SAN DIEGO-BioMed Realty Trust has acquired three laboratory and office buildings totaling 300,000 square feet for $51.5 million from Collins Development Co., according to Jones Lang LaSalle, which represented the seller. The three properties―Sorrento Plaza, Sorrento West and BC Sorrento―are research & development space with lab and office build-outs in the Sorrento Valley submarket.

The sale included the 163,872-square-foot Sorrento West for $29.3 million, a nine-building campus on 10.4 acres and the 35,940-square-foot BC Sorrento for $12.4 million, one of Sorrento Valley’s premier properties and one of the only projects constructed in the past 11 years. The third part of the sale was the 30,184-square-foot Sorrento Plaza for $9.8 million, fully leased and rebuilt in 2003. Leading the Jones Lang LaSalle team on the transaction were EVP Chad Urie, managing directors Bob Prendergast and Lynn LaChapelle, and associate Grant Schoneman.

BioMed is a REIT that specializes in laboratory and office space. Collins Development Co. continues to own and operate 14 buildings in the Sorrento Valley area of San Diego and is actively involved in the Life Science market.