CBRE has arranged two long-term lease extensions for Thermo Fisher Scientific’s PPD clinical research business at laboratory facilities along Research Way in Middleton, Wisconsin. The extensions cover a combined 233,694 square feet and each runs for 20 years, securing Thermo Fisher’s ongoing presence at the campus.
The Boston-based life sciences company will continue to occupy both laboratory buildings, which support its PPD clinical research operations. According to the parties, the extended leases align with Thermo Fisher’s rapid business growth and its broader commitment to advancing life sciences innovation within its U.S. footprint.
CBRE’s Chase Brieman and James West represented the landlord, described as an affiliate of New York City-based global investment manager Nuveen, in negotiating the lease extensions. On the tenant side, Thermo Fisher was represented by a team from Cushman & Wakefield and Broadwing Advisors. John Boyle and Roger Williams of Cushman & Wakefield, along with Craig Stanley and Deana Porter of Broadwing Advisors, advised the tenant through the transaction.
Speaking about the deal, Brieman noted that the transaction ranks among the largest life science lease deals in the United States so far this year. He added that the commitments underscore Thermo Fisher’s confidence in the Madison-area market as a center for life sciences activity and clinical research.
The research facilities are positioned just west of U.S. Highways 12 and 14 in Middleton. The location places the properties near several business parks and a range of local amenities, including restaurants, shopping centers, hotels and fitness centers, supporting both the workforce and business operations tied to the clinical research activities.
With the lease extensions in place, the landlord secures a long-duration income stream from a major life sciences tenant, while Thermo Fisher locks in specialized laboratory space that aligns with its current and future research needs in the Madison region.
