Nektar Therapeutics Trades AL R&D Facility

The building, constructed in 2000, is part of Huntsville’s Cummings Research Park and contains more than 50,000 square feet of office, laboratory, production and research space.
490 Discovery Drive N.W. in Huntsville, Ala.
490 Discovery Drive N.W. in Huntsville, Ala.

Nektar Therapeutics has sold a 51,105-square-foot facility in Huntsville, Ala., to LSINC Corp. Binswanger brokered the deal on behalf of the seller. According to Madison County records, the property fetched a price tag of $2.7 million. IberiaBank provided a $4.1 million construction mortgage at the time of the sale.

Located at 490 Discovery Drive N.W. in Huntsville’s Cummings Research Park, the single-story building is slightly more than a mile from Interstate 565, providing direct access to the city’s downtown area. Built in 2000, the structure, contains 15,300 square feet of office space alongside approximately 36,000 square feet of research, development, laboratory and small-batch production areas. Nektar Therapeutics previously operated an office out of the asset.

The new owner plans to move its headquarters to the property. The building was vacant at the time of the transaction, according to Yardi Matrix data. Office assets totaling more than 4.8 million square feet are within a mile of the building.

David Barber of Binswanger’s Atlanta office represented the seller in the transaction. In February, another Binswanger team closed the sale of a nearly 1 million-square-foot R&D and office property in Connecticut.

Image courtesy of Yardi Matrix