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WEB EXCLUSIVE
KOS PHARMACEUTICALS LEASES 90,000 SQUARE FEET OF HEADQUARTERS AND LAB SPACE IN CRANBURY, NJ

Kos Pharmaceuticals, Inc., a fully integrated specialty pharmaceutical company, has leased 90,000 square feet of headquarters and laboratory space at 1 Cedar Brook Drive in Cranbury, NJ. Cushman & Wakefield's George Keller, based in Manhattan, and Peter Hamburger, of the firm's East Rutherford, NJ office, represented Kos in negotiating the long-term transaction.

Kos, which is currently headquartered in Miami,FL will take occupancy at the property in a phased move-in that represents an operational expansion. The firm will retain its existing facilities in Weston and Hollywood, FL; Raleigh, NC; and Edison, NJ. Some of Kosâ employees currently located in Miami will be moving to Cranbury, but the majority will relocate to corporate office space located in Weston, Florida.

Kos Pharmaceuticals is engaged in developing, commercializing, manufacturing and marketing proprietary prescription products for the treatment of chronic diseases. The Companyâs principal product development strategy is to reformulate existing pharmaceutical products with large market potential to improve safety, efficacy, or patient compliance. The Company currently markets Niaspan‰ and Advicor‰ for the treatment of cholesterol disorders, and Azmacort‰ for the treatment of asthma. Kos is developing additional products, has proprietary drug delivery technologies in solid-dose and aerosol metered-dose inhalation administration and is pursuing several strategic business development and licensing opportunities.

"Kos is currently the fastest growing specialty pharmaceutical company in the U.S., and we are making these moves for a variety of strategic business reasons," comments Adrian Adams, Kos president and chief executive officer. "As we continue to make measured investments in all areas of our buoyant business, and in particular, in Research and Development, we believe that Cranbury is not only a convenient location with respect to our Edison facility, but it also is in the epicenter of the resource-rich environment of pharmaceutical talent, which will undoubtedly help us in our recruiting efforts. This facility also secures additional space to facilitate our current and future growth plans. While we expect an approximately 50-50 split in personnel between Florida and New Jersey, excluding the sales force, the Weston and Cranbury offices will provide further efficiencies along department lines," says Adams.

Cedar Brook Corporate Center owns the free-standing, two-story building at 1 Cedar Brook Drive. Located on a 7.5-acre site, the space is built out for a pharmaceutical laboratory, with office and administration support space. Customization work for Kos is expected to be completed by mid-year 2004.

"The Cranbury property suits Kosâ needs perfectly," says Hamburger. "It offers convenience to the firm's existing clients and partners in the region, and a stronger presence in New Jersey, which is recognized as one of the nation's leading pharmaceutical hubs."

Representation of Kos illustrates the growing activity of Cushman & Wakefield's Technology Enterprise Group, which offers a wide range of integrated real estate services to government, private life sciences and technology firms, and academic research organizations and corporations seeking to develop R&D or high-tech pilot and production facilities. Creating unique partnerships among these various players comprises a major focus of the Technology Enterprise Group's efforts.