Biotech giant Biogen Idec is joining the migration of Cambridge drug developers to the burbs. The company has inked a lease for 350,000 square feet of space for its new corporate headquarters in Weston, according to the Boston Globe. The move is expected to take place in 2010.
Like a host of drug developers, Biogen Idec enjoyed its close proximity to a thriving hub of new research efforts underway at MIT and Harvard in Cambridge. But Cambridge is also one of the most expensive places in the country to operate a business, spurring companies to seek out cheaper digs in the less expensive suburbs. The Boston Globe recently called attention to the trend, noting that the migration had been making it tougher to find less expensive office and lab space in the area.
- read the report from the Boston Globe