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IRVINE, CA-ICN Pharmaceuticals has signed a seven-year lease valued at $2.2 million to relocate one of its laboratories into a new research and development facility.Located at 15 Morgan Place, the 37,700-sf building is in a prime location and has an efficient layout, fulfilling ICN’s needs for a state-of-the-art facility for its biomedical division. The company will spend more than $1 million to convert the property into a Class A lab space.

“ICN is committed to the research and development of biomedical drugs, and the facility allows them to maintain its commitment,” said one of the brokers on the deal. Based in Costa Mesa, ICN produces drugs for research at universities, hospitals and for other drug manufacturers.

Brokers from Voit Commercial Brokerage’s Anaheim Metro and Irvine offices represented both ICN and the owner, the Burnett Family Trust, on the transaction.

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