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FOSTER CITY, CA-Gilead Sciences has completed its $123-million acquisition of 500,000 sf in 16 buildings at Vintage Park in Foster City from a subsidiary of Equity Office Properties Trust. GlobeSt.com reported the pending acquisition in mid-August.

Gilead discovers, develops and commercializes therapeutics to advance the care of patients suffering from life-threatening diseases. The publicly traded biopharmaceutical company has used the business park as its corporate headquarters since 1998. Prior to the acquisition it leased 10 of the buildings it acquired, though it only occupied eight of them.

Located on Lakeside Drive, Vintage Park is a 21-building, 660,000-sf business park. A source at Gilead tells GlobeSt.com the buildings that the company is currently occupying are built out as office and laboratory space. Of the six buildings Gilead is acquiring, but hadn’t previously leased, four are leased in part by other businesses. The source says the company has no plans to seek more sublease tenants and expects to occupy the excess space over the next three to five years as leases expire.

Gilead says it expects the transaction will be accretive to earnings this year. In afternoon trading, the company’s share price stood at $66.41, off $0.77 on the day and $4.00 off its 52-week high. On Friday, the company said it has sold licensing rights for a smallpox drug to San Diego-based Chimerix Inc. The license permits Chimerix to sell the drug to governments anywhere in the world. As part of the agreement, Chimerix will pay Gilead royalties based on a percentage of net sales to governments.

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