Fred Hutch Cancer Center makes big real estate pivot in South Lake Union
Seattle’s Fred Hutchinson Cancer Center has decided to pivot away from constructing the Stuart and Molly Sloan Precision Oncology Institute Building to acquire a new property at 1165 Eastlake Ave E. and enter a joint venture partnership for a 70% interest in two nearby buildings.
This decision conveys Fred Hutch’s sense of urgency to expedite planned research expansion faster than constructing a new building and avoid disruption to its existing labs. It also preserves space in the center’s 2 million-square-foot South Lake Union campus for any future needs, said Fred Hutch President and Director Dr. Thomas J. Lynch Jr. in a recent release.
“This opportunity allows us to swiftly advance our research, expand our South Lake Union campus in the heart of Seattle’s life science and biotech community, and preserve space in the center of campus for future needs including clinical care, all in a way that is extremely cost-effective,” Dr. Lynch elaborated.
The real estate move will add more than 300,000 square feet of research, lab and adaptable space to Fred Hutch’s South Lake Union campus and enable greater advancements in care for life-threatening illnesses.