- Mayor Jerry Sanders Commemorated the Construction Milestone With Illumina, BioMed and Local Biotech Executives -SAN DIEGO, May 18, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- BioMed Realty Trust, Inc.
(NYSE: BMR) today announced that it broke ground on the expansion at its Towne
Centre Drive campus in San Diego, California. Illumina will lease 100% of the
new 84,000 square foot facility to accommodate their continued growth and
expansion in San Diego.
BioMed Realty Trust was joined yesterday by San Diego Mayor Jerry Sanders,
BIOCOM President and CEO Joe Panetta, and the employees of Illumina for a
groundbreaking ceremony at the campus. The new facility will add to BioMed's
existing 110,000 square foot laboratory and office space lease with Illumina,
bringing the total size of Illumina's presence to 194,000 square feet in the
University Towne Centre submarket of San Diego. BioMed expects to complete
construction in the third quarter of 2008.
Commenting on the event, San Diego Mayor Jerry Sanders said, "Today's
construction milestone is exciting for Illumina, BioMed Realty Trust and the
people of San Diego. The commitment that Illumina has made here is a
testament to the health and vitality of the life science industry in our
community and will provide employment opportunities for many skilled workers
in this area for years to come."
"To have such an exciting and dynamic company like Illumina choose BioMed
as their real estate provider is truly an honor. Illumina is a first class
organization from the very top down. Our ability to accommodate Illumina's
expansion on this site further reinforces BioMed's mission of being the
leading provider of real estate to the life science industry," said Alan D.
Gold, President and Chief Executive Officer of BioMed Realty Trust.
Designed by the architectural firm of Ferguson Pape Baldwin of San Diego,
the facility is being constructed by Reno Contracting, Inc. of San Diego.
About BioMed Realty Trust
BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused
on Providing Real Estate to the Life Science Industry(TM). The company's
tenants primarily include biotechnology and pharmaceutical companies,
scientific research institutions, government agencies and other entities
involved in the life science industry. BioMed Realty Trust owns or has
interests in 68 properties, representing 103 buildings with approximately
8.6 million rentable square feet, as well as approximately 1.6 million square
feet of development in progress. These properties are located predominantly
in the major U.S. life science markets of Boston, San Diego, San Francisco,
Seattle, Maryland, Pennsylvania and New York/New Jersey, which have
well-established reputations as centers for scientific research. Additional
information is available at www.biomedrealty.com.
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995 based on current
expectations, forecasts and assumptions that involve risks and uncertainties
that could cause actual outcomes and results to differ materially. These
risks and uncertainties include, without limitation: general risks affecting
the real estate industry (including, without limitation, the inability to
enter into or renew leases, dependence on tenants' financial condition, and
competition from other developers, owners and operators of real estate);
adverse economic or real estate developments in the life science industry or
BioMed Realty Trust's target markets; risks associated with the availability
and terms of financing and the use of debt to fund acquisitions and
developments; failure to manage effectively the company's growth and expansion
into new markets, or to complete or integrate acquisitions and developments
successfully; risks and uncertainties affecting property development and
construction; risks associated with downturns in the national and local
economies, increases in interest rates, and volatility in the securities
markets; potential liability for uninsured losses and environmental
contamination; risks associated with the company's potential failure to
qualify as a REIT under the Internal Revenue Code of 1986, as amended, and
possible adverse changes in tax and environmental laws; and risks associated
with the company's dependence on key personnel whose continued service is not
guaranteed. For a further list and description of such risks and
uncertainties, see the reports filed by BioMed Realty Trust with the
Securities and Exchange Commission, including the company's most recent annual
report on Form 10-K and quarterly reports on Form 10-Q. The company disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
SOURCE BioMed Realty Trust, Inc.
Kent Griffin, Chief Financial Officer of BioMed Realty Trust, Inc., +1-858-485-9840