BioMed Realty Purchases 154K-SF Seattle Office Property
The firm has acquired a fully-leased, lab-capable building in the city’s South Lake Union neighborhood.
SEATTLE, WA – BioMed Realty has acquired a 154,000-square-foot, lab-capable building in Seattle, WA.
Located in the city’s South Lake Union neighborhood, the asset, 1101 Westlake, is currently fully leased to Meta.
“This acquisition marks an important milestone for BioMed’s growing Seattle portfolio, while simultaneously highlighting the continued return to office of the technology industry,” states Jon Bergschneider, president of West Coast markets at BioMed Realty. “The acquisition of this prominent, 100% leased property will enable us to support the city’s innovation ecosystem and talent-rich community now and into the future.”
The transaction represents BioMed Realty’s second acquisition in Seattle this quarter.
The firm now owns 1.4 million square feet of existing office and lab space in the city, including its flagship Dexter Yard project. The company’s development pipeline consists of 1.2 million square feet, which includes the recent acquisitions of Denny Park South and the T6 Innovation Center at 200 Taylor Ave. N.
“Seattle remains one of the nation’s foremost hubs for life science and technology, driven by a highly educated workforce, growing population and leading research institutions,” says Tim Schoen, CEO of BioMed Realty. “BioMed is proud to provide life science companies and technology leaders with high-quality infrastructure where they can continue to collaborate and innovate in a thriving ecosystem.”
Within Seattle, the firm leases space to life science and technology companies, such as Seattle Children’s Hospital, Novo Nordisk Research Center Seattle Inc., Omeros Corp., InBios International Inc., Lyell Immunopharma Inc., Shape Therapeutics Inc. and salesforce.com Inc.