Precision Dermatology Inc. is moving its headquarters from Cumberland, R.I., to Franklin.
Precision signed a 10-year lease Dec. 4 for 25,685 square feet of office and warehouse space at 122 Grove St., said Casey Killam of Re/Max Executive Realty, who, along with Rick Kaplan of Re/Max, represented the building owner, Al-Je Beau Realty Trust. Renovations are underway and Precision expects to complete its move by spring.
Precision is slated to use 16,970 square feet of office space for research and development, the executive team, sales and marketing, while the 8,715 square feet of warehouse space is being converted into a lab, Killam said. Gerry Suprenant of MG Commercial represented Precision.
Precision announced Feb. 3 that it’s being acquired by Valeant Pharmaceuticals Internationals of Quebec for $475 million in cash. The transaction is expected to close by the end of June.
