03/12/2008

Condyne Signs a 10-Year Lease with Mayo Clinc

Condyne, in joint venture with Greenstreet Real Estate Partners, has just executed a 10-year lease for 53,000 SF with Mayo Medical Laboratories at 160 Dascomb Road in Andover, MA. Mayo Laboratories is the diagnostic reference laboratory for The Mayo Clinic. The firm will relocate from a 30,000 SF facility in Wilmington, MA - nearly doubling it’s space requirements. 160 Dascomb Road is a 111,640 square foot warehouse and office building that is conveniently located just off of Route 93 and only minutes from Route 495 - one of the most active flex/industrial markets in Eastern Massachusetts.

Mayo Medical Laboratories has agreed to lease 45,000 SF of warehouse and 8,000 SF of office space. The warehouse space will be converted to various types of labs including chemistry, toxicology, and serology labs for testing blood. Advantage Construction is currently preparing the existing warehouse to be in shell condition for Mayo while also making exterior improvements to the building and surrounding grounds. The building will have a new roof, HVAC system, a Dri-design aluminum wall panel facade, a new store-front and additional windows. Site improvements include a new monument sign, flagpole and additional landscaping.

Mayo Medical Laboratories specializes in esoteric laboratory testing for health care organizations throughout the United States and around the world. Its mission is to support the local delivery of laboratory services by providing exceptional reference testing and support services which facilitate and augment community integration efforts.