CFO Best Practices

NexMed, Inc. a specialty CRO and a developer of products based on the NexACT(R) technology, announced that it has signed an agreement to lease its facility in East Windsor, NJ, commencing February 1, 2010. The lease agreement also contains an option to purchase the facility during the term of the lease.

Commenting on the news, NexMed's Chief Financial Officer, Mark Westgate, said, "In light of our announcement earlier this week regarding the closing of the Bio-Quant acquisition, the timing is ideal, as we move our headquarters from New Jersey to San Diego. Additionally, the monthly rental payment will more than cover the existing debt service on our mortgage, thus making this a cash positive transaction. Further, the initial purchase option price which we have negotiated, of $4.4 million, is approximately $1.4 million above the existing debt on our building."

Managing commercial real estate is an important asset for any corporation. Real estate decisions impact the bottom line and a company's ability to re-deploy this capital to align with core company strategies. CFOs should consult with experts who are experienced and independent of landlords and commercial real estate brokers. For more information on the complete range of options you have to monetize your commercial real estate leases and buildings please visit www.commercialleaseterminations.com