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Packaging Facility Checks “All the Boxes” for ComboCap
Avison Young New Jersey has arranged a new 50,000-square-foot lease for ComboCap Inc. at 125 Algonquin Parkway in Whippany, NJ. The new space at the 71,000-square-foot pharma packaging facility will provide manufacturing capacity for ComboCap, which serves the nutraceutical, pharma and biopharma industries.
An Avison Young team of SVPs Matthew C. Turse (pictured) and Timothy J. Cadigan, and associate John Recchia represented both ComboCap and the sub-landlord, Aphena Pharma Solutions, in the negotiations. The transaction consists of a sublease agreement for the tenant, and the remainder of the term negotiated as a direct lease with the landlord, Kushner Companies.
Previously, ComboCap outsourced its manufacturing to other parties.The new facility confirms the ability to keep that aspect of the business in house.
“The 125 Algonquin site checked all the boxes for ComboCap Inc., having previously been a pharma packaging facility, with enough room to accommodate for future expansion,” said Turse.
For comments, questions or concerns, please contact Paul Bubny
- ◦Lease
