Terms of the lease are undisclosed. However, the rental rate for the property is listed on the Fox Realty Co. website at $26 per sf. Fox is the owner of the building and the developer of the center. A team from the Wayne-area office of CB Richard Ellis, which includes Dan Dagit, Andrew Spillard and Michael Bronstein, are the exclusive leasing agents for Chesterbrook Center.
Shire's world headquarters are in Basingstoke, UK, and it operates in the UK, US, Canada, France, Italy, Spain and Germany. The firm recently entered the Pacific Rim via Singapore. It is a specialty pharmaceutical provider focused on three key areas: central nervous system disorders and gastrointestinal and renal diseases. Shire was founded in 1986 and is among the fastest growing companies in the pharmaceutical industry. Through mergers, it acquired six pharmaceutical companies in six years. Revenues for 2003 were approximately $1.2 billion.
The cost of the reorganization and consolidation of Shire USA is estimated at $55 million, primarily for the retention and relocation of staff to the new headquarters here, site closures, and other relocation expenses.
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