Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TARRYTOWN, NY-A pharmaceutical firm that is researching the development of a vaccine for the AIDS virus, has expanded its presence at the Landmark at Eastview complex here. Progenics Pharmaceuticals Inc. has just about doubled its leased space at the complex by taking an additional 38,000 sf of space, according to Jim Brierley, project director for LCOR Inc., the owner of the 750,000-sf property.

Progenics revealed the lease expansion on Oct. 31 when it released its third quarter financials. The company signed a new lease to rent additional laboratory, office and manufacturing space within the Landmark at Eastview complex. Company officials stated that the firm plans to occupy its new space over the next six months. Progenics now leases approximately 80,000 sf at the Tarrytown facility.

“We are talking to them about possibly leasing more space,” LCOR’s Brierley adds. He represented LCOR in the lease deal, while Patricia Ardigo of CB Richard Ellis represented Progenics.

Another major pharmaceutical firm, Regeneron Pharmaceuticals, is the largest tenant at the Landmark complex, leasing in excess of 200,000 sf. Brierley says the Landmark property is currently about 95% leased.

Progenics reported that revenues for the third quarter (ended September 30) were $1.9 million, down from $2.7 million a year ago. For the first nine months of 2003, Progenics amassed revenues of $6.1 million, compared to $7.8 million for the same period in 2002.

In September of this year, Progenics was awarded a contract from the National Institute of Health to develop a novel vaccine against HIV, the virus that causes AIDS. The contract provides Progenics with up to $28.6 million over five years to fund preclinical research, development, and early clinical testing of a prophylactic vaccine. The company has four product candidates in clinical development and several in preclinical development.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.