Biotech Firm Officially Vacates 318,000-SF Property

ROCKVILLE, MD-The deal is done. Human Genome Sciences Inc. has officially made its exit from the 318,000-sf multi-structure facility at the 300-acre Shady Grove Life Science Center. The agreement to vacate the property is part of Human Genome’s consolidation plan, which involves the relocation of most of its employees to a new location at 14200 Shady Grove Dr.

“[The agreement] will free up $76 million of cash by eliminating the cash restriction associated with the financing of 9800 Medical Center Dr.,” says Human Genome executive vice president and CFO Steven C. Mayer. “This transaction reduces the total amount of cash restricted on our balance sheet, which is related to various facility financings, from $294 million to $218 million.”