This summer, BioMed Realty Trust Inc.closed on its purchase of two parcels of land comprisingapproximately 28 adjacent acres in San Diego. The price wasapproximately $47 million. Concurrently, the company also enteredinto a long-term ground lease for both sites with AdvancedBioHealing Inc., a regenerative-medicine company and subsidiary ofShire plc that develops, manufactures and commercializes livingcell-based therapies.
Advanced BioHealing intends to construct office, laboratory,warehouse and manufacturing facilities totaling in excess of150,000 square feet on the site, which will also be able toaccommodate expansion to a potential total of 800,000 feet. At thetime of the deal, Kevin Rakin, Shire's president of regenerativemedicine, said that the company in its expansion strategy wants tobuild its presence in the San Diego area.
In a separate deal, over in the La Jolla area of San Diego,Hines and its joint venture partner—a consortium of institutionalinvestors advised by J.P. Morgan Asset Management—kicked offconstruction on a 13-story, 415,000-square-foot office building inthe University Towne Center submarket. When the firm first startedplanning the project, sources involved in the deal said they had a"bullish attitude" toward San Diego and would "continue to beactive in the area."
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
