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BioMed Realty Bulks Up on Towne Centre Facilities

BioMed Realty Trust has bought a boatload of new life science properties near its planned i3 project. BioMed purchased Towne Centre Technology Park, a four-building, 183k SF campus in University Towne Centre from Arden Realty for $83.8M. It's not too far from BioMed's $189M, 300k SF i3 project off Executive Drive, which is now under construction, reports the San Diego Business Journal. BioMed officials say they will eventually redevelop some facilities while repositioning and renovating three others to clear the way for 200k SF of rentable space. [SDBJ]

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