SAN DIEGO--(BUSINESS WIRE)--BioMed Realty, a Blackstone portfolio company, announced today it has executed a long-term lease with a Fortune 50 company for the entire 204,000 sq. ft. ground-up development project known as APEX. APEX is located in University Towne Center (“UTC”), a premier technology and life science hub with proximity to the University of California San Diego and easy access to major freeways and a variety of retail and entertainment amenities.
“We are very excited to introduce another modern, world class property to UTC, a top tier location for companies seeking innovative workspaces to attract talent,” said Kevin Tremblay, Senior Director of BioMed Realty. “As a result of this project, BioMed’s San Diego portfolio will encompass 3.0 million square feet.”
The four-story building will target LEED certification and offer state-of-the-art amenities, including a fitness center, conference rooms, an indoor/outdoor café and terrace space with expansive views. Construction has commenced and the building is scheduled for delivery in 2021.
BioMed Realty recently completed another project in the UTC area and opened the Center for Novel Therapeutics (“CNT”) on the campus of the University of California San Diego. CNT is a 138,000 sq. ft., LEED Gold certified building designed to encourage collaboration between researchers and the private sector to bring life-changing cancer therapies to market more quickly.
“Leading innovation companies gravitate towards urbanizing markets like San Diego to gain access to the pool of highly educated and skilled workers,” said Tim Schoen, President and CEO of BioMed Realty. “Our investments in California are creating centers of excellence in both San Diego and the Bay Area and helping companies grow their workforce and expand the life science and tech industry in the state.”
Since 2016, BioMed Realty has invested or committed to invest approximately $2.6 billion in California to develop new buildings and modernize existing properties. With the APEX transaction, BioMed Realty now leases over 6.5 million square feet of space to 135 companies throughout 47 properties in the State of California.
To learn more about BioMed Realty visit biomedrealty.com.
About BioMed Realty
Founded in 2004, and a Blackstone portfolio company since 2016, BioMed Realty owns and operates high-quality life science real estate comprising 11 million square feet located in the leading innovation markets throughout the United States and United Kingdom, led by Boston-Cambridge, San Francisco, San Diego, Seattle, New York and Cambridge, U.K. In addition, BioMed Realty maintains a premier development pipeline with over two million square feet of Class A properties in active construction to meet the growing demand of the life science industry. With over 200 tenant partners, BioMed Realty provides real estate solutions for global enterprises, established biotechnology and innovation companies, leading universities and premier research institutions. Follow us on Twitter @biomedrealty.