SEATTLE—BioMed Realty Trust, Inc. has brokeground on one of the largest life science hubs in Seattle, theBioMed Realty Research Center. This development of an additional122,000 square feet of laboratory and office space at 500Fairview in South Lake Union is an expansion of thecurrent building located at 530Fairview.
The BioMed Realty Research Center will be approximately223,000 square feet of state-of-the-art lifescience real estate, comprised of the new 122,000 squarefoot building and the current 101,000 square feet ofworld-class laboratory and office space currently at 530 Fairview,which is currently 100% leased to Novo Nordisk, NanoStringTechnologies and PresageBiosciences.
"As the first major new biomedical research and office complexbuilt in nearly five years, this project represents not only jobsin the lab, but also construction and business support services.More than 400 life sciences and global health companies and 10national labs already thrive here and employ more than 34,000Washingtonians. This BioMed Realty Research Center signals anexciting expansion for the industry, and we will continue toencourage investment and more growth as our state competes with theleading life sciences hubs in the world," said Governor JayInslee.
"BioMed Realty is excited about growing our presence in thethriving South Lake Union market in Seattle with the expansion ofour BioMed Realty Research Center into the iconic hub forinnovation for Seattle's life science community," said AlanGold, chairman and CEO of BioMed Realty. "The newstate-of-the-art life science facility will offer companies inSeattle the perfect setting to pursue their transformationalresearch and groundbreaking science."
The expanded BioMed Realty Research Center will be an institutionalgrade, class A+ lab and office building. Tenants will enjoy a full range of amenities within the Center andthroughout the vibrant South Lake Union neighborhood, includingonsite parking, fitness center and 100-person conferencecenter. Tenants will also experience great views of LakeUnion along with easy access to downtown, to public transportationand to Interstate 5.
"We understand that our tenants want the full live, work and playenvironment for their employees and the expanded BioMed RealtyResearch Center will offer the best experience for life sciencecompanies in Seattle," said Mike Ruhl, seniordirector, leasing and development of BioMed Realty, inSeattle. "We are continuing the transformation of South LakeUnion by contributing to and supporting the growth of the lifescience industry, which continues to be a key economic driver forthe Seattle economy."
Construction began this week with a kick-off event held Wednesdayat the project location in South Lake Union. BioMed's Goldand president Kent Griffin were joined by stateand local political leaders and members of Seattle's biotechcommunity to officially kick off the construction for the newBioMed Realty Research Center building at 500 Fairview Avenue,which is expected to be completed in early2016.
BioMed Realty, owns and manages properties for biotechnology andpharmaceutical companies, scientific research institutions,government agencies and other entities involved in the life scienceindustry.