The company has shelled out $19 million for the land, which is located near the southwest corner of Camino Santa Fe and Mira Mesa Boulevard in the Fenton Technology Park. In addition, it plans to purchase an adjacent 8.4-acre site later this year. The acquisitions, which have been in the works since last year, will allow Biosite to expand its company headquarters as the entire site can accommodate up to 800,000 sf.
Lynn LaChapelle Burnham Real Estate Services acted on behalf of Biosite in the recent transaction. Burnham broker Mike Philbin, along with Mike Sparks of CB Richard Ellis, represented the seller, H.G. Fenton Co.
"We are pleased to complete this transaction and look forward to beginning construction of the new headquarters later this year," says Kim Blickenstaff, president and CEO of Biosite. "We expect the new headquarters will provide space to meet our needs for the foreseeable future and will allow us to centralize our operations, which should enhance efficiency."
The Fenton Technology Park is a master-planned business park that H.G. Fenton Co. is currently developing on a 130.9-acre parcel in the Miramar area of San Diego. The development will ultimately offer nearly 1 million sf of industrial, office and technology space, according to an H.G. Fenton Co. spokesperson. "All of our product is planned to offer flexibility, so that a wide variety of users – including the biotech sector – have options that will meet their specialized requirements," adds Mike Neal, H.G. Fenton Co.'s president and CEO.
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