NAI/Merin Hunter Codman Leases 33,488 square feet to Boca Raton’s LGM Pharma as part of their Nexgen Pharma Acquisition

Mid-pandemic, NAI/Merin Hunter Codman’s Senior Associate Jeffrey A. Cebula partnered with NAI Capital in California to complete a 7-year, 33,488-square-foot, industrial lease in the Los Angeles metropolitan area.

Boca Raton, FL & Irvine, CA – NAI/Merin Hunter Codman, a leading South Florida commercial real estate firm, represented LGM Pharma, a Boca Raton-headquartered pharmaceutical manufacturing company, in a 33,488-square-foot warehouse space lease to accommodate LGM Pharma’s acquisition and expansion of the contract manufacturing business of Nexgen Pharma. Jeffrey A. Cebula, Senior Associate of NAI/Merin Hunter Codman’s Tenant Representation Division, partnered with Executive Vice President, Michael Arnold and Executive Managing Director, Brian Childs of NAI Capital Commercial’s Tenant Consulting Group to complete the 7-year industrial lease at 2741-2745 Dow Avenue, Tustin, CA. The landlord was represented by Cushman Wakefield.

LGM Pharma is a leading provider of comprehensive active pharmaceutical ingredient (API) sourcing and drug product contract development and manufacturing (CDMO) solutions to the pharmaceutical, biotechnology, and compounding pharmacy industries. In July of 2020, mid-pandemic, LGM Pharma acquired the formulation development and drug product contract manufacturing business of Nexgen Pharma, Inc. The acquisition united LGM Pharma’s global leadership in API sourcing, distribution, and supply chain management with Nexgen Pharma’s comprehensive drug product CDMO services. The combined firm, which is known as LGM Pharma, has all the capabilities needed to help pharmaceutical and biotechnology customers accelerate and optimize the new product pathway, from early R&D and clinical development through manufacturing, regulatory submission, commercialization, and distribution.

Mr. Cebula, a 30-year tenant representation specialist, represented Hamilton Lenox, Senior Vice President of Business Development for LGM Pharma in the lease. “I first approached Jeff, who I met at various Business Development Board of Palm Beach County events, about a modest industrial space needed in California due to LGM’s acquisition and planned growth of our new Drug Manufacturing Division,” stated Mr. Lenox. “Despite California’s Covid-19 lockdown challenges, our space needs changed from an initial 2,500 square feet to over 30,000, and Jeff, being based in South Florida, was able to identify, negotiate, and finalize an industrial lease across the country, meeting LGM’s very specific location, industrial and budget requirements, all within a critical timeframe.”

Jordan Paul, CEO of NAI/Merin Hunter Codman stated, “NAI/Merin Hunter Codman’s has a worldwide reach of over 5,000 in-market commercial real estate experts. Through our NAI Global affiliation, we provide our clients in-market expertise, wherever their need, by partnering with over 300 NAI offices throughout the world. Hats off to Jeff for leveraging his tenant representation expertise and the NAI Global network to fit his local client’s cross-country need.”

View PDF of Full Press Release

Thanks to the following media organizations that shared the news:

South Florida Business Journal: View Link | View PDF

Business Development Board of Palm Beach County: View Link | View PDF

Boca Raton Chamber: View Link | View PDF

Palm Beach Chamber North: View Link | View PDF

The Orange County Register: View Link | View PDF

Author: Admin

Marketing Manager at NAI Merin Hunter Codman

Leave a Reply