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Kos Pharmaceuticals Signs for 50,000 SF

WESTON, FL-In the five-year, multimillion-dollar deal, the company plans to relocate from its 21,000-sf location on Northwest 77th Ave. in Miami Lakes, FL to a 400,000-sf, 97%occupied, class A office park here.

By Melissa Bogdany | Updated on November 26, 2002

WESTON, FL-Another large South Florida lease has come down the pike. In this case, Kos Pharmaceuticals Inc. has leased 50,000 sf of office space in the Beacon Pointe development here.

Brokers would not release the value of the five-year lease. The average asking rental rate in Weston, according to Codina’s third-quarter office market report, is $25.02, which would place the lease value at approximately $6.26 million. However, a representative of Codina–which brokered the deal–says Kos Pharmaceuticals did not pay that amount. Even at $20 per sf, the lease would be valued at about $5 million.

Kos Pharmaceuticals plans to relocate from its 21,000-sf location on Northwest 77th Ave. in Miami Lakes, FL. The company will use its new location for offices, research, development and clinical trials, among other uses.

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