SAN DIEGO and GAITHERSBURG, Md., Oct. 27, 2011 /PRNewswire/ -- BioMed Realty Trust, Inc. (NYSE: BMR) and Meso Scale Diagnostics, LLC. today announced the signing of a new lease at BioMed's 1701 Research Boulevard property in Rockville, Maryland. MSD, which develops, manufactures and markets cutting edge instruments and biological assay kits, agreed to a 15 year lease for approximately 104,700 square feet. The property, which was previously vacant, is now 100% leased, less than six months after being acquired by BioMed.
By relocating certain of its facilities to the 1701 Research Boulevard property, MSD joins BioMed's premier tenant roster along the I-270 Corridor (commonly known as DNA Alley), which includes Human Genome Sciences, Inc., Novavax, Inc., Eisai Co., Ltd., and MedImmune, Inc., a wholly-owned subsidiary of AstraZeneca PLC.
"We are very excited about the move to 1701 Research Boulevard," said Jacob Wohlstadter, President and Chief Executive Officer of Meso Scale Diagnostics. "The location and site are exceptional, offering access to top talent and room for expansion, and will provide world class, purpose-built facilities. Our partnership with BioMed, particularly their willingness to provide a long-term deal, will accelerate our strategic goals in our life science and diagnostics businesses."
Alan D. Gold, Chairman and Chief Executive Officer of BioMed, remarked, "We are pleased that MSD has chosen 1701 Research Boulevard to conduct its development of multiplexed biological measurement systems for the life science and diagnostics industries. We look forward to building a long-lasting relationship with Jacob and his team by providing an optimal operating environment. Our ability to re-lease the property to MSD only five months after acquiring the property is further validation of BioMed's strategy of investing in high-quality, well-located properties in core life science markets."
"In today's economy, companies have many options," said Christian S. Johansson, Secretary of the Maryland Department of Business and Economic Development. "We welcome MSD's decision to remain a center of innovation, creativity and job creation right here in Maryland, in the heart of our thriving Bio sector."
Steve Silverman, Director, Department of Economic Development remarked, "The County is thrilled with MSD's decision to continue to invest and create jobs in Montgomery County. It is innovative businesses like MSD that consistently create high quality jobs and attract highly skilled employees and that we are greatly appreciative to have as part of our business community."
"MSD's decision to relocate certain of its operations to Rockville is a huge win for the City," said Sally Sternbach, Executive Director, Rockville Economic Development, Inc. "MSD is exactly the type of company we want in the City and we look forward to MSD's continued growth and success in the City of Rockville."
About Meso Scale Diagnostics
Meso Scale Diagnostics, LLC., based in Gaithersburg, Maryland, develops, manufactures, and markets instrumentation and assays for array-based biological measurements for research use in life sciences and for biodefense applications. More information about MSD and its products can be found at www.mesoscale.com.
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®. 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 owns or has interests in properties comprising approximately 12.3 million rentable square feet. The company's properties are located predominantly in the major U.S. life science markets of Boston, San Francisco, Maryland, San Diego, 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.
BioMed Realty Trust Forward Looking Statements
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's target markets; risks associated with the availability and terms of financing, the use of debt to fund acquisitions and developments, 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 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 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 Trust, Inc.