Argos Therapeutics has reached an agreement to purchase its new Durham headquarters for $7.62 million, the company reported in a regulatory filing.
Argos had the option to purchase the building under the lease agreement its signed with Charlotte’s The Keith Corp. in August.
The sale is expected to close in the second half of this year.
Argos and Keith broke ground on the 97,500-square-foot facility last fall. In addition to serving as the company’s corporate offices, it will be s manufacturing facility for Argos’ cancer therapy that is still awaiting approval from federal regulators.
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The company received $7.1 million in state and local incentives to build the new headquarters and manufacturing plant at the site on T.W. Alexander Drive near Research Triangle Park. The company must meet investment and hiring milestones to receive the money.
Argos' plan is to have the new facility ready to start production as soon as the Food and Drug Administration clears Argos' product for the market, which the company expects will happen by mid-2017.
The facility is expected to employ about 325 people, including 236 new jobs that will pay an average salary of about $79,000 per year. The company's local incentives include $925,000 from Durham County and $924,676 in incentives from the city of Durham.