Home Commercial BioMed Realty Sells Life Science Building in Bothell for $18.15MM

BioMed Realty Sells Life Science Building in Bothell for $18.15MM

BioMed Realty, Life Science, Canyon Park, Jump Holdings LLC, Juno Therapeutics, Bothell
Life Science building in Canyon Park | Photo courtesy of BioMed Realty

By Brittan Jenkins

Nevada-based Jump Holdings LLC is the new owner of a life science building located in the Canyon Park life science cluster in Bothell after purchasing the property from San Diego-based BioMed Realty in December 2016. Jump Holdings LLC paid $18,150,000 for the building or about $268 per square foot, according to public documents. BioMed Realty originally purchased the building in November 2006 for $10.5 million, which it later renovated in 2008.

The building, located at 1522 217th Pl SE at the intersection of I-405 and SR-527, is a Class A, two-story, 67,799-square-foot building that includes both office and laboratory space. In addition to the building, an adjacent development lot can also accommodate the construction of a build-to-suit of 100,000-square-feet.

Rick Howe, senior director, corporate communications said, “The sale is part of BioMed Realty’s focus on acquiring, developing and delivering world-class real estate solutions for the life science industry in core life science innovation and growth centers.”

Juno Therapeutics, a clinical-stage company developing immunotherapies for cancer, is the current tenant of the building and has a lease until March 2025. Juno Therapeutics joined a number of other life science companies in the Canyon Park cluster. The site is also within close proximity of other biotechnology and pharmaceutical agencies, and research institutions.

In addition to the majority of the Eastside’s inventory of lab space being in Canyon Park, a Kidder Mathews Seattle Life Science 2015 third quarter report lists well known companies such as Seattle Genetics, Cepheid, Halosource, Acucela, CMC Biologics and Alder Biopharmaceuticals as tenants of Canyon Park as of 2015.