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East Side Medical Tower Signs First Tenant

NEW YORK CITY-ImClone Systems, currently headquartered at 180 Varick St., will relocate into 91,000 square feet at the forthcoming East River Science Park.

By Paul Bubny | Updated on July 23, 2009

NEW YORK CITY-The long-stymied emergence of a commercial bioscience sector here got a boost Wednesday as ImClone Systems signed a 15-year lease to become the first tenant at the forthcoming East River Science Park. With 91,000 square feet, plus another 9,000 square feet of core services space, ImClone will anchor the ERSP’s first building, CB Richard Ellis’ John S. Isaacs tells GlobeSt.com.

A wholly owned-subsidiary of Eli Lilly, which acquired it last year for $6.5 billion, ImClone has been based in New York City for a quarter century. What brought it to the ERSP, Isaacs says, was the opportunity to be part of a hub of bioscience research. The 3.7-acre site, being developed by Alexandria Real Estate Equities, is located between Bellevue Hospital and New York University Medical Center, and near a cluster of other major medical and academic research centers.

Of course, the current leasing environment helped matters. “This is a great time to be a tenant,” says Isaacs, who with fellow CBRE EVP Timothy Dempsey of the company’s consulting division represented ImClone in negotiations.

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