SAN FRANCISCO-BioMed Realty Trust has signed two newfor 15 years with Life Technologies Corp. at its Science Center at Oyster Point property in San Francisco. Life Technologies, a global biotechnology company, will fully occupy 200 and 180 Oyster Point Boulevard, comprising approximately 204,900 sq. ft. of laboratory and office space.
BioMed Realty also announced that it has reached agreement with Elan Corp., the current tenant at The Science Center at Oyster Point, on an early lease termination which will be effective simultaneously with the Life Technologies leases. Pursuant to the agreement, Elan will pay BioMed Realty an early lease termination fee of $46.5 million.
In addition, BioMed Realty announced that it acquired The Campus at Lincoln Centre in Foster City,from Life Technologies for approximately $37.0 million, excluding closing costs. BioMed Realty intends to redevelop the 19-acre site, currently encompassing seven buildings and approximately 280,000 sq. ft, which may be significantly expanded through the redevelopment process.