Property owner BioMed Realty announced that it has fully leased its 316,000-square-foot i3 campus, currently under construction at University Town Center, to biotech company Illumina Inc.
Financial terms of the 10-year lease were not disclosed. A spokeswoman for San Diego-based BioMed Realty said Illumina will occupy the new campus in addition to retaining its significant current presence nearby in UTC.
San Diego-headquartered Illumina employs more than 4,800 globally, including nearly 2,000 in the local market, and reported 2015 sales of $2.2 billion. The company does research and development in DNA sequencing and related genomic areas, applied to industries including healthcare and agriculture.
Illumina’s headquarters campus is at 5200 Illumina Way in UTC, and it has regional offices in San Francisco, Santa Clara, Redwood City and Madison, Wis.
A BioMed statement said the $146 million i3 campus, on which ground was broken last year, is slated to be completed in July 2016, and Illumina is expected to occupy the campus in July 2017. The campus is located at 4775 Executive Drive, near Interstate 805.