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Breakthrough Properties buys 215 Shuksan Way biomanufacturing campus
The 270,000-square-foot campus was acquired for $78 million, and Breakthrough locked in a 21-year lease with a global biopharma company.
Breakthrough Properties, a joint venture between Tishman Speyer and Bellco Capital, has acquired a recently delivered biomanufacturing facility at 215 Shuksan Way in Everett, Washington, just outside Seattle.
The purchase price was $78 million for a 270,000-square-foot property, which the joint venture said marks its first investment in the Puget Sound region.
Alongside the acquisition, Breakthrough secured a separate 21-year lease for the entire campus with a global biopharma company to create a U.S. manufacturing facility.
The site is positioned about 25 miles north of Seattle along the I-5 corridor, with access to Seattle-Tacoma International Airport, Paine Field, the Port of Everett, and rail connectivity to major North American freight corridors.