Life Sciences, Biotech, Real Estate

Biogen Confirms HQ Move from Cambridge to Suburbs

Ryan McBride 12/2/08

Biogen Idec (NASDAQ:BIIB) confirmed yesterday that the biotech company plans to move its corporate headquarters from Cambridge, MA, to a site in Weston, MA, in 2010, the Boston Business Journal reports. A company spokeswoman told the BBJ that the firm has recently inked a lease on 350,000 square feet of office space in the Boston suburb, where up to 600 Biogen employees will move from the current headquarters at 14 Cambridge Center.

Rebecca back in October wrote about speculation about the big biotech’s plans to relocate its headquarters, after the story broke in the Boston Globe. The Globe reports this morning that Biogen says its headquarters will be at an undeveloped site at the junction of Routes 20 and 128 in Weston.

Though Biogen’s corporate offices will move, company spokeswoman Jennifer Neiman told the BBJ, the biotech plans to continue operations in 400,000 square feet of lab space and 200,000 square feet of manufacturing space in Cambridge. Biogen will join Waltham, MA-based Immunogen (NASDAQ:IMGN) and other biotechs to recently relocate headquarters from Cambridge to the western suburbs, where office rents and parking costs are generally less expensive than Cambridge rates.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.