Friday, December 21, 2012

BioMed seeks 900,000sf expansion in Radnor

by Natalie Kostelni

BioMed Realty Trust is exploring constructing almost 900,000 square feet of new office and lab space here that would involve razing several existing structures it owns off of King of Prussia Road.
The San Diego real estate investment trust is in the early stages and has approached township officials with its plans. As it stands now, BioMed would tear down two existing buildings it owns at 145 King of Prussia Road and construct 300,300 square feet in a single building as well as a parking garage. Another phase would involve knocking down two more buildings and constructing two new structures, one totaling 280,000 square feet and another 294,000 square feet. In addition, it would expand the parking structure that was built in the first phase.
The 19-acre campus BioMed Realty owns on King of Prussia Road consists of five buildings with 374,387 square feet of lab, office and warehouse space the were constructed between 1952 and 1982, and renovated in 2004. It is fully leased to Janssen Biotech Inc., a company owned by Johnson & Johnson.

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