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Case Study

Merck


Merck, known as MSD outside the United States and Canada, is an innovative, global healthcare leader that is committed to improving health and well-being around the world. Merck is one of the largest pharmaceutical companies in the world. Merck engaged Jones Lang LaSalle to locate a site for a new Massachusetts research center with specific demographics.

The site needed to accommodate up to 350,000rentable s.f., and needed to be located within walking distance to Harvard Medical School and/or MIT. In addition, Merck wanted to obtain ownership control of the site. With little developable land in this particular area in MA, Jones Lang LaSalle performed extensive market research and identified several alternatives. Jones Lang LaSalle secured a long-term land lease with Emmanuel College Endowment Campus, a site immediately adjacent to both the Harvard Medical School and Beth Israel Hospital.

We negotiated a transaction for a 350,000 s.f. state-of-the-art research facility that was 30% below market rates, as well as rights to acquire additional development rights up to 400,000 s.f. should Merck require future expansion space.

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