BioMed Realty completes the acquisition of two parcels of land, comprising approximately 28 adjacent acres in San Diego, California and concurrently enters into a long-term ground lease for both sites with Shire Regenerative Medicine, a subsidiary of Shire plc., which develops, manufactures and commercializes living cell-based therapies. Shire intends to construct office, laboratory, warehouse and manufacturing facilities totaling in excess of 150,000 square feet on the site commencing in early 2013. The site can accommodate future expansion of up to a total of 800,000 square feet.
BioMed Realty acquires Granta Park, comprising eleven laboratory and office buildings and a total of approximately 472,200 square feet of space, as well as approximately 138,400 square feet of development and expansion rights, in Cambridge, United Kingdom. Granta Park is fully leased at acquisition to a diversified roster of eleven tenants, including global pharmaceutical and biotechnology organizations, with an average remaining lease term of more than eight years. With this new investment, BioMed Realty expands current tenant relationships with MedImmune (and parent company AstraZeneca) and Pfizer, and establishes new relationships with Gilead Sciences, Pharmaceutical Product Development, UCB, and Vernalis.