NEW YORK (GenomeWeb) – BioMed Realty Trust today announced that Illumina has signed a 20-year lease for a new research building and European headquarters in Cambridge, England.
"This new state-of-the-art European Headquarters will provide enhanced collaboration opportunities for our growing employee base, which is so foundational to Illumina's innovation and success," Illumina CFO Marc Stapley said in a statement.
The building will be housed in Granta Park, a scientific research center eight miles away from Cambridge University that is owned, managed, and operated by BioMed Realty Trust. The real estate firm said in a statement that it acquired the land for the Illumina building from the Welding Institute under a long-term ground lease.
Illumina will have the ability to expand the 155,000-square-foot building by 70,000 square feet, BioMed Realty Trust said.
According to a document filed by Illumina with the US Securities and Exchange Commission, the aggregate rent during the initial term of the lease is expected to be approximately £94 million ($148.1 million)
In January, Illumina signed a 15-year lease with BioMed Realty Trust for a 360,000-square-foot campus in Foster City, California.