BioMed Realty Trust, Inc. started construction on its life science hub in Seattle, Washington, the BioMed Realty Research Center. The additional 122,000 square feet of laboratory and office space at 500 Fairview in South Lake Union is an expansion of the current building located at 530 Fairview.
The BioMed Realty Research Center will be approximately 223,000 square feet of state-of-the-art life science real estate, comprised of the new 122,000 square foot building and the current 101,000 square feet of world-class laboratory and office space, which is currently 100 percent leased to Novo Nordisk, NanoString Technologies and Presage Biosciences.
"BioMed Realty is excited about growing our presence in the thriving South Lake Union market in Seattle with the expansion of our BioMed Realty Research Center into the iconic hub for innovation for Seattle's life science community," said Alan Gold, Chairman/CEO of BioMed Realty. "The new state-of-the-art life science facility will offer companies in Seattle the perfect setting to pursue their transformational research and groundbreaking science."
The expanded BioMed Realty Research Center will be an institutional grade, class A+ lab and office building. Tenants will enjoy a full range of amenities within the Center and throughout the vibrant South Lake Union neighborhood, including onsite parking, fitness center and 100-person conference center. Company officials added tenants will also experience great views of Lake Union along with easy access to downtown, to public transportation and to Interstate 5.
"We understand that our tenants want the full live, work and play environment for their employees and the expanded BioMed Realty Research Center will offer the best experience for life science companies in Seattle," said Mike Ruhl, Senior Director, Leasing and Development of BioMed Realty, in Seattle. "We are continuing the transformation of South Lake Union by contributing to and supporting the growth of the life science industry, which continues to be a key economic driver for the Seattle economy."
"As the first major new biomedical research and office complex built in nearly five years, this project represents not only jobs in the lab, but also construction and business support services. More than 400 life sciences and global health companies and 10 national labs already thrive here and employ more than 34,000 Washingtonians. This BioMed Realty Research Center signals an exciting expansion for the industry, and we will continue to encourage investment and more growth as our state competes with the leading life sciences hubs in the world," said Governor Jay Inslee.