Sands Investment Group is Pleased to Offer For Sale a Single Tenant NNN Flex Building Leased to Almac Clinical Services, LLC in Durham, North Carolina.
MISSION-CRITICAL OPERATION CENTER W/SIGNIFICANT INVESTMENT
- The Property Functions as Almac’s Sole Clinical Services Facility in the U.S. With Approximately 300 Employees. Almac Has Two Other Operating Divisions Including a Brand New Diagnostic Lab Located Next Door to the Property in Independence Park
- Almac Has Been at This Location Since 2008 and Has Recently Renewed the Lease at this Location For an Additional 15 Years. Almac Has Also Renewed Both Leases at the Two Other Adjacent Buildings – Representing the Tenant’s Long-Term Commitment to the Facilities and to This Office Park in the Durham Market
- This Facility is Critical to Almac’s Operations and Contains Specialty Equipment and Infrastructure That Would Be Cost-Prohibitive to Move to a New Location. Almac Has Invested Significant Capital Towards the Facility, With an Additional $500,000 Planned Now That the Lease Extension is in Place
LONG-TENANCY HISTORY WITH NEW 15-YEAR LEASE EXTENSION
- Since Locating to Durham in the 1990s, Almac Continues to Grow Steadily in the Area. Almac’s Clinical Service Unit Has Occupied the Property Since 2008
- In 2016, Almac Opened a Companion Diagnostic Development Lab Adjacent to the Property. The Facility Will Provide a U.S. Base to Meet the Global Company’s Increased Client Demand and Will Significantly Enhance Almac’s Offering. Almac Invested More Than $6 Million Towards the Expansion of Their State-of-the-Art Lab and Created 102 New Jobs In 2016
- New 15 Year Lease Extension, Setting Rents to Market. Landlord Has Paid the TI Expenses Upfront
BEST-IN-CLASS COPORATE GUARANTEE
- The Lease Provides a Guarantee From Almac Group Limited (“Almac”) – The Parent Company of Almac Clinical Services, LLC. The Almac Group is an Established Contract Development and Manufacturing Organization That Provides an Extensive Range of Integrated Services to the Pharmaceutical and Biotech Sectors Globally (600+ Companies)
- Almac is the Only Company in the Market With Supply Chain Planning, Execution and IRT Services Under One Roof
- For Fiscal Year End 2016, Almac Reported a 14% Increase in Year-Over-Year Revenue at Nearly $599 Million. Almac Continued Its Global Expansion Strategy and Continues to Reinvest All Profits Into the Business
CRITICAL HIGHWAY ACCESSIBILITY
- Property Provides Direct Access to Downtown Durham Via Rte 501 and I-85
STRATEGIC CITY OF MEDICINE LOCATION
- The Property is Strategically Positioned in Durham – “The City Of Medicine”. Healthcare Has Become the City’s Largest Employment—Boasting More Than 300 Medical and Health-Related Companies and Pharmaceutical Research Organizations, With a Combined Payroll Exceeding $1.2 Billion and 46% of the Biotech Firms In North Carolina
- Durham is Home to Approximately 95% of the 170+ Companies Located in Research Triangle Park (~12 Miles) – the Leading and Largest High Technology Research and Science Park in North America
- Duke Regional Hospital (396 Beds; Over 1,600 Employees) is ~1.7-Miles Away, and Duke University Hospital (957 Beds; Over 9,000 Employees), Durham VA Medical Center (274 Beds; Over 2,885 Employees), and Duke University (~14,832 Students) are Approximately 5-Miles From the Property
In Cooperation with Sands Investment Group North Carolina, LLC – Lic. # 29362
Broker of Record: Chris Sands – Lic. # 300021
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