Adaptive Biotechnologies Corp. signed a 12-year, full-building lease at urban office real estate investment trust Alexandria Real Estate Equities Inc.'s 100,000-square-foot development at 1165 Eastlake Ave. E. in Seattle for its new headquarters.
Rendering of 1165 Eastlake Ave. E. in Seattle
The new lease enables the biotechnology company, which reads and translates the genetic code of the adaptive immune system, to expand near its existing facility at another Alexandria-owned property, 1551 Eastlake Ave. E.
The 1165 Eastlake ground-up development project is set to deliver in 2020. Adaptive is expected to occupy the space in 2021.
The REIT said it is continuing the expansion of The Eastlake Life Science Campus-North Campus, which includes the 260,000-square-foot 1150 Eastlake Ave. E. office and laboratory development. Preconstruction is expected to start in 2020, and the building is expected to be substantially pre-leased for its projected initial occupancy in 2022.
Rendering of 1150 Eastlake Ave. E. in Seattle