BioMed Realty (BMR) To Lease 131K Sq. Ft. From Regeneron Pharma (REGN)
BioMed Realty Trust, Inc. (NYSE: BMR) announced today that it has entered into a new lease with Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) for approximately 131,000 square feet of additional, newly-constructed laboratory and office space at The Landmark at Eastview campus in Tarrytown, New York. The new lease expires on June 30, 2023. This lease of additional space was completed approximately two months after BioMed and Regeneron celebrated the opening of two new buildings at the 116-acre campus, totaling approximately 230,000 square feet, which were built by BioMed to serve as Regeneron's corporate headquarters and research facility. As a result of these transactions, the approximately 361,000 square feet of newly-constructed space at Landmark delivered from BioMed's development pipeline in the third quarter of this year is now 100% leased.
Alan D. Gold, BioMed's Chairman and Chief Executive Officer, remarked, "We are extremely pleased with this latest expansion of our relationship with Regeneron. BioMed was one of the first institutional real estate organizations to recognize the potential of the life science industry in New York and Westchester County when we purchased the Landmark campus in 2004, with Regeneron as the anchor tenant. Since then, Regeneron has continued to be at the forefront of biopharmaceutical research and development, as illustrated by Regeneron's recent expansion of its existing global collaboration with sanofi-aventis (NYSE: SNY) to discover, develop and commercialize fully human therapeutic monoclonal antibodies. We are delighted to continue playing a significant role in their ongoing scientific advancements and drug discoveries."
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