Monday, July 25, 2011

Celsion Corp. Moving HQ from Columbia, MD to New Jersey

"Celsion Corp. has signed a lease with Brandywine Realty Trust to relocate its corporate headquarters currently located in Columbia, MD into 10,870 square feet at 997 Lenox Dr in Lawrenceville, NJ., a town located between New York City, Philadelphia, Princeton and Trenton.

The Company plans to begin operations in its new headquarters at 997 Lenox Drive by the end of the third quarter.

Celsion Corp. will not pay base rent for the first six months of the lease. Following the first six months, the Company will pay monthly base rent of $23,099, which escalates to $24,910 per month by the end of the lease. The aggregate rent payments of the Lease total just over $1.44 million.

The 66-month lease is contingent upon receiving a Business Employment Incentive Program (BEIP) grant from the New Jersey Economic Development Authority. BEIP grants are available to expanding or relocating businesses that create jobs in New Jersey."

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