Y-mAbs Therapeutics Signs Lease Agreement for New Corporate Headquarters in Princeton, New Jersey
Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB), a leading pharmaceutical company, recently announced its new corporate headquarters in Princeton, New Jersey. The lease agreement, signed on September 11, 2024, secures approximately 10,817 square feet of space at 202 Carnegie Center.
The company is set to move to the new premises in the first half of 2025 after the completion of the space's fitout. The initial lease term spans 10 years and nine months, with two options for extensions of five years each. During the fitout process, Y-mAbs will occupy around 5,040 square feet of office space within the same location.
Throughout the initial term, the base rent payment is projected to be approximately $3.9 million. The lease agreement includes provisions for the company to cover its share of operating expenses, taxes, and certain property-related fees. Additionally, the lessor retains the right to terminate the lease in the event of specific default conditions.
In conclusion, this strategic move by Y-mAbs Therapeutics signifies its commitment to growth and expansion. By securing a new, modern headquarters, the company is positioning itself for future success and innovation in the pharmaceutical industry.
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