{"id":1004116902,"date":"2015-04-06T06:14:47","date_gmt":"2015-04-06T14:14:47","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004116902"},"modified":"2022-12-08T01:27:45","modified_gmt":"2022-12-08T09:27:45","slug":"biomed-scores-major-leases-on-2-coasts","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/biomed-scores-major-leases-on-2-coasts\/","title":{"rendered":"BioMed Scores Major Leases on 2 Coasts"},"content":{"rendered":"<p><i>By Keith Loria, Contributing Editor<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/PRC.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004116932\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/biomed-scores-major-leases-on-2-coasts\/prc\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/PRC.jpg\" data-orig-size=\"800,533\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;10&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D200&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1153476660&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;18&quot;,&quot;iso&quot;:&quot;250&quot;,&quot;shutter_speed&quot;:&quot;0.002&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"PRC\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/PRC.jpg?w=800\" class=\"alignright size-medium wp-image-1004116932\" alt=\"PRC\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/PRC.jpg\" width=\"300\" height=\"199\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/PRC.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/PRC.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/PRC.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/i><\/p>\n<p>Stanford Health Care has signed a 104-month, 138,000 square-foot lease at BioMed Realty Trust, Inc.\u2019s Pacific Research Center in\u00a0Newark, Calif.<\/p>\n<p>\u201cOur strategy is based on building long-term relationships with our tenants, and we look forward to working hard to build a strong relationship with one of the most important health organizations in California, Stanford Health Care,\u201d Jim Cullinan, BioMed Realty Trust\u2019s vice president of marketing, told\u00a0<i>Commercial Property Executive<\/i>.<\/p>\n<p>BioMed Realty also recently signed Advanced Cell Diagnostics to an eight-year, 35,000-square-foot lease at PRC and Biogen to a 10-year, 80,000-square-foot lease of Class A laboratory and office space at the company\u2019s 301 Binney St. property in\u00a0Cambridge, Mass.<\/p>\n<p>\u201cThe lease with Biogen is very important in several ways,\u201d Cullinan said. \u201cWe are providing Class A lab and office space so that one of the most innovative and exciting life science companies can continue their important research and development. Also, we are able to report that this lease means that our 301 Binney Street property is completely full which reflects the growing demand for high quality space in Cambridge.\u201d<\/p>\n<p>According to Cullinan, BioMed believes that the demand for life science real estate will only grow as the industry continues to thrive.<\/p>\n<p>\u201cUnlike other sectors, the demand for new drugs or medical solutions will never burst because curing cancer isn\u2019t something like MySpace that became old technology within a couple years,\u201d he added. \u201cWe are seeing strong demand especially for lab space, which requires special expertise to know how to build and service. We feel good about out business.\u201d<\/p>\n<p>A 2015 report by Deloitte revealed aging populations, chronic\/lifestyle diseases, emerging-market expansion, and treatment and technology advances are expected to spur life sciences sector growth this year.<\/p>\n<p>In the report, Homi Kapadia, Deloitte L.L.P.\u2019s Life Sciences leader &amp; vice chairman, said growth in the life sciences sector\u2014comprised of the pharmaceutical, biotechnology, and medical technology segments\u2014is closely tied to economic and demographic drivers that fuel a continual transformation of the broader healthcare industry.<\/p>\n<p>\u201cLife sciences companies have demonstrated their ability to survive and thrive amidst recent periods of economic recession, healthcare spending cutbacks, geographic market swings, and changing population profiles,\u201d he concluded. \u201cIf history is any indication, 2015 will again test the sector\u2019s ability to adapt in an era of transformation.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BioMed Realty Trust proves that life science real estate will only grow as the industry continues to thrive. <\/p>\n","protected":false},"author":451,"featured_media":1004116932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,11,21742,10,21747,15],"tags":[],"class_list":["post-1004116902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-midatlantic","category-latest","category-northeast","category-office","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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