ZymoGenetics said Friday it has sold a parcel of land next to its Eastlake headquarters for $11.5 million to a buyer apparently affiliated with Alexandria Real Estate Equities.
ZymoGenetics said Friday it has sold a parcel of land next to its Eastlake headquarters for net proceeds of $11.5 million. The buyer, according to county records, appears to be an affiliate of Alexandria Real Estate Equities, a California-based developer of laboratory space for biotech firms. Alexandria also owns the main ZymoGenetics building under a sale-leaseback arrangement.
The Seattle biotechnology company will record a gain on the sale of about $7 million, it said in a regulatory filing. The land was bought in 2001 and 2002 when the company anticipated future expansion.