Boca Raton’s LGM Pharma Finalizes Lease Agreement as Part of Nexgen Pharma Acquisition
After acquiring Nexgen Pharma as part of its expansion into the pharmaceutical manufacturing industry, Boca Raton-based LGM Pharma recently signed a lease to use a 33,488-square-foot warehouse space to accommodate the acquisition.
NAI/Merin Hunter Codman, a leading South Florida commercial real estate firm, helped negotiate terms of the lease agreement, which features a 7-year industrial lease at 2741-2745 Dow Ave. in Tustin, CA. To complete the deal, Jeffrey A. Cebula, Senior Associate of NAI/Merin Hunter Codman’s Tenant Representation Division, partnered with the Executive Vice President, Michael Arnold and Brian Childs, the Executive Managing Director of NAI Capital Commercial’s Tenant Consulting Group on the lease agreement.
“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,” says Hamilton Lenox, Senior Vice President of Business Development for LGM. “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.”
LGM Pharma acquired Nexgen Pharma, a development and drug product contract manufacturing business, in July of 2020 to unite LGM Pharma’s global leadership in API sourcing, distribution and supply chain management with Nexgen Pharma’s comprehensive drug product CDMO services.
The move allows LGM Pharma, a leading provider of comprehensive active pharmaceutical ingredient (API) sourcing and drug product contract development and manufacturing (CDMO) solutions, the capability to help its pharmaceutical and biotechnology customers accelerate and optimize new product launches from the early stages of research and development to clinical trials through manufacturing, regulatory submission, commercialization and distribution.