Alexandria Real Estate Equities Plans 130,000-SF Addition to Campus

SEATTLE-Alexandria Real Estate Equities Inc. is preparing to add a 10-story laboratory building to its 210,000-sf First Hill research and development campus.

The Pasadena, CA-based REIT isn’t saying anything public at this time, but it has been issued a Master Use Permit to replace an existing 55,000-sf building at 1102 Columbia St. with one that has 130,000-sf of lab space over five levels of underground parking. The approval was issued last month and expires at the end of next year.

Alexandria controls about 480,000-sf of office and laboratory space in Seattle that was 99.8% leased at the end of June. Not included in that total is a new building under construction at 1616 Eastlake that will house Accelerator Corp., a biotech incubator project of Alexandria, three venture capital firms and the Seattle-based Institute for Systems Biology.