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BioMed Realty pays $14.4M for Maryland buildings

Mon, 03/01/2010 - 10:19am
The Associated Press

Property owner BioMed Realty Trust Inc. said Monday that it paid $14.4 million for two buildings in Montgomery County, Md.

The buildings, totaling 82,400 square feet, are in Gaithersburg, Md., an area known for its high concentration of biotechnology and pharmaceutical companies. They are currently leased to AstraZeneca PLC subsidiary MedImmune Inc. and biopharmaceutical company GenVec Inc.

The acquisition boosts BioMed's presence in Maryland to 1.2 million square feet.

Shares of BioMed rose 29 cents to $15.74 in afternoon trading.

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