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6/27/12
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BioMed Realty Trust Inc purchased two San Diego-area parcels of land totaling approximately 15.7 gross acres for about $20 mil. BioMed entered into a long-term ground lease for the site, located at the intersection of Camino Santa Fe and Summers Ridge Rd in Sorrento Mesa, with Advanced BioHealing Inc (ABH), a regenerative medicine company and a subsidiary of Shire.
BioMed Realty is a real estate investment trust focused on Providing Real Estate to the Life Science Industry®. The company currently owns or has interest in properties comprising approximately 13.0 msf of space. Louay Alsadek and Evan August of CBRE, along with Doug Lozier of Studley, represented the seller in the deal.
According to Alsadek, ABH spent the last month looking for the right site before narrowing the search to two sites in Sorrento Mesa and then selecting this one as the best choice. ABH intends to construct office, laboratory, warehouse and manufacturing facilities totaling in excess of 150k sf on the site later this year.
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