BioMed Realty Trust, Inc.
) inked a new deal with GlycoMimetics, Inc. (
) for leasing a property at the Center for Life Science | Shady
Grove in Rockville, MD. Following the announcement, shares of
BioMed Realty rose during the regular trading session on Aug 27.
However, it slipped on Aug 28 on broader market concerns.
GlycoMimetics, a clinical-stage biotechnology company, focuses
on the innovation and development of medical drugs. The company
finished its public offering in January this year and collaborated
with Pfizer Inc. (
) for its sickle cell disease candidate that will begin phase III
trials. Center for Life Science | Shady Grove will serve as its new
headquarters and GlycoMimetics will occupy approximately 33,800
square feet of space.
Center for Life Science | Shady Grove is a four-building campus,
comprising 214,700 square feet of laboratory and office
space. The property is positioned at 9708 Medical Center Drive
and situated along the I-270 Corridor in Montgomery County. This
region earned its reputation for housing various famous
universities such as the University of Maryland and Johns Hopkins
We are encouraged by this lease deal as it depicts solid demand
for BioMed Realty's assets. Particularly, the strategic location of
Center for Life Science | Shady Grove makes it a much sought after
property in Maryland. The deal will help improve occupancy levels
and boost rental revenue growth going forward.
BioMed Realty focuses on providing real estate solutions to the
life science industry in the U.S. Its tenants primarily include
scientific research institutions, biotechnology and pharmaceutical
companies, government agencies and other entities involved in the
life science industry. Currently, this real estate investment trust
(REIT) has interests in properties comprising approximately 17.2
million square feet of rentable space.
BioMed Realty presently carries a Zacks Rank #3 (Hold). National
Health Investors Inc. (
) is a better-ranked REIT, sporting a Zacks Rank #1 (Strong
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