BioMed Realty Capitalizes on Life Sciences Demand with Tableau HQ Buy

BioMed Realty is the new owner of NorthEdge located at 1621 N. 34th St., at the crossroads of Wallingford/Fremont in one of the hottest urban neighborhoods in Seattle. The price was undisclosed but sources report the acquisition value was north of $200 million.

This class-A office building features 210,000 square feet surrounding a central outdoor courtyard. The courtyard has a series of small rooftop terraces and walkways.

Built in 2016, the building boasts views of Lake Union and encompasses an entire city block. NorthEdge is within steps of the Burke-Gilman Trail, Brooks world headquarters, flagship store of Tableau Software, Adobe and several retailers/restaurants.

“We are excited about the opportunity to add a very attractive asset to BioMed Realty’s portfolio,” says Mike Ruhl, vice president of BioMed Realty in Seattle. “There is certainly demand in the region for properties that can serve both the life science and technology industries. We continue to be active, having recently purchased land in South Lake Union for significant new development and acquiring existing buildings such as NorthEdge in Fremont, which is fully leased. If and when that changes, we’ll evaluate the market to determine the best use for the long term.”