SAN DIEGO, March 20, 2013 /PRNewswire/ -- BioMed Realty Trust, Inc. (NYSE: BMR) announced today the signing of two new leases for 15 years with Life Technologies Corporation (NASDAQ: LIFE) at its Science Center at Oyster Point property in the heart of the South San Francisco, California life science submarket. Life Technologies, a global biotechnology company, will fully occupy 200 and 180 Oyster Point Boulevard, comprising approximately 204,900 square feet of laboratory and office space.
Concurrently, the company also announced that it has reached agreement with Elan Corporation, the current tenant at The Science Center at Oyster Point, on an early lease termination at The Science Center at Oyster Point 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.
Commenting on the new relationship with Life Technologies, BioMed Realty's Chairman and Chief Executive Officer, Alan D. Gold , remarked, "We are delighted to have the opportunity to serve the real estate needs of Life Technologies, a pioneer and worldwide leader in biotechnology, in the Bay Area. Their Polymerase Chain Reaction (PCR) technology was foundational to mapping the human genome and their recent introduction of the Ion Torrent semiconductor sequencing technology promises to revolutionize genetic sequencing for scientists involved in every stage of discovery research. They were recently ranked in the top ten on the list of the World's 50 Most Innovative Companies by Fast Company magazine, and we look forward to supporting their growth and innovation for years to come."
In addition, BioMed Realty an
|SOURCE BioMed Realty Trust, Inc.|
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