SAN DIEGO -- BioMed Realty Trust, Inc. (NYSE: BMR - News) announced that it has signed a definitive purchase and sale agreement with CLSB I, LLC and CLSB II, LLC, affiliates of Lyme Properties, to acquire the Center for Life Science Boston, located at 3 Blackfan Circle in the heart of Boston's Longwood Medical Area.
The 702,940 square foot life science research building is currently under construction and scheduled for delivery in 2008.
The project is 80% pre-leased, on a long-term, triple net basis, to four world-renown life science institutions -- Beth Israel Deaconess Medical Center, Children's Hospital Boston, Dana-Farber Cancer Institute and the CBR Institute for Biomedical Research. The remaining space available for lease includes approximately 98,000 square feet located on the top four floors -- 15 through 18. The building also will contain space on the first floor for retail shops and 300 below-grade parking spaces.
The property is located in the heart of Boston's Longwood Medical Area, surrounded by many of the nation's leading life science research institutions, including Beth Israel Deaconess Medical Center, Children's Hospital's Karp Family Research Laboratories, The New Research Building at Harvard Medical School and Merck Research Laboratories Boston. Also nearby are the Brigham & Women's Hospital, Dana-Farber Cancer Institute, Joslin Diabetes Center and Children's Hospital Boston, attracting the world's top researchers and clinicians.