SEATTLE, Dec. 17, 2010 /PRNewswire/ -- Fred Hutchinson Cancer Research Center has acquired a new 177,000-square-foot building adjacent to its campus on South Lake Union that will house offices and shared resources in support of the Center's research, board chair Doug Walker announced today. The acquisition may also allow for a modest increase in space for laboratory research, he said.
The building, located at 1100 Eastlake Ave. E., was acquired for $36 million.
"This offers an outstanding opportunity to expand our solid tumor, infectious disease and immunotherapy research as well as work toward the goal of consolidating all of the Center's research activities onto one campus," Walker said.
The building was acquired from the Blume 1100 Partnership, a group of investors led by local developer Bruce Blume, CEO of The Blume Company.
"This is a very positive outcome in a challenging real estate market for a top-tier building," Blume said. "The Hutchinson Center is getting a premier life sciences building at a tremendous value, which is good news for the Center and will help advance its cancer-fighting mission."
The Hutchinson Center plans to occupy the building in June 2012.
The new building will expand the Center's South Lake Union campus footprint to 15.2 acres.
At Fred Hutchinson Cancer Research Center, our interdisciplinary teams of world-renowned scientists and humanitarians work together to prevent, diagnose and treat cancer, HIV/AIDS and other diseases. Our researchers, including three Nobel laureates, bring a relentless pursuit and passion for health, knowledge and hope to their work and to the world. www.fhcrc.org
SOURCE Fred Hutchinson Cancer Research Center