BioMed Realty Trust has the capability of adding another 130,000 square feet of new development on the property located in the Town of Greenburgh and an additional 400,000 square feet of space in the Town of Mount Pleasant, Transwestern's McDevitt says. A spokesperson for BioMed Realty tells Globest.com that those development sites are in the San Diego-based REIT's land bank, but notes that there are no immediate plans to develop those parcels as yet.

Other tenants at the eight-building Landmark at Eastview include Progencics Pharmaceuticals Inc., PsychoGenics and Momentive Performance Materials USA Inc. The complex is now more than 99% leased.

The expansion deal comes after Regeneron and Sanofi announced on July 24th that the U.S. Food and Drug Administration approved its cholesterol-lowering Praluent inhibitor drug. The companies on July 28th reported that they entered into a new global collaboration to discover, develop and commercialize new antibody cancer treatments in the field of immuno-oncology. The deal calls for Sanofi to make an initial investment of up to $2.17 billion in the exclusive collaboration, including $640 million in upfront payments to Regeneron.

Regenon reportedly acquired earlier this year a nearly 100-acre undeveloped parcel that adjoins the Landmark at Eastview property after the Town of Greenburgh rezoned the property as an economic development district that would allow retail and research and development space. The Westchester County Business Journal reported that Regeneron acquired that property from an entity controlled by Argent Ventures for $73 million. Officials with Regeneron could not be reached for comment at press time.