Pharmaceutical Company Announces Campus Expansion in Wilmington
November 27th, 2015
Story by: Alex Girda, posted on Commercial Property Executive
With the pharmaceutical and biotechnology markets growing, AAIPharma Services Corp/Cambridge Major Laboratories is expanding its Wilmington, N.C. facility. In order to accommodate increased activity, the company is adding office space and development service capacity.
Estimated at around $15.8 million, the site expansion will add an extra 40,000 square feet of development services, as well as a new administration building. The new site, where completion is expected for next year, will house the company’s new global headquarters. Roughly 5,000 square feet of lab and lab support space will be added to the facility by the end of 2016’s first quarter, with additional laboratory space to be added during 2017.
AAIPharma/CML has tapped local real estate development firm GHK Cape Fear Development to handle the process. An estimated 50 jobs will be added over the following years at the project. The company has secured local support, with $500,000 in incentives being provided by local city and county governments over the next five years.
View the original story on the Commercial Property Executive website.