BioMed Realty Forms New Relationship With Stanford Health Care With New 138,000 Square Foot Lease At Pacific Research Center
Company's Leasing Momentum in Bay Area Continues as Newark Campus Now Approximately 80% Leased with Addition of Premier Bay Area Health Care Institution
SAN DIEGO, April 2, 2015 /PRNewswire/ -- BioMed Realty Trust, Inc. (NYSE: BMR) today announced that Stanford Health Care has leased 138,000 square feet at the company's Pacific Research Center (PRC) in Newark, California. This new 104-month lease adds Stanford Health Care to BioMed Realty's strong roster of premier research institutions and university partners such as Yale University, Salk Institute, Wake Forest University, the Broad Institute, University of Pennsylvania, University of California – San Diego, University of Miami and Washington University in St. Louis.
Stanford Health Care is a premier academic health care institution on the leading edge of innovating new ways to deliver high quality health care. Stanford Health Care will be taking over all of Building 9 on the PRC campus.
In addition to the 138,000 square foot lease to Stanford Health Care, last month, BioMed Realty signed Advanced Cell Diagnostics to an eight year, 35,000 square foot lease at PRC.
"We are excited to begin these new relationships with Stanford Health Care and Advanced Cell Diagnostics, which give us more than 170,000 square feet of new leasing so far this year at our Pacific Research Center campus," said Scott Altick, Bay Area Market Lead for BioMed Realty. "These transactions add to our strong start in the Bay Area this year, which includes the 360,000 square foot build to suit for Illumina in Foster City."
As part of the Stanford Health Care transaction, BioMed Realty terminated 105,000 square feet of space from Logitech, Inc. in Building 9. Logitech continues to lease 158,000 square feet in Building 8.
BioMed Realty has transformed PRC into a state-of-the-art life science and innovation campus with 1.4 million square feet of leasable space, which is now approximately 80 percent leased. The campus has ten existing buildings with the ability to build three additional buildings. Tenants have access to a full amenities building with cafeteria, modern fitness center, coffee bar and meeting rooms and conference capabilities.
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 18.0 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: adverse economic or real estate developments in the life science industry or the company's target markets, including with respect to San Francisco, California; 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.
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