BioLegend Spends $24M in Miramar

BioLegend Inc., a developer of antibodies and reagents for biomedical research, recently acquired four buildings in Miramar’s Carroll Tech Center for $24 million. The seller was a fund-affliate of LBA Realty.

The buildings total 136,000 square feet and were built in the 1980s. The deal was brokered by Robert Merkin and Bill Dolan of CBRE, and this transaction is a sign of the increased demand in the San Diego biotech industry.

Sony Online Entertainment was the most recent large tenant in the four-building complex. But, BioLegend is a major up-and-coming biotech competitor and reportedly wanted to solidify the deal, making the industry a big player now in Miramar.