An expansion is always an indicator for growth and it seems that Regeneron Pharmaceuticals has experienced growth despite the tumultuous economic conditions. According to a recent report by prnewswire.com, "Regeneron Pharmaceuticals Inc. has signed a nine-year lease expansion with BioMed Realty Trust Inc. for 116,200 square feet at The Landmark at Eastview, bringing the campus to more than 99 percent leased."
The leading life sciences company now rents more than 1.1 million square feet at The Landmark at Eastview campus in Tarrytown, New York. BioMed Realty was represented by Transwestern Partner Matthew McDevitt in the transaction, as further reported by globest.com. Due to their rapid growth, the company is experiencing good times and stable financial growth. The location of their expansion is a strategic one. Owned and managed by BioMed Realty, The Landmark at Eastview is one of the largest multi-tenant science parks in the state, and the research park is located only 30 minutes from Manhattan in central Westchester County in the Saw Mill River Valley near the Hudson River, as further stated in a report by prnewswire.com.
The place offers potential room for growth since it encompasses 140 acreage of land. The Landmark at Eastview contains eight buildings with more than 1.4 million rentable square feet of research and development facilities and high-tech office space, conforming to a recent report by prnewswire.com.
It is not only Regeneron Pharmaceuticals that will be occupying the building since other tenants are already in. Based on an earlier report by globest.com, "Other tenants at the eight-building Landmark at Eastview include Progencics Pharmaceuticals Inc., PsychoGenics and Momentive Performance Materials USA Inc." The multifaceted building is now more than 99 percent rented.
What led to the expansion? One dominant reason is research. The expansion deal comes after Regeneron and Sanofi announced on July 24th that the U.S. Food and Drug Administration permitted its cholesterol-lowering Praluent inhibitor medication. The companies on July 28th reported that they entered into a new global collaboration to discover, develop and commercialize new antibody cancer treatments in the field of immuno-oncology, as stated in a report by globest.com.