SAN DIEGO-Biomed Realty Trust Inc. has closed on its purchase of4570 Executive Dr. in the UTC submarket for $63.5 million. Thepurchase of the 125,219-square-foot biomedical office building, asGlobeSt.com previously reported, was part of a larger 14-buildingacquisitionof more than $290 million in the San Diego area and in five statesoutside of California.
The office building, located in the University Towne Centresubmarket, is the first of five life science properties purchasedby Biomed Realty Trust Inc. in the San Diego area. The four-storybuilding, clad in marble, is 100% leased to Bristol Myers Squibb,Amylin Pharmaceuticals and UCSD.
The seller was San Diego based LMC ExecutiveInvestment Co. LLC. Cassidy Turley BRE Commercial represented boththe buyer and seller in the transaction. A Cassidy Turley sourcetells GlobeSt.com that the other deals are expected to close laterin the month or early next month.
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