November 2, 2010 – For Elizabeth Higgins, founder of GlycoSolutions of Worcester, the third time is the charm. After a career in the biotechnology testing field with Genzyme Inc., Higgins started her own company in 2001. Since then, she’s debated moving out of incubator lab space twice, but neither time pulled the trigger.
Now, Higgins plans to open up shop in Marlborough. She plans to move her company and eight employees soon after Jan. 1, 2011.
So what pushed her company over the edge to make the move this time? Well, according to Higgins, now is “a great time to be looking for real estate.”
GlycoSolutions will be moving from its 1,800-sqaure-foot lab at the Massachusetts Biotechnology Initiative’s incubator space on Innovation Drive in Worcester to more than 5,000 square feet of lab space in Marlborough. Higgins is more than doubling the size of her operations while only paying slightly more in rent.
The company, which does quality control testing for pharmaceutical companies, will have new offices at 33 Locke Dr., a three-story, 60,000-square-foot building just off of Interstate 495. The building is owned by WRT Management Corp. of Whitinsville. WRT Management’s portfolio also includes buildings in Marlborough, Framingham and the Roslindale section of Boston.
Sunovion Pharmaceuticals (formerly known as Sepracor) previously occupied the entire building at 33 Lock Dr., but vacated the space when its new headquarters was built off of Interstate 290.
“It can be very difficult for companies to find small lab space, especially smaller than 10,000 square feet,” said William Sullivan, a vice president with Wayland-based real estate company RW Holmes, which brokered the GlycoSolutions lease on behalf of WRT Management. “But right now is still a tenant’s market, so you can find some good deals.”
Higgins said the location is a “perfect fit” for GlycoSolutions, offering laboratory and office space and easy access for her and her employees. Higgins expects to finalize the lease this week.
As for the GlycoSolutions’ business, work has been steady during the past few years, although Higgins would not release financial information about the company.
She said more companies are outsourcing the type of quality control work that GlycoSolutions does in an effort to create cost savings.