Vecna Technologies has purchased a building previously occupied by Pfizer in Cambridge for $6.2 million.
Commercial real estate services company Avison Young brokered the sale of 54 Cambridgepark Drive. Principals Jack Kerrigan and Steve Cook represented the seller, Samuels Property Group.
Located in the West Cambridge submarket, the two-story, 26,603-square-foot building was occupied by Pfizer Inc. for the last 10 years. Kerrigan and Jonathan Samuels of Samuels Property Group negotiated the original 10-year lease to Wyeth Pharmaceuticals, which was later acquired by Pfizer.
Vecna, a self-funded, high-technology company, will be expanding its current Cambridgepark Drive operations. Occupancy is slated for the spring.
"We are pleased to have been able to assist Samuels Property Group in the sale of 54 Cambridgepark Drive," said Kerrigan. "The West Cambridge market is experiencing explosive growth and Vecna had to act quickly to acquire this asset in order to ensure that its future real estate needs are met. The property proved to be ideal for Vecna, providing needed expansion space next door to its current location as the company continues to aggressively grow its business."
"For the original Wyeth/Pfizer lease as well as this sale, working with Jack and his team was the key component to a successful and smooth transaction process," said Samuels. "Pfizer has been a terrific tenant and had invested significantly in the building. Fortunately, Vecna was able to benefit from Pfizer’s building improvements, securing a building that meets its overall needs and is in move-in condition."
"The availability of 54 Cambridgepark Drive coincided well with the expansion plans for our Cambridgepark Drive campus," said Daniel Theobald, chief technology officer for Vecna. "We are committed to this thriving location which is ideal for us as we provide the world’s best patient self-service and robotic solutions to the world’s best hospitals. It also affords our employees terrific access to public transportation, countless amenities and easy highway access. The ability to expand at our current location provides for zero employee disruption."
