Scheer Partners Touts Role in 74,209 SF Novavax HQ Lease
Posted December 8, 2011
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As citybiz real estate previously reported, Novavax Inc., a clinical-stage biopharmaceutical company, has entered into Lease Agreements with Alexandria Real Estate Equities, Inc. under which Novavax will lease manufacturing, office and laboratory space at 20 and 22 Firstfield Road in Gaithersburg, MD.
Robert Scheer, the founder and president of Scheer Partners, represented Rockville-based Novavax in this transaction. Company Senior Vice President Henry Bernstein and Vice President Matt Brady also participated in this project, while Associate Jamie Rash provided financial modeling and analytical support.
SEE: Details Emerge on Novavax HQ Lease in Gaithersburg (11/27/11)
Novavax will occupy the entire 53,000-square-foot lab and manufacturing facility at 20 Firstfield Road. This building will become the publicly traded company's primary commercial-scale plant for the production of vaccines following minor modifications that are expected to wrap up by mid-2012.
Additionally, Novavax will lease 21,209 square feet at 22 Firstfield Road. This space will serve as its new corporate headquarters. Both Firstfield Road buildings are owned by Pasadena, Calif.-based Alexandria Real Estate Equities.
SEE: Novavax to Lease 74,000 SF in Gaithersburg (11/21/11)
Currently, Novavax leases roughly 50,000-square-feet at 9920 Belward Campus Drive in Rockville, which Scheer Partners also secured for the company. Novavax is assessing its long-term needs for this Rockville facility, which currently houses its pilot-scale manufacturing plant.
Earlier this year, Novavax received a contract worth up to $179 million from the Office of Biomedical Advanced Research and Development Authority, part of the U.S. Department of Health and Human Services, for the advanced clinical and manufacturing development of recombinant vaccines to prevent seasonal and pandemic influenza.
The company's new space on Firstfield Road will help support and fulfill this federal-government contract, Scheer says.
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