Owned by Alexandria Real Estate Equities, the new headquarters is partof a four-building, 265,000-square-foot campus whose tenants includethe National Institutes of Health, Amplimmune, Canon US LifeSciences and Sanaria. The company plans to spend $10 million for abuild out.
Like most other industries, biotech activity slowed during therecession, but new activity is slowly beginning to translate into hardreal estate deals. Also, government spending is having an impact as well, Henry Bernstein, a principal with Scheer Partners, toldGlobeSt.com in an earlier interview. "I would say there is about half a million square feet worth of deals in the market that will land in 2010 and 2011," he says, including twogovernment mandates from the NIH and NCI.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
