Kos Takes 90,000 SF for HQ, Labs

Cushman & Wakefield's George Keller, based in New York City, and Peter Hamburger of the firm's East Rutherford, NJ office, represented Kos in negotiating the long-term transaction. The locally based Cedar Brook Corporate Center owns the building, which is part of a larger technology-oriented business campus. Terms of the signing were not disclosed.

The move is part of an effort by Kos to restructure its operations. The company will move its official headquarters to New Jersey, but will split its headquarters staff approximately 50-50 between here and Florida. Kos will also retain existing facilities in Weston and Hollywood, FL, as well as Raleigh, NC and Edison, NJ.

"We are making these moves for a variety of strategic business reasons," says company president and CEO Adrian Adams. "We continue to make measured investments in all areas of our business, and in particular, research and development.

"This location is not only convenient to our Edison facility, but it is also in the epicenter of the resource-rich environment of pharmaceutical talent here," Adams continues. He adds that the move will aid in recruiting efforts, secures space to facilitate current and future growth plans as well as provides further efficiencies along department lines.

Kos develops, makes, commercializes and markets proprietary prescription products for the treatment of chronic conditions. Its main product development strategy is to reformulate existing products with large market potential, according to Adams. The company is currently marketing Niaspan and Advicor for cholesterol disorders and Azmacort for treatment of asthma, and is developing additional products.

Kos' new home is a freestanding, two-story building on a 7.5-acre site. The asset is built out with a pharmaceutical lab, with office and administration support space. Customization of the space is expected to be completed shortly and the company's move-in will be phased.