Biotech's a Key Part of Seattle Tech Boom
Seattle's place as a tech hub got a little stronger recently with the groundbreaking of 400 Dexter Ave N, a 12-story biotech building in South Lake Union. Alexandria Real Estate Equities is developing the 287k SF lab/office building, which Juno Therapeutics will anchor in '17 as its new HQ, occupying 90k SF with expansion options. Alexandria CEO Joel Marcus stresses the importance of the collaborative space environment that the building will offer Juno and its growing workforce, which "will enhance creativity and discovery." Joel is second from left; others at the event included Mayor Edward Murray, third from right.
Juno's specialty is devising therapies to engage the body's immune system to treat cancer, with a long-term aim to leverage its cell-based platform to develop new products that address a broad range of diseases. The company went public late last year, and has raised $314M in venture funding. Joel notes that 400 Dexter will integrate with other area properties to augment South Lake Union's status as one of the top biotech clusters in the nation.
