SEATTLE — Kilroy Realty Corporation (KRC) has acquired a 140,605-square-foot life sciences facility in Seattle for $106 million. The four-story facility is located at 401 Terry Ave. North in the city’s South Lake Union neighborhood. It sits adjacent to KRC’s Westlake Terry campus. Notable tenants in the surrounding area include Amazon.com, the Bill and Melinda Gates Foundation and the Fred Hutchinson Cancer Research Center.
The LEED-Gold property was developed in 2003. It was one of only five life science facilities developed in the Puget Sound region during the past 10 years. The building is fully leased to Institute for Systems Biology (ISB) through 2021. ISB is a foremost strategy developer for the fields of biology and medicine.
KRC was represented by Peter Roth of Allen Matkins law firm. Joseph Delaney and Bryan Helfer of the Foster Pepper law firm represented the seller, Vulcan Realty Corp., in this transaction.