SAN DIEGO, May 1 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc. (NYSE: BMR) announced today that it has entered into a new 15-year lease with Regeneron Pharmaceuticals, Inc. encompassing approximately 80,000 square feet at the Landmark at Eastview campus in Tarrytown, New York, which was previously leased to Emisphere Technologies, Inc.
Commenting on Regeneron's lease expansion, Alan D. Gold, BioMed's Chairman and Chief Executive Officer, said, "BioMed has supported Regeneron's tremendous growth and success as a biopharmaceutical company through the redevelopment and new construction of world-class office and laboratory space to accommodate their scientific research, clinical development, and preclinical manufacturing activities. We are very pleased that our long-standing partnership with Regeneron continues to expand to meet their dynamic needs as a premier life science company."
According to Murray Goldberg, Chief Financial Officer of Regeneron, "The lease expansion reinforces the very successful partnership that Regeneron and BioMed have forged. BioMed's broad capabilities, creativity and flexibility, combined with their commitment to providing world-class research laboratories, have allowed us to secure the facilities needed to support our growth and achieve our goal to continue to develop and commercialize medicines for the treatment of serious medical conditions."
In conjunction with the Regeneron expansion, BioMed terminated its previous lease with Emisphere Technologies, Inc. which was previously scheduled to expire in 2012. BioMed also released Regeneron from a previous lease obligation elsewhere on the campus, resulting in a net expansion of approximately 41,000 square feet for Regeneron.
About BioMed Realty Trust
BioMed Realty Trust, Inc. is a real estate
|SOURCE BioMed Realty Trust, Inc.|
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