The property comprises 686,172 sf and is predominantly lab/office space occupied by biotechnology tenants. The space is fully leased, according to Scott Rombach, spokesperson for GMAC. The complex was first developed in the late 1980s with additional renovations to the original complex and construction of new buildings done in phases throughout the 1990s--including infrastructure additions suitable for its primary use as a biotechnology center.
Currently, the buildings are integrated around courtyards, outdoor plazas and restaurants to create an urban campus setting. The complex also includes retail and restaurant tenants and a movie theater as well as a 1,530-car garage.
GMAC vice president Jere Lucey of the New York retail production office arranged the transaction through Commercial Capital Initiatives, a GMAC company.
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