SAN DIEGO, April 30 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc. (NYSE: BMR) today announced the signing of a new ten-year lease for more than 140,000 square feet at the Pacific Research Center, BioMed's Newark, California multi-tenant research campus. DayStar Technologies, Inc. (Nasdaq: DSTI) will join BioMed's rapidly expanding roster of tenants at the Pacific Research Center in the East Bay of San Francisco's thriving technology corridor.
DayStar is engaged in the development, manufacturing and marketing of solar photovoltaic products utilizing its proprietary thin film deposition technology. DayStar's Chief Executive Officer, Dr. Stephan DeLuca, said, "The Pacific Research Center is an ideal location with excellent facilities that meet our needs as we build our manufacturing capacity."
Alan Gold, BioMed's President and Chief Executive Officer, commented, "It is with great excitement that we welcome Dr. DeLuca and his world-class team to our Newark campus. This lease further demonstrates our ability to deliver on our business model of making Pacific Research Center a thriving multi-tenant research and production campus. DayStar's long-term addition to the campus translates into a significant win for both DayStar and BioMed, and I congratulate our respective teams for bringing this deal to fruition."
About DayStar Technologies
DayStar Technologies, Inc. is engaged in the development, manufacturing and marketing of photovoltaic products based upon CIGS thin film semiconductor technology. For more information, visit the DayStar website at http://www.daystartech.com.
About BioMed Realty Trust
BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on Providing Real Estate to the Life Science Industry(R). The company's tenants primarily include biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. BioMed Realty Trust owns or has interests in 69 properties, representing 112 buildings with approximately 10.4 million rentable square feet, including approximately 1.9 million square feet of development in progress. The company also owns undeveloped land parcels adjacent to existing properties that it estimates can support up to 1.4 million rentable square feet. The company's properties are located predominantly in the major U.S. life science markets of Boston, San Diego, San Francisco, Seattle, Maryland, Pennsylvania and New York/New Jersey, which have well-established reputations as centers for scientific research. Additional information is available at http://www.biomedrealty.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, without limitation: general risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases, dependence on tenants' financial condition, and competition from other developers, owners and operators of real estate); adverse economic or real estate developments in the life science industry or the company's target markets; risks associated with the availability and terms of financing and the use of debt to fund acquisitions and developments; failure to manage effectively the company's growth and expansion into new markets, or to complete or integrate acquisitions and developments successfully; risks and uncertainties affecting property development and construction; risks associated with downturns in the national and local economies, increases in interest rates, and volatility in the securities markets; potential liability for uninsured losses and environmental contamination; risks associated with the company's potential failure to qualify as a REIT under the Internal Revenue Code of 1986, as amended, and possible adverse changes in tax and environmental laws; and risks associated with the company's dependence on key personnel whose continued service is not guaranteed. For a further list and description of such risks and uncertainties, see the reports filed by the company with the Securities and Exchange Commission, including the company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE BioMed Realty Trust, Inc.