Biotech is Coming to South Lake Union

Gasworks.jpg

The biotech presence in South Lake Union is set to grow, as Puget Sound Business Journal reports that Alexandria Real Estate Equities plans to construct an office and research building—with a $76.5 million price tag—at 1150 Eastlake Avenue East. The project will comprise 12 stories and 303,000 square feet and is one of four projects Alexandria is planning in the region. Their other projects include:

  • 106,000 square feet at 1165 Eastlake Avenue East, scheduled for occupancy in 2020

  • 217,000 square feet (and six stories) at 701 Dexter Avenue North, scheduled for occupancy between 2021 and 2022

  • 198,000 square feet at 188 East Blaine Street, which is open and includes a number of biotech tenants

Alexandria declined PSBJ’s request for comment on the project, but it is estimated that the site will include a below-ground, 210-car parking structure as well. I’ll share more details on this project as they come available.