Regeneron Pharmaceuticals Inc. has signed a nine-year lease expansion for 116,200 square feet of office and laboratory space at its headquarters at the Landmark at Eastview, the life sciences campus of BioMed Realty Trust Inc. in the towns of Greenburgh and Mount Pleasant.
The deal with Regeneron, the state”™s largest biotechnology employer, raised Landmark”™s occupancy rate to more than 99 percent and its leased space to more than 1.1 million square feet, according to a spokesperson at Transwestern, the national realty firm whose New York City office brokered the deal for the landlord.
The majority of Regeneron”™s added space, 78,000 square feet, is in Building 767 on the Mount Pleasant side of the Landmark campus. The rest is in the Spine building that connects the Greenburgh and Mount Pleasant sides of the property on Old Saw Mill River Road, the spokesperson said.
The expansion deal is separate from Regeneron”™s approximately $100 million construction project that will add 300,000 square feet of laboratory and office space in two buildings rising on the Mount Pleasant side of the campus. The two-year project is scheduled to be completed this year.
Formerly owned by Union Carbide Corp., the 140-acre Landmark at Eastview campus has eight buildings with more than 1.4 million rentable square feet of research and development facilities and high-tech office space.
Transwestern partner Matthew McDevitt represented BioMed Realty Trust in the expansion deal. Peter Capuciati and Alex Blue, executive vice president and senior managing director respectively at Savills Studley in Manhattan, represented Regeneron in the transaction.
