In the San Francisco Bay Area, Slough has acquired the 726,000-sf Shoreline Technology Center and the 623,000-foot Seaport Center from Equity Office Properties. Tenants include life-science companies Boston Scientific, Perlegen Sciences, Abbott Laboratories, Radiant Medical and LuMend and technology company Actel.
The land at Bressi Ranch, Carlsbad, will accommodate approximately 700,000 sf of office and R&D space. Slough will begin construction on the sites shortly and plans to market to biotech companies for build-to-suit requirements.
"The acquisition of the Shoreline and Seaport centers strengthens our portfolio in California in the short term," reflects Ian Coull, chief executive of Slough. "There are significant opportunities for us to add value to both." He went on characterize the Bressi Ranch buy as "a significant addition to our development pipeline in the San Diego County market."
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
