Wexford Science & Technology Acquires Chesterfield Building in Durham, North
BALTIMORE, Md., Dec. 31, 2013
BALTIMORE, Md., Dec. 31, 2013 /PRNewswire/ -- Wexford Science & Technology, a
BioMed Realty (NYSE: BMR) company, today announced the acquisition of the
Chesterfield Building site in downtown Durham, North Carolina for total
consideration of $7.5 million.
The seven-story Chesterfield Building was once part of the Liggett & Myers
Tobacco Company complex. It is one of the last remaining historic warehouses
yet to be redeveloped in downtown Durham. The Chesterfield Building is in
close proximity to four universities, Duke University, University of North
Carolina at Chapel Hill, North Carolina State University and North Carolina
Central University, which collectively conduct over $2 billion of research
"We are excited about further expanding Wexford's network in North Carolina,"
said Daniel C. Cramer, Senior Vice President, Development of Wexford Science &
Technology. "As a developer of research-based communities for prominent
research universities and their health systems around the country, we consider
the Durham market, and the Chesterfield Building, an ideal location to
continue Wexford Science & Technology's expansion."
The new investment will ultimately grow BioMed Realty's portfolio to more than
1.2 million square feet in North Carolina, expanding on the company's Wake
Forest Innovation Quarter project and other facilities located in the Research
About Wexford Science & Technology
Wexford Science & Technology, a subsidiary of BioMed Realty, is a real estate
investment and development company specializing in facilities for for-profit
and not-for-profit institutions, especially universities, university-related
research parks and healthcare systems. Wexford brings a unique approach of
collaborating with clients to build knowledge communities which are vibrant,
mixed-use, amenity-rich environments that foster innovation.
About BioMed Realty Trust
BioMed Realty, with its trusted expertise and valuable relationships, delivers
optimal real estate solutions for biotechnology and pharmaceutical companies,
scientific research institutions, government agencies and other entities
involved in the life science industry. BioMed Realty owns or has interests in
properties comprising approximately 16.3 million rentable square feet.
Additional information is available at www.biomedrealty.com. Follow us on
SOURCE BioMed Realty
Contact: Rick Howe, Senior Director, Corporate Communications, (858) 207-5859,
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