FLORHAM PARK, NJ — A late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases is relocating to Park Avenue at Morris County.
Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT) has leased 9,420 square feet at 100 Campus Drive after searching for a location with access to New York City where the company could easily attract, recruit and retain talent.
“New Jersey is surging right now with young innovative companies like Phathom Pharmaceuticals,” The Garibaldi Group’s president Jeff Garibaldi said. “These companies often have experienced C-suite leadership or board members and they have one goal in mind: growth, rapid growth.”
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 the owner.
“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.”
Park Avenue consists of six Class A office buildings comprising a 1.16 million-square-foot office park in Morris County.
In 2019, Phathom Pharmaceuticals, Inc. appointed former President of Global Inflammation and Immunology (I&I) Franchise at Celgene Corporation, Terrie Curran, as Chief Executive Officer and subsequently filed for a $181 million IPO.