100 Campus Drive in Florham Park — Courtesy: The Garibaldi Group
By Joshua Burd
A biopharmaceutical company is leasing more than 9,000 square feet as part of a move to a Florham Park office campus, in a newly announced transaction by The Garibaldi Group.
The tenant, Phathom Pharmaceuticals Inc., is relocating to the sprawling Park Avenue at Morris County complex off Route 24 and Columbia Turnpike. The publicly traded, late clinical stage biopharma company, which is focused on developing and commercializing novel treatments for gastrointestinal diseases, is taking 9,420 square feet at 100 Campus Drive.
Jeff Garibaldi and Jackie Madden of The Garibaldi Group partnered with T.D. Rolf of Re:Align Tenant Strategies in representing the lessee. Jeffrey Heller and William McCaffrey of Avison Young represented ownership.
“New Jersey is surging right now with young innovative companies like Phathom Pharmaceuticals,” said Garibaldi, The Garibaldi Group’s president. “These companies often have experienced C-suite leadership or board members and they have one goal in mind: growth, rapid growth.”
In a news release, Garibaldi noted that Phathom Pharmaceuticals last year tapped former Celgene Corp. executive Terrie Curran as its CEO and subsequently filed for a $181 million initial public offering. Its new home sits within a six-building, 1.16 million-square-foot office park.
“The focus was on accessibility to NYC, Class A amenities and a building that evokes energy,” Madden said about the site location process. “When the right property can help a company recruit, they are willing to pay top dollar for it.”