FOSTER CITY, CA—BioMed Realty Trust Inc. revealed that Illumina Inc. has signed a 15-year lease for a new 360,000-square-foot, state-of-the-art, build-to-suit campus in Foster City, CA. This agreement represents one of the largest life science lease transactions in the country over the past 10 years, says BioMed.
Illumina will lease 100% of the initial 360,000 square feet. In addition, Illumina has an option to expand the campus with the development of a third building providing at least an additional 160,000 square feet, which would bring the campus to a total of at least 520,000 square feet.
A BioMed source tells GlobeSt.com that the total investment for the initial 360,000-square-foot build-to-suit life science campus will be approximately $149 million.
Illumina's expansion at the Foster City campus further validates the San Francisco Peninsula as the core innovation district of the San Francisco Bay area, just north of Stanford University. “Employee collaboration and innovation are foundational to Illumina's success. In addition to our new Mission Bay location, this campus will provide us with an opportunity to bring together employees from several different sites as we continue to optimize and grow our presence in the Bay Area,” says Marc Stapley, CFO for Illumina. “We also expect this campus will provide stronger ties with our customers and partners, while establishing a state-of-the-art work environment to retain and attract the most talented employees in our industry.”
BioMed Realty's campus development is expected to be a world-class facility for Illumina and a model design for life science companies to focus on their research and science. The new campus in Foster City will include:
- Two Class A, laboratory and office buildings totaling 360,000 square feet which are expected to be delivered in 2017;
- Properties which are targeted to receive LEED® Gold Certification, employing modern, creative design techniques, sustainable materials, and cutting-edge technology solutions to provide the highest-levels of sustainability and energy efficiency;
- Flexible, adaptive building designs that will enable the buildings to support the dynamic, evolving business needs of Illumina;
- A multitude of amenities including a large central quad with an outdoor amphitheater, playing fields, inviting and creative meeting spaces and other recreational features to allow Illumina employees to live, work and play in an environment that fosters healthy, engaged employee participation; and
- Excellent access to the primary transportation arteries in the Bay Area, Highway 101 and Interstate 280 on the Peninsula and Interstate 880 in the East Bay.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
