad Lee of Meredith & Grew represented Tepha, Inc.
About Tepha, Inc.
Tepha is a medical device firm engaged in the development of a new range of absorbable devices for therapeutic applications. The Company is applying a patented core technology, comprising over 40 issued U.S. patents, which allows it to produce absorbable polymers suitable for use in a wide range of implantable products in the areas of surgical repair, regenerative medicine, and drug delivery.
The Company’s proprietary technology, developed at the Massachusetts Institute of Technology, uses genetic engineering to produce a new class of biomaterials that can be converted into a wide range of products that restore, maintain, or improve tissue function. Potential products range from relatively simple medical devices to more complex products that include cardiovascular stents, intra-cardiac closure devices, ligament and tendon repair devices - as well as drug delivery systems.
About The Beal Companies
The Beal Companies is a closely held firm actively pursuing investment opportunities in all segments of the real estate industry. Since 1888, the Beal family has built a full service Real Estate firm with an enviable reputation. The Beal Companies’ projects and advisory services have been focused not only in Boston but also throughout the United States. Activities include the Acquisition and Development of Commercial, Historic and Residential Properties, Asset Management, Brokerage and Consulting.
For more information on The Beal Companies, visit www.bealco.com.
About DTZ FHO Partners
DTZ FHO Partners is a commercial real estate firm offering a full range of brokerage, consulting, strategic planning, research, lease administration, marketing, lease auditing, lease portfolio and transaction management services for corporate and institutional clients alike. The senior partners of the firm have worked together for over 20 years providing customized advisory consulting and brokerage services to an extensive range of corporate and institutional clients, both locally and on a national and international basis. The experienced professionals that make up DTZ FHO Partners have addressed the real estate needs of many industries including life sciences, high-tech, and financial services as well as law, consulting, accounting and other professional firms, assisting clients to develop and implement customized real estate solutions that enhance their overall business strategies.