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

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The sale included the 163,872-square-foot Sorrento West for$29.3 million, a nine-building campus on 10.4 acres and the35,940-square-foot BC Sorrento for $12.4 million, one of SorrentoValley’s premier properties and one of the only projectsconstructed in the past 11 years. The third part of the sale wasthe 30,184-square-foot Sorrento Plaza for $9.8 million, fullyleased and rebuilt in 2003. Leading the Jones Lang LaSalle team onthe transaction were EVP Chad Urie, managing directors BobPrendergast and Lynn LaChapelle, and associate Grant Schoneman.

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

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