Regeneron pays $73M for vacant land for future growth Regeneron’s landlord at The Landmark, BioMed Realty Trust Inc., paid $98.5 million jgolden@westfairinc.com in 2007 to acquire the developed area of the egeneron Pharmaceuticals Inc., the former Union Carbide campus from LCOR state’s largest biotechnology compa- Inc., a Pennsylvania-based real estate develny, has become a commercial land- opment company, and LCOR’s joint-venture owner in Westchester County with its recent partners in Manhattan, Argent Ventures LLC $73 million purchase of an undeveloped 100- and the former Lehman Brothers Inc. The acre parcel at The Landmark at Eastview, the seller in the recent deal with Regeneron, life sciences campus where Regeneron has Eastview Holdings LLC, now is controlled by Argent Ventures, which also owns Grand One of two Regeneron Pharmaceuticals buildings under construction at The Landmark at Eastview in Mount Pleasant. File photo its headquarters. Regeneron in a statement on May 12 said Central Terminal. At Regeneron, the remarkable pace of said this year marks “an inflection point San Diego-based BioMed Realty was not the company acquired the property “to offer flexibility for future growth.” Greenburgh involved in the $73 million sale that closed job creation and revenue growth has been in our business,” with the U.S. Food and driven by U.S. and foreign sales of Eylea, used Drug Administration due in July to complete town officials last month rezoned the prop- in late April. LCOR in 2011 proposed to Greenburgh in the treatment of eye diseases, the com- its accelerated review of Praluent, an antierty as a planned economic development officials to build nearly half a million square pany’s development and commercialization body drug used to lower “bad” cholesterol in district. Chubb - 153044 Ship Info: Westchester Business Journal Publication: Westchester Business Journal retail space on the collaborations with Bayer HealthCare and patients, which could potentially be marketThe fast-growing biotech company cur- feet of hotel and big-box 3 Gannett Drive Ste G7 White Plains, NY 10604 IO #: None Project: up to Chubb company, ed this year. Schleifer also noted the continrently is embarked on a $100Move million expan- vacant 100-acre site and sought a new zoning Sanofi, the French pharmaceutical Attn: Patrice Sullivan Issue: March 23 March drugs. ued advancement of the company’s pipeline The planned and a growing pipeline of antibody sion project on theCampaign: Mount Pleasant side of classification for the property. t: 914.694.3600 f: None Ad Type: Single Creative: 153044_Chubb_MoveUp_WestchesterBusJrnl_Mar23.v2 of drugs in various stages of development, district approved Regeneron this month reported first-quarter the Landmark campus, which straddles Old economic development = 10” X 5.625” total revenues of $870 million, a 39 percent David Wood square “which we expect to include five late-stage last month by the Greenburgh bleed town board Saw Mill River Road,AE:adding 300,000 trimincluding = 10” X 5.625” increase from a year ago, and $336 million programs across a range of serious diseases feet of office and laboratory space in two allows a broad range of uses, safety = 10” X 5.625” in net income, up 28 percent from the first by the end of the year.” buildings, new buildings due to open later this year. research and development, office Regeneron employs more than 1,800 A Regeneron spokeswoman said the com- retail, restaurants, banks, recreation facili- quarter of 2014. Dr. Leonard S. Schleiffer, president and workers in Westchester and more than 3,300 pany plans to hire more than 500 additional ties, higher education facilities, hotels and T:10”CEO of Regeneron, in the quarterly report employees globally. conference centers. employees by the end of 2016. BY JOHN GOLDEN
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