MiddleBrook Pharmaceuticals changed ownership last year and shifted some of its operations to Texas. Brady, along with colleague Henry Bernstein, represented MiddleBrook Pharmaceuticals in the transaction. The duo negotiated a release of MiddleBrook Pharmaceutical's current lease--which expires in 2013--permitting Fisher BioServices to sign a prime lease for the space directly with Minkoff. "This is not a sublease--it is a direct deal between Minkoff and Fisher," Brady says.
The previous tenants provided a lot of infrastructure that made it attractive--heavy power, a back-up generator, HVAC, Brady adds, which is making the transaction cost-effective for the new tenant since it won't have to invest in those upgrades. "It is more than a typical shell flex building." Fisher BioServices will be using the space for its freezer/lab repository to preserve research samples for the company's clients.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
