BioMed Realty And Illumina Announce New Build-To-Suit Laboratory Building In Cambridge's Growing Life Science Cluster
New State-of-the-Art Building To Be Located in Scientific Research Park, Granta Park, and Will Serve As Illumina's New European Headquarters
SAN DIEGO, June 25, 2015 /PRNewswire/ -- BioMed Realty Trust, Inc. (NYSE: BMR) today announced that Illumina, Inc. (NASDAQ: ILMN), a world leader in genomics focused on improving human health by unlocking the power of the genome, has signed a 20-year lease for a 155,000 square foot new and innovative scientific research building in Cambridge, England. The project will provide Illumina a collaborative environment and access to the highly skilled workforce in the dynamic research cluster anchored by Cambridge University.
The project advances state-of-the-art design, with plans to be able to seamlessly expand by 70,000 square feet into a 225,000 square foot building. BioMed Realty acquired the land for the project from The Welding Institute under a long term ground lease, enlarging BioMed Realty's Granta Park campus in Cambridge, England.
"Illumina and BioMed Realty's commitment to building a new state-of-the art facility in Cambridge is great news for our area," said George Freeman, Parliamentary Under Secretary of State for Life Sciences at the UK Department for Business, Innovation and Skills and the Department of Health. "This is a strong endorsement of the UK's Life Science Industrial Strategy and leadership in driving forward better treatments for people with cancers and rare diseases."
"Illumina is proud of its heritage and presence in the Cambridge area, and welcomes the opportunity to continue our strong investment in the UK," said Marc Stapley, Chief Financial Officer for Illumina. "This new state-of-the-art European Headquarters will provide enhanced collaboration opportunities for our growing employee base, which is so foundational to Illumina's innovation and success."
BioMed Realty owns, manages and operates Granta Park, a scientific research center, located eight miles from Cambridge University and currently comprising 472,200 square feet of laboratory and office space. Last year, the company acquired a 42,400 square foot build-to-suit property in development for Takeda Pharmaceutical Company in the Cambridge Science Park. With today's announcement of Illumina's new building, BioMed Realty's presence in the Cambridge, England market is approaching 700,000 square feet.
"BioMed Realty is delighted to announce that Illumina has selected Granta Park as its European headquarters and to be expanding our relationship with Illumina into Europe," said Alan Gold, Chairman, President and CEO of BioMed Realty. "Cambridge shares key common characteristics with our core U.S. markets which is why we decided to enter the market and why we continue to grow there."
About BioMed Realty Trust
BioMed Realty, with its trusted expertise and valuable relationships, delivers optimal real estate solutions for biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. BioMed Realty owns or has interests in properties comprising approximately 18.3 million rentable square feet. Additional information is available at www.biomedrealty.com. Follow us on Twitter @biomedrealty.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, without limitation: risks and uncertainties affecting property development and construction, including the development of the building for Illumina in Cambridge, UK; failure to manage effectively the company's growth and expansion into new markets, or to complete or integrate acquisitions and developments successfully; and general risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases, dependence on tenants' financial condition, and competition from other developers, owners and operators of real estate). For a further list and description of such risks and uncertainties, see the reports filed by the company with the Securities and Exchange Commission, including the company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE BioMed Realty Trust, Inc.
Share this article