Breakthrough Properties Acquires, Fully Leases Puget Sound Biomanufacturing Campus

Breakthrough Properties, a joint venture between Tishman Speyer and Bellco Capital, has acquired a recently delivered biomanufacturing facility at 215 Shuksan Way in Everett, Washington, just outside of Seattle.

The joint venture acquired the 270,000-square-foot property for $78 million from its second life science fund. In tandem with the acquisition, Breakthrough secured a separate 21-year lease for the entire campus with a global biopharma company to create a U.S. manufacturing facility.

215 Shuksan Way offers a full range of capabilities and amenities, from drug manufacturing, quality control labs and warehouse and distribution logistics to administrative office spaces. The acquisition marks Breakthrough’s first investment in the Puget Sound region. 215 Shuksan Way sits approximately 25 miles north of Seattle along the I-5 corridor.

The location provides easy connectivity to Seattle-Tacoma International Airport, the commercial airport Paine Field, the Port of Everett and railway access that connects the site to major North American freight corridors.

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