Tergus Pharma acquires new headquarters facility for expansion
JLL represents company on acquisition of 100,000-square-foot Durham building
Durham, N.C., June 13, 2019 – Tergus Pharma, an end-to-end service provider for topical pharmaceutical research, drug development, testing and manufacturing, has acquired a 100,000-square-foot building at 4018 Stirrup Creek Drive for its new headquarters and plans to add approximately 200 employees over the next five years as its expands into commercial manufacturing.
The company plans to invest approximately $35 million in the new facility, which will include its offices, research and development, and manufacturing space. With 70 employees currently, Tergus Pharma plans to move into the new building during the first half of 2020.
The majority of the new hires will support the company’s commercial manufacturing business. The expansion is in response to client demand and builds upon Tergus Pharma’s existing clinical supplies manufacturing capabilities.
“This headquarters facility marks an important milestone for our company as we add a new service offering and deepen our relationship with our customers,” said Vijendra Nalamothu, Ph.D., CEO of Tergus Pharma. “We are thrilled to have found a new home that will allow us to grow in Durham, and we are excited about the opportunities ahead for Tergus Pharma.”
The leading global provider of dermatology Contract Research Organization (CRO) services, Tergus Pharma works with many clients around the world. With deep expertise in formulation development, knowledge of the regulatory landscape and unique capabilities such as Proof of Concept (PoC) studies, Tergus acts as an extension of its customers, allowing them to deliver their products to market faster.
Tergus Pharma currently occupies approximately 20,000 square feet on Meridian Parkway. Located on a 17-acre site with ample parking, the new headquarters building at 4018 Stirrup Creek Drive was completed in 2017 and is located just two miles from Interstate 40 and 10 minutes from Raleigh-Durham International Airport. The building is also convenient to multiple nearby shopping centers with a variety of retail and restaurant options for employees.
In JLL’s 2018 Life Sciences Outlook, which listed the top life sciences geographies in the country, the Raleigh-Durham area ranked fourth, behind only Boston, San Francisco and San Diego. The market has added nearly 3,000 life science jobs over the last ten years for a 16% growth rate, outpacing North Carolina (10.7%) and the nation (8.8%).
Molly Glasgow and Ryan Lawrence with JLL represented Tergus Pharma on the acquisition. Deb Boucher, Doug Cook and Kathryn Lawn with Cushman & Wakefield represented the seller of the property.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Tergus Pharma
Tergus, an end-to-end service provider for topical pharmaceutical research, drug development, testing and manufacturing company, has been an industry leader for several years with a state-of-the-art facility in Durham, North Carolina. The company has a long and stellar reputation for delivering quality results to clients from formulation through clinical supplies manufacturing, which is why people say, “Think Topicals, Think Tergus.” A systematic and scientific approach is used to thoroughly understand product components, processing, and finished product attributes to ensure high quality product throughout the course of development. Tergus helps its client achieve a balance between a fast-tracked program and quality science. For more information, please visit https://www.TergusPharma.com/