BioMed Realty Announces 80,500 Square Foot Lease Expansion For Regeneron Pharmaceuticals
SAN DIEGO, Oct. 26, 2012 /PRNewswire/ — BioMed Realty Trust, Inc. (NYSE: BMR) today announced that Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) has leased an additional 80,500 square feet of space at The Landmark at Eastview campus in Tarrytown, New York comprised of approximately 46,000 square feet of space in the 777 Building and approximately 34,500 square feet of space in the 765 Building.
Named as the world’s top biopharmaceutical employer in a recent Science magazine survey, as well as one of the 20 best places to work in the U.S. science industry by The Scientist magazine, Regeneron will use the new research and development laboratories for its research into treatments for ophthalmology, cancer, inflammation, hypercholesterolemia, and other conditions. Regeneron markets three products in the United States: EYLEA(®) (aflibercept) Injection, ZALTRAP(®) (ziv-aflibercept) Injection for Intravenous Infusion, and ARCALYST(®) (rilonacept) Injection for Subcutaneous Use. ZALTRAP is co-commercialized with Sanofi.
According to Alan D. Gold, Chairman and Chief Executive Officer of BioMed Realty, “Our singular focus is to create optimal environments that support transformational research and groundbreaking science. Our eight-year relationship with Regeneron, one of the truly inspiring stories in the life science industry, exemplifies this commitment. We salute our friends at Regeneron on their successful launch of EYLEA, the recent launch of ZALTRAP, and the groundbreaking research being performed every day at The Landmark. With their latest expansion, we look forward to supporting their success for many years to come.”
The Landmark at Eastview is one of the largest privately-owned, multi-tenant science parks in New York State. The campus consists of eight buildings and over 1.1 million rentable square feet of research and development facilities and high-tech office space.
About BioMed Realty Trust
BioMed Realty delivers optimal real estate solutions for biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. BioMed Realty owns or has interests in properties comprising approximately 13.1 million rentable square feet. The company’s properties are located predominantly in the major U.S. life science markets of Boston, San Francisco, San Diego, Maryland, New York/New Jersey, Pennsylvania and Seattle, 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 the company’target markets; risks associated with the availability and terms of financing, the use of debt to fund acquisitions, developments and other investments, and the ability to refinance indebtedness as it comes due; failure to maintain the company’s investment grade credit ratings with the ratings agencies; failure to manage effectively the company’s growth and expansion into new markets, or to complete or integrate acquisitions and developments successfully; reductions in asset valuations and related impairment charges; risks and uncertainties affecting property development and construction; risks associated with downturns in foreign, domestic and local economies, changes in interest rates and foreign currency exchange rates, and volatility in the securities markets; ownership of properties outside of the United States that subject the company to different and potentially greater risks than those associated with the company’s domestic operations; risks associated with the company’s investments in loans, including borrower defaults and potential principal losses; 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 the company 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 otherwise.
SOURCE BioMed Realty