Illumina costs $1.5 billion to build the most advanced life sciences park

Illumina costs $1.5 billion to build the most advanced life sciences park

Release date: 2015-01-08

Recently, BioMed Real Estate Trust announced that Illumina, the world's sequencing giant, has signed an agreement to lease a 360,000-square-foot site in Foster City to create a state-of-the-art life sciences park with a lease term of 15 years. This land lease agreement is the largest leasing transaction in the life sciences sector in the past decade. Some media revealed that the construction of the park will cost 1.5 billion US dollars.
The new campus will include a laboratory building area and an office building area totaling 360,000 square feet and a first phase project covering an area of ​​200,000 square feet, which is expected to be delivered in 2017. Among the many facilities, there is also a large outdoor theater with an inner circle as a release space for creative meetings, taking into account other entertainment functions. The entire campus is designed with innovation in mind, using new materials and cutting-edge technology to emphasize the sustainable use of energy to support Illumina's evolving business needs while allowing its employees to live and work in a healthy environment.
In addition to utilizing the 360,000 square feet of the lease, Illumina has the opportunity to acquire an additional 160,000 square feet to expand the park, with a total of at least 520,000 square feet.
“Employee collaboration and innovation is the foundation of Illumina's success. The larger new campus will provide us with an opportunity to bring together employees at different locations to optimize resources,” said Marc Stapley, chief financial officer of Illumina. "We also look forward to the new campus to help us build closer ties with our customers and partners. At the same time, we will create the world's most advanced work environment and attract the most talented employees to work in our company." Recently, BioMed Real Estate Trust Announced that Illumina, the world's sequencing giant, has signed an agreement to lease 360,000 square feet of space in Foster City to create a state-of-the-art life sciences park with a lease term of 15 years. This land lease agreement is the largest leasing transaction in the life sciences sector in the past decade. Some media revealed that the construction of the park will cost 1.5 billion US dollars.
The new campus will include a laboratory building area and an office building area totaling 360,000 square feet and a first phase project covering an area of ​​200,000 square feet, which is expected to be delivered in 2017. Among the many facilities, there is also a large outdoor theater with an inner circle as a release space for creative meetings, taking into account other entertainment functions. The entire campus is designed with innovation in mind, using new materials and cutting-edge technology to emphasize the sustainable use of energy to support Illumina's evolving business needs while allowing its employees to live and work in a healthy environment.
In addition to utilizing the 360,000 square feet of the lease, Illumina has the opportunity to acquire an additional 160,000 square feet to expand the park, with a total of at least 520,000 square feet.
“Employee collaboration and innovation is the foundation of Illumina's success. The larger new campus will provide us with an opportunity to bring together employees at different locations to optimize resources,” said Marc Stapley, chief financial officer of Illumina. "We also look forward to the new campus to help us build closer ties with our customers and partners. At the same time, we will create the world's most advanced work environment and attract the most talented employees to work in our company."

Source: Sequencing China

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