BioMed Realty And Illumina To Create New 360,000 Square Foot World-Class Life Science Campus In Foster City, CA
Development of New State-of-the-Art Campus Marks One of the Largest Life Science Lease Transactions Ever in the U.S. as Illumina Continues Its Rapid Growth
SAN DIEGO, Jan. 5, 2015 /PRNewswire/ -- BioMed Realty Trust, Inc. BMR, +0.34% today announced that Illumina, Inc. ILMN, -1.03% a world leader in genomics, has signed a 15-year lease for a new 360,000 square foot, state-of-the-art, build-to-suit campus in Foster City, CA. This agreement represents one of the largest life science lease transactions in the country over the past ten years.
BioMed Realty's campus development is expected to be a world-class facility for Illumina and a model design for life science companies to focus on their research and science. The new campus in Foster City will include:
- Two Class A laboratory and office buildings totaling 360,000 square feet which are expected to be delivered in 2017;
- Properties which are targeted to receive LEED® Gold Certification, employing modern, creative design techniques, sustainable materials, and cutting-edge technology solutions to provide the highest-levels of sustainability and energy efficiency;
- Flexible, adaptive building designs that will enable the buildings to support the dynamic, evolving business needs of Illumina;
- A multitude of amenities including a large central quad with an outdoor amphitheater, playing fields, inviting and creative meeting spaces and other recreational features to allow Illumina employees to live, work and play in an environment that fosters healthy, engaged employee participation; and
- Excellent access to the primary transportation arteries in the Bay Area, Highway 101 and Interstate 280 on the Peninsula and Interstate 880 in the East Bay.
Illumina will lease 100 percent of the initial 360,000 square feet. In addition, Illumina has an option to expand the campus with the development of a third building providing at least an additional 160,000 square feet, which would bring the campus to a total of at least 520,000 square feet.
Illumina's expansion at the Foster City campus further validates the San Francisco Peninsula as the core innovation district of the San Francisco Bay area, just north of Stanford University.
"Employee collaboration and innovation are foundational to Illumina's success. In addition to our new Mission Bay location, this campus will provide us with an opportunity to bring together employees from several different sites as we continue to optimize and grow our presence in the Bay Area," said Marc Stapley, Chief Financial Officer for Illumina. "We also expect this campus will provide stronger ties with our customers and partners, while establishing a state-of-the-art work environment to retain and attract the most talented employees in our industry."
"BioMed Realty is proud that Illumina selected us as their development partner to create their new campus in the San Francisco Bay area," said Alan Gold, Chairman and CEO of BioMed Realty. "Their decision to expand their Bay Area operations into Foster City locates them in the vibrant Peninsula cluster so they can develop new science and technologies at the crossroads of innovative, academic and transformational research. We will partner with Illumina to create a life science campus for Illumina and its employees that is the ideal workplace environment for their continued innovation, success and dynamic growth."
Additional details regarding the transaction are available on BioMed Realty's web site (www.biomedrealty.com) under Investor Relations – Presentations.
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 17.5 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 campus for Illumina in Foster City, California; 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.
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SOURCE BioMed Realty Trust, Inc.