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Thursday, Mar 28, 2024
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Pharmaceutical Firm Expanding Carlsbad Presence

San Diego-based BioMed Realty Trust Inc. announced April 5 an extension of its partnership with Isis Pharmaceuticals Inc., under which Isis will increase its Carlsbad presence from 28,700 to 204,700 leased square feet.

Financial terms were not disclosed. A statement said a new agreement calls for Isis to lease 100 percent of a new 176,000-square-foot research facility to be constructed by BioMed at the Carlsbad Oaks North Business Park. Isis will lease the new building for a 20-year term and consolidate most of its operations there.

Isis also extended to Dec. 31, 2031, the lease for its approximately 28,700-square-foot, recently upgraded manufacturing facility, which it currently occupies at BioMed’s nearby Faraday Avenue property, the statement said.

BioMed is a real estate investment trust that provides real estate to the life sciences industry. It owns or has interests in 71 properties in seven U.S. markets including San Diego, Boston and San Francisco.

— Lou Hirsh

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