Thomas V. Giannone, Ron Ganter, Robert Bull and James Schroeder of Julien J. Studley's New Jersey office represented Enzon in the transaction. The new terms give the company an option to expand the building with a contribution by the owner of the property, who was not named. Enzon is expected to move ahead with plans to expand the building's lab space capabilities.
"Enzon projected growth in all business areas and is ready to make a significant investment in new labs and for the renovation of existing one," according to Giannone. "The new lease structure provides the company with long-term control of the building, ensuring that the lab improvement dollars will be fully utilized during the extended term."
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