{"id":1004808944,"date":"2026-08-17T05:42:43","date_gmt":"2026-08-17T13:42:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004808944"},"modified":"2026-08-17T06:01:24","modified_gmt":"2026-08-17T14:01:24","slug":"breakthrough-acquires-seattle-area-biomanufacturing-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/breakthrough-acquires-seattle-area-biomanufacturing-campus\/","title":{"rendered":"Breakthrough Acquires Seattle-Area Biomanufacturing Facility"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a832431c0a5b&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1600\" height=\"1200\" data-attachment-id=\"1004808887\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/215-shuksan-way\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/215-Shuksan-Way.jpg\" data-orig-size=\"1600,1200\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"215-Shuksan-Way\" data-image-description=\"&lt;p&gt;Image emailed to Briefs&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Pfizer originally planned to occupy 215 Shuksan Way but never moved in. Image courtesy of Breakthrough Properties&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/215-Shuksan-Way.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/215-Shuksan-Way.jpg\" alt=\"An aerial photo of the biomanufacturing campus at 215 Shuksan Way.\" class=\"wp-image-1004808887\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/215-Shuksan-Way.jpg 1600w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/215-Shuksan-Way.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/215-Shuksan-Way.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/215-Shuksan-Way.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/215-Shuksan-Way.jpg?resize=1536,1152 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Pfizer originally planned to occupy 215 Shuksan Way but never moved in. <em>Image courtesy of Breakthrough Properties<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Breakthrough Properties has paid $78 million to acquire 215 Shuksan Way, a 270,000-square-foot biomanufacturing facility in Everett, Wash. The firm has also secured a 21-year lease for the entire campus with an undisclosed biopharma company, which plans to create a U.S. manufacturing facility.<\/p>\n\n\n\n<p>The purchase was funded out of <a href=\"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-closes-430m-fund\/\">Breakthrough\u2019s second life science fund<\/a> and is the company\u2019s first acquisition in the Puget Sound region. Breakthrough is a joint venture between Tishman Speyer and Bellco Capital.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/industrial-report-ev-manufacturing-slows-demand-holds\/\">July 2026 National Industrial Report<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>215 Shuksan Way was completed in 2024. Pharmaceutical firm Seagen originally planned to occupy the facility, but the approximately $350 million project was halted soon after Pfizer completed its $43 billion acquisition of Seagen in 2023, the <a href=\"https:\/\/www.bizjournals.com\/seattle\/news\/2024\/03\/01\/pfizer-seagen-everett-manufacturing-facility.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Puget Sound Business Journal reported<\/a> in 2024. According to Yardi Matrix, the most recent owner of the property was Dermody.<\/p>\n\n\n\n<p>The building was designed for end-to-end biomanufacturing and distribution purposes and includes administrative office space. Amenities include an onsite caf\u00e9.<\/p>\n\n\n\n<p>The property\u2019s location is about 25 miles north of Seattle along the Interstate 5 corridor, with close access to Seattle-Tacoma International Airport, Paine Field, the Port of Everett and BNSF railway lines.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-biomanufacturing-a-key-growth-area\">Biomanufacturing a key growth area<\/h2>\n\n\n\n<p>In January, <a href=\"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-secures-465m-refi-for-life-science-campus\/\">Breakthrough refinanced its Torrey Heights<\/a> life science development in San Diego with a $465 million five-year, fixed-rate CMBS loan led by JPMorgan Chase, with Deutsche Bank and Goldman Sachs as co-lenders. The 10-acre, 520,000-square-foot campus is anchored by Pfizer\u2019s oncology division.<\/p>\n\n\n\n<p>Leading indicators in the U.S. life science market, such as IPOs and M&amp;A activity, have been climbing, according to a recent report from Newmark released last week, with biomanufacturing being a particular bright spot. The usual top markets\u2014Boston, the Bay Area, San Diego and Seattle\u2014are benefiting the most, landing a combined total of 4.3 million square feet in leasing during the first half of 2026.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A global biopharma firm will occupy the campus.<\/p>\n","protected":false},"author":882,"featured_media":1004808887,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21748,21783,21742,1610,15],"tags":[49894,51152],"class_list":["post-1004808944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-industrial","category-investment","category-latest","category-seattle","category-west","tag-breakthrough-properties","tag-dermody"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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