Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SEATTLE-Alexandria Real Estate Equities Inc. is preparing to add a 10-story laboratory building to its 210,000-sf First Hill research and development campus.

The Pasadena, CA-based REIT isn’t saying anything public at this time, but it has been issued a Master Use Permit to replace an existing 55,000-sf building at 1102 Columbia St. with one that has 130,000-sf of lab space over five levels of underground parking. The approval was issued last month and expires at the end of next year.

Alexandria controls about 480,000-sf of office and laboratory space in Seattle that was 99.8% leased at the end of June. Not included in that total is a new building under construction at 1616 Eastlake that will house Accelerator Corp., a biotech incubator project of Alexandria, three venture capital firms and the Seattle-based Institute for Systems Biology.

In addition to its 210,000-sf First Hill campus, the company owns the 158,000-sf ZymoGenetics campus at 1201 Eastlake Ave. E., the 71,000-sf former Bristol-Myers Squibb building on First Avenue that now houses Dendreon Corp., and a 48,000-sf building on Western Avenue that is leased to the University of Washington.

The company acquired its First Hill campus–the former Fred Hutchison Cancer Research Center–in 1996. Current tenants include Swedish Health Services, Corixa Corp. and Primal Inc. The new $25-million lab building would replace Elkind Hall, the oldest building on the campus. The MUP approvals follow a rezone of the proposed building site that occurred in March.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.