Tuesday, December 2, 2008

Biogen expected to move to Weston

By Mass High Tech Staff

Biogen Idec Inc. has confirmed plans to pack up its Cambridge headquarters and move to the suburb of Weston in 2010, according to online reports.

Although the biotech giant only acknowledged that it recently signed a lease for 350,000 square feet of office space at an undeveloped site, the Boston Business Journal reports  that Biogen (Nasdaq: BIIB) will relocate to the Weston Corporate Centre, owned by Boston Properties Inc.

The BBJ reported that Biogen will move between 400 and 600 staff members in its finance, legal and human resources departments from the current 960,000-square-foot location at 14 Cambridge Center to the new facility. The company will retain about 400,000 square feet of lab space and 200,000 square feet of manufacturing space in Cambridge, according to the BBJ.

Biogen told the BBJ that the lower cost of commercial real estate in the suburbs provided the reason for the move.