Vanda Pharmaceuticals Expands

Washington, D.C.-based Vanda Pharmaceuticals Inc (NASDAQ:VNDA), has launched a couple of drugs and even recently put into place a television ad campaign. The company is now in need of extra space and will expand into an additional 8,600 square feet at its D.C. headquarters located at 2200 Pennsylvania Avenue.

Vanda will pay the landlord, Square 54 Office Owner LLC, and additional $381,000 for a 12 year and one month term lease beginning on September 1, 2014, although Vanda will get a nine month grace period.

In addition, Vanda will get $750,000 for construction build out of the new space. The biotechnology company paid $32,000 in rent upfront when the amended lease agreement went into effect.

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