BioMed Realty acquires development site in Seattle

BioMed Realty acquires development site in Seattle
BioMed Realty's new parcel highlighted with the Space Needle and Seattle Center to the west, Bill and Melinda Gates Foundation to the north and the heart of South Lake Union to the east. (Photo: Business Wire)

BioMed Realty, a leading provider of real estate solutions for the life science and technology industries, has acquired two adjacent parcels from Clise Properties totalling 1.8 acres in Seattle’s South Lake Union neighborhood.

The site at 6th Avenue North and John Street can support a large-scale Class A lab and office building for life science and technology companies.

The site is within close proximity to key demand drivers, including UW School of Medicine, the Bill and Melinda Gates Foundation, and the Fred Hutch Cancer Research Center, along with large technology companies such as Amazon, Google, Facebook and Apple.

“BioMed Realty is proud of our longstanding partnership with the City of Seattle and local community groups to create successful developments such as Dexter Yard, a 500,000 square foot life science and technology office project currently under construction,” said Mike Ruhl, Vice President of BioMed Realty. “We are excited about the opportunity to continue to support Seattle’s status as a core life science market that appeals to a variety of large local, regional and national life science and technology-based employers seeking to tap into Seattle’s rich talent pool.”

The Clise family has a long history in Seattle, and has been involved in the Seattle commercial real estate market since 1889. Among the family’s many contributions to the community is the founding of Seattle Children’s Hospital in 1907.

“We are very excited to see South Lake Union’s continued growth as a respected global center of excellence in science and technology,” said A.M. Clise, Chairman and CEO of Clise Properties. “We have every confidence that BioMed Realty will provide a positive redevelopment that will leverage local resources.”

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