Carroll of Cummings Properties and Joyce of CBRE/New England handle 6,048 s/f lease

Beverly, MA Pharmaceutical safety firm spmd – safety strategies for health, Inc. moved into a 6,048 s/f suite at Cummings Properties’ 50 Dunham Ridge property. 

spmd was incorporated as a new American company last November. The firm provides services for monitoring the safety of drugs, medical devices, and cosmetics. 

“The Boston area is very attractive for us due to the high concentration of scientific and medical knowledge in terms of potential employees and customers,” said Dr. Diana Witticke, spmd vice president. “We ultimately chose Beverly for its proximity to Boston and excellent commuting options.”

Witticke and Dr. Martin Sujatta, spmd president, discovered Dunham Ridge while looking at private homes in the area. Cummings Properties leasing manager Mary Carroll and CBRE/New England’s Patrick Joyce worked with them to find the space that best suited their needs.

“We fell in love with the building because of its pleasant surroundings,” said Witticke.

Dunham Ridge is a 54-acre campus in a wooded area adjacent to Norwood Pond. spmd joins Microline Surgical, GreenbananaSEO, and Gyver Networks in the former Parker Brothers headquarters building, which is now 90% leased.

The office space was renovated by Cummings Properties’ in-house design and construction teams to include a new employee break room and upgraded finishes throughout.

“We appreciate Mary and Patrick’s professionalism and attention to detail during the entire process,” said Sujatta. “The renovation was done perfectly and on time, right down to the special paint colors and carpeting choices.”

spmd has entered into an exclusive partnership with spm², a German pharmacovigilance service provider. The firm will eventually assume a significant portion of spm²’s existing service obligations in the United States.

“The collaboration with spm² is a strong driver of our accelerated business development and growth,” said Sujatta, noting that spmd expects to add five to seven highly qualified full-time employees by the end of the year.

CBRE/New England is working with Cummings Properties to market the campus, which also includes several pad sites, ranging from 1.5 to 4.5 acres that are available for build-to-suit construction. Construction of a five-story 144,000 s/f class A building is underway at 48 Dunham Ridge, and a foundation has been poured for 52 Dunham Ridge, which will offer an additional 154,000 s/f for new development.

“As one of the few remaining developable sites with frontage on Route 128, Dunham Ridge offers a unique opportunity for corporate and R&D headquarters,” said Joyce.

Cummings Properties, recently named “Large Business of the Year” by Greater Beverly Chamber of Commerce, has a portfolio of more than 10 million s/f of prime space that accommodates offices, healthcare facilities, labs, restaurants, retail storefronts, warehouses, co-working spaces, executive suites, and more. Its in-house experts in design, construction, and property management offer “one-stop shopping” for leasing clients.