Axios Research, a pharmaceutical company specializing in the research and production of drug impurities, drug metabolites, and benchmarks for pharmaceuticals, had experienced significant growth, surpassing the capacity of their laboratory facility. Consequently, there was a need for additional space to accommodate their expanding operations.
The LabOccupier team retained a space planning firm with experience in Labratory requirements to do a Needs Analysis who determined Axios Research required a minimum of 3,000 square feet of laboratory and office support space with room for future expansion. A comprehensive market search for potential options uncovered a 6,385 square foot industrial condominium that suited the company’s immediate needs, the balance of which could be subleased to another lab user until future growth was necessary.
In addition to accommodating their immediate needs, the strategic decision was made to lease the balance of the unit to another company in need of lab and office space. This approach addressed the immediate needs of Axios, set them up for future expansion and helped defray the cost of the building purchase until they eventually occupy the whole building.
