SEATTLE—BioMed Realty Trust says is under contract to acquire the 307 Westlake Avenue North building in the heart of the burgeoning South Lake Union life science market of Seattle for approximately $90 million.
The firm says the investment continues it's Seattle market efforts, which include a 121,000 square foot expansion of its BioMed Realty Research Center, a few blocks from the acquisition property. The company will soon own nearly 500,000 square feet of laboratory and office space in the core innovation districts of downtown Seattle.
The five-story building is 99% leased to four tenants, including approximately 84,800 square feet which serves as the headquarters and research facility for Seattle Biomedical Research Institution (Seattle BioMed). The property also serves as the home to Juno Therapeutics, a clinical-stage company developing immunotherapies for cancer treatment which completed its IPO in December 2014.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
