Chimerix, Inc. has entered into an industrial building lease agreement with landlord Northwood RTC LLC for 7,925 square feet of laboratory space at 3501 Tri-Center Boulevard, known as Research Tri-Center North I, in Durham, NC.
Christopher J. Norvell and James P. Allaire of Cushman & Wakefield | Thalhimer represented the landlord in this lease transaction. Sue Back of Cushman & Wakefield | Thalhimer represented the Tenant.
The Lease has a term of 48 months, commencing on the later of May 12, 2014 or the date that the Landlord’s work on the Premises is completed.
The minimum rent will be approximately $9,576 per month during the first 12 months of the Lease. It will increase to approximately $9,813 per month during the second 12 months of the Lease, $10,058 per month during the third 12 months of the Lease and $10,309 per month thereafter through the expiration
Chimerix, Inc., a biopharmaceutical company dedicated to developing and commercializing novel, oral antivirals in areas of high unmet medical need, has the option to extend the lease for an additional three year term, which would commence upon the expiration of the initial 48 month term.
Research Tri-Center North I is a 158,856 square foot Class A industrial warehouse, according to LoopNet.