Leasing and Acquisitions

For West Coast leasing opportunities, please contact Chris Elmendorf, Director, Acquisitions & Leasing, in our San Diego office at (858) 485-9840 or by email at chris.elmendorf@biomedrealty.com.

For East Coast leasing opportunities, please contact Stephen Marshall, Director, Acquisitions & Leasing, in our Pennsylvania office at (610) 647-9590 or by email at stephen.marshall@biomedrealty.com.

For property acquisitions, please contact Matthew McDevitt, Executive Vice President, Acquisitions and Leasing,  in our Pennsylvania office at (610) 647-9590 or by email at mmcdevitt@biomedrealty.com.

Property Characteristics

Life science entities have unique and strategic location and facility needs with respect to laboratory and office space. Specifically, many of these entities desire properties that are strategically located near leading academic and research institutions and that have unique design and construction elements necessary to accommodate their mission-critical research, product development, clinical testing and manufacturing activities.

To accommodate the additional building infrastructure and tenant owned furniture, fixtures and equipment, properties are designed with enhanced structural floor rigidity and load bearing capacities ranging between 100 and 150 pounds per square foot and unobstructed floor-to-ceiling clear heights of 12.5 to 16 feet. In contrast, many of the existing multi-story office buildings in the market today have elevated floors with structural load bearing capacities ranging between 60 and 80 pounds per square foot and floor-to-ceiling clear heights of only 10.5 to 12 feet. Also, properties must have enhanced electrical, plumbing and HVAC systems.

Our Target Markets

We have focused our investment efforts on several key markets: Boston, San Diego, San Francisco, Seattle, Maryland, Pennsylvania, New York/New Jersey and research parks near or adjacent to universities. These target markets have emerged as primary hubs for research and development and production in the life science industry. These markets generally have reputations for scientific excellence and are often associated with a concentration of academic centers. Each market’s reputation for scientific excellence is enhanced by having some mature health care companies in the region which provide scale and stability to the market, in addition to a regular supply of new startups, which are drawn to the market by the ability to leverage off of the existing industry infrastructure. Furthermore, these markets generally provide a high quality of life for the skilled workforce.

Boston

The Boston life science market is driven by its proximity to several prominent universities and research institutions, including Harvard University, Massachusetts Institute of Technology, the Whitehead Institute for Biomedical Research, Brigham and Women’s Hospital, and Massachusetts General Hospital. The New England area, including Connecticut, Maine, Massachusetts, New Hampshire and Rhode Island, is listed in the Ernst & Young Biotechnology Report issued in 2007 (E&Y Report) as having 60 publicly traded biotechnology companies. This list includes Genzyme Corporation, Biogen Idec Inc. and Millennium Pharmaceuticals, Inc., each of which is located in the Boston area.

San Diego

Over the course of the last several decades, San Diego has emerged as one of the primary centers for life science research and development, driven in large part by the concentration of academic centers, including the University of California, San Diego, the Scripps Research Institute and the Salk Institute for Biological Studies. A significant portion of the biotechnology research effort is concentrated in a relatively high-density area of La Jolla, a suburb of San Diego, and its surrounding area. San Diego is listed in the E&Y Report as having 38 publicly traded biotechnology companies, including Elan Corporation, plc, Ligand Pharmaceuticals Incorporated, Quidel Corporation and Invitrogen Corporation.

San Francisco

The San Francisco Bay area is listed in the E&Y Report as having 69 publicly traded biotechnology companies, including Genentech, Inc., Alza Corporation, Chiron Corporation, Gilead Sciences, Inc. and Nektar Therapeutics. Other regional drivers include Stanford University, the University of California, Berkeley and the University of California, San Francisco. A significant portion of the biotechnology research effort is concentrated near Genentech’s corporate headquarters in South San Francisco.

Seattle

The Seattle life science market is driven primarily by the Fred Hutchinson Cancer Research Center and the University of Washington. The Pacific Northwest region, including Oregon and Washington, is listed in the E&Y Report as having 15 publicly traded biotechnology companies. These companies include Amgen Inc. (Helix campus), ICOS Corporation, ZymoGenetics, Inc. and Cell Therapeutics, Inc., each of which is located in the Seattle area.

Maryland

The Maryland life science market is driven by its proximity to government health agencies, including the Food and Drug Administration, the National Institutes of Health, the Department of Homeland Security and the National Cancer Institute, and several universities and institutes, such as Johns Hopkins University, the University of Maryland and the Howard Hughes Medical Institute. The Mid-Atlantic market, including Maryland, Virginia and Washington, D.C., is listed in the E&Y Report as having 23 publicly traded biotechnology companies, including Medimmune, Inc., Human Genome Sciences, Inc. and Celera Genomics group, a business segment of Applera Corporation.

Pennsylvania

The Pennsylvania life science market is driven by several research institutions and biotechnology companies, including the University of Pennsylvania, Pennsylvania State University, the University Science Center, The Wistar Institute and Hershey Medical Center. The Pennsylvania/Delaware Valley market is listed in the E&Y Report as having twelve publicly traded biotechnology companies, including Cephalon, Inc., Centocor, Inc. and Neose Technologies, Inc.

New York/New Jersey

The New York/New Jersey life science market is driven by several research institutions, large pharmaceutical companies and biotechnology companies, including Princeton University, Columbia University, New York University, Rutgers University, Sloan Kettering Institute for Cancer Research, Johnson & Johnson, Merck & Co., Inc., Wyeth and Pfizer Inc. This region is listed in the E&Y Report as having 45 publicly traded biotechnology companies, including Celgene Corporation, Immunomedics, Inc., Lifecell Corporation, Regeneron Pharmaceuticals, Inc., OSI Pharmaceuticals, Inc., Emisphere Technologies, Inc. and Progenics Pharmaceuticals, Inc.

The BioMed Green Building Initiative

We are taking a leading role in the construction and ownership of environmentally responsible, “green” life science buildings, which we believe will provide significant and lasting environmental, health and economic benefits to the tenants we serve and the communities in which we are located.  We own one of the largest such buildings in the country and are constructing others that we believe will warrant national recognition for environmentally sustainable design.

The U.S. Green Building Council’s Leadership in Energy and Environmental Design Green Building Rating System™ (LEED®) is the nationally accepted benchmark for the design, construction and operation of environmentally friendly, “green” buildings.  To qualify for LEED certification, a building must meet exacting standards of human and environmental health, including sustainable site development, water savings, energy efficiency, environmentally sensitive materials selection, indoor environmental quality and design innovation.  Qualified projects are granted Silver, Gold or Platinum certification depending on how high they rank in each category.

Our 500 Kendall Street building in Cambridge, Massachusetts is the 13-story headquarters for Genzyme Corporation.  The property was completed in 2003 and qualified for and received LEED Platinum certification, the highest LEED rating possible.  The building was also a recipient of both the AIA 2004 Excellence in Sustainable Design Award and the AIA COTE 2004 Top Ten Green Projects Award.

We are also in the process of constructing several other facilities that are expected to qualify for LEED certification.  The Center for Life Science Boston is a landmark-designed, state-of-the-art life science facility to be completed in 2008.  Embracing the principles of environmental sustainability from the project’s inception, we anticipate that the Center for Life Science Boston will be the largest project in our portfolio to qualify for LEED certification.

Other BioMed Realty Trust properties designed for environmental sustainability include the six-story, 280,000 square foot life science property to be constructed at 650 East Kendall Street, the 84,000 square feet of life science space to be constructed for Illumina in San Diego and the 94,000 square foot Fairview Research Center in Seattle, further distinguishing BioMed Realty Trust as the leader in providing environmentally sustainable real estate to the life science industry™.