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Boca Raton News

ARTICLE

Date ArticleType
6/29/2021 General
NAI/Merin Hunter Codman Negotiates 33,488 SF Lease

NAI/Merin Hunter Codman Negotiates 33,488 SF Lease on behalf of Boca Raton’s LGM Pharma as part of their Nexgen Pharma Acquisition

Mid-pandemic, NAI/Merin Hunter Codman’s Senior Associate Jeffrey A. Cebula partnered with NAI Capital Commercial to complete a 7-year, 33,488 SF, industrial lease in Orange County, CA.

Boca Raton, FL & Irvine, CA – NAI/Merin Hunter Codman, a leading South Florida commercial real estate firm, represented LGM Pharma, a Boca Raton-headquartered pharmaceutical manufacturing company, in a 33,488-square-foot warehouse space lease to accommodate LGM Pharma’s acquisition and expansion of the contract manufacturing business of Nexgen Pharma. Jeffrey A. Cebula, Senior Associate of NAI/Merin Hunter Codman’s Tenant Representation Division, partnered with Executive Vice President, Michael Arnold and Executive Managing Director, Brian Childs of NAI Capital Commercial’s Tenant Consulting Group to complete the 7-year industrial lease at 2741-2745 Dow Avenue, Tustin, CA. The landlord was represented by Cushman Wakefield.

LGM Pharma is a leading provider of comprehensive active pharmaceutical ingredient (API) sourcing and drug product contract development and manufacturing (CDMO) solutions to the pharmaceutical, biotechnology, and compounding pharmacy industries. In July of 2020, mid-pandemic, LGM Pharma acquired the formulation development and drug product contract manufacturing business of Nexgen Pharma, Inc. The acquisition united LGM Pharma’s global leadership in API sourcing, distribution, and supply chain management with Nexgen Pharma’s comprehensive drug product CDMO services. The combined firm, which is known as LGM Pharma, has all the capabilities needed to help pharmaceutical and biotechnology customers accelerate and optimize the new product pathway, from early R&D and clinical development through manufacturing, regulatory submission, commercialization, and distribution.

Mr. Cebula, a 30-year tenant representation specialist, represented Hamilton Lenox, Senior Vice President of Business Development for LGM Pharma in the lease. “I first approached Jeff, who I met at various Business Development Board of Palm Beach County events, about a modest industrial space needed in California due to LGM’s acquisition and planned growth of our new Drug Manufacturing Division,” stated Mr. Lenox. “Despite California’s Covid-19 lockdown challenges, our space needs changed from an initial 2,500 square feet to over 30,000, and Jeff, being based in South Florida, was able to identify, negotiate, and finalize an industrial lease across the country, meeting LGM’s very specific location, industrial and budget requirements, all within a critical timeframe.”

Jordan Paul, CEO of NAI/Merin Hunter Codman stated, “NAI/Merin Hunter Codman’s has a worldwide reach of over 5,000 in-market commercial real estate experts. Through our NAI Global affiliation we provide our clients in-market expertise, wherever their need, by partnering with over 300 NAI offices throughout the world. Hats off to Jeff for leveraging his tenant representation expertise and the NAI Global network to fit his local client’s cross-country need.”

About LGM Pharma

LGM Pharma is a leading CDMO provider of comprehensive API sourcing and drug product contract development and manufacturing solutions to the pharmaceutical, biotechnology, and compounding pharmacy industries. LGM Pharma assists clients in managing all phases of the drug product development process, from Active Pharmaceutical Ingredient (API) sourcing through to commercialization. LGM Pharma’s extensive global network of qualified API partners enable clients to optimize supply chain management and distribution. Services include formulation development, analytical methods development, methods and process validation, ANDA / NDA product submission, stability studies, raw material, and finished product testing and packaging. LGM Pharma is committed to quality. It has a long-established positive regulatory track record and provides expert regulatory and market intelligence services to its clients. The company is focused on customer service and customized solutions, providing clients a comprehensive, one-stop manufacturing solution that reduces risk, increases efficiency, and accelerates the path to commercialization. For more information, visit lgmpharma.com.

 

About NAI/Merin Hunter Codman

NAI/Merin Hunter Codman, www.mhcreal.com, is one of South Florida’s leading commercial real estate firms with over three decades of experience advising clients on strategic acquisitions and dispositions and providing landlord representation, tenant representation, property management and construction management services. The firm has expertise in all commercial property sectors including office, retail, industrial, multifamily, hotels and land. NAI/Merin Hunter Codman’s client base includes some of the nation’s most prestigious institutional and private equity investors. Operating as part of the NAI Global network, NAI/Merin Hunter Codman can facilitate property transactions around the nation and the world, serving as a single point of contact for its clients’ counsel and execution. NAI/Merin Hunter Codman is headquartered in West Palm Beach, Florida with regional offices in Boca Raton, Palm Beach Gardens and Wellington.

 

About NAI Capital Commercial

NAI Capital Commercial, www2.naicapital.com, is the largest agent and employee owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, a leading global commercial real estate services firm with more than 300 brokerage offices and over 5,100 professionals spanning the globe, NAI Capital Commercial provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital Commercial offers innovative, customized solutions and seamless service to owners, tenants, investors, and developers throughout Southern California. Our clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital Commercial we work together putting our clients first. NAI Capital Commercial Cal DRE Lic #02130474.

 

About NAI Global

NAI Global, www.naiglobal.com, is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 300 offices strategically located throughout North America,

Latin America, Europe, Africa and Asia Pacific, with over 5,100 local market professionals, managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.

NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.