Bethesda, MD-based Sucampo Pharmaceuticals, Inc., a biopharmaceutical company developing new drugs to treat gastrointestinal and ophthalmic disorders, has exercised an expansion option under its new headquarters lease and will now occupy 27,502 rentable square feet at 805 King Farm Boulevard in Rockville, MD.
On May 5, 2015, Sucampo Pharmaceuticals signed a lease with landlord Four Irvington Centre Associates, LLC for 24,244 square feet of space at 805 King Farm Boulevard and agreed to pay $739,000 in annual rent. That lease agreement, which was not otherwise impacted by this amendment, commences on December 1, 2015 and has an initial term of 11 years and 7 months. The company also has a five-year extension option and was granted the ability to expand its leased premises to include additional space at the new location by written election no later than January 1, 2020.
In addition to expanding its leased premises, Sucampo Pharmaceuticals’ lease amendment increases its annual rent to approximately $839,000, excluding its pro rata share of certain real property taxes, operating expenses, common area maintenance expenses and allowances for tenant improvements.
Built in 2007, 805 King Farm Blvd in Rockville is a 224,258 square foot office building in Irvington Centre, the 90-acre office space component of the 430-acre King Farm, a mixed use development containing 3,200 homes, 3.2 million square feet of office space and more than 125,000 square feet of retailspace, according to LoopNet.
In July, bethesdamagazine.com reported that Sucampo plans to hire 155 full-time workers at its new headquarters after bringing in more $115 million in revenue in 2014.