Biotech & Health
Real Estate & Hospitality

Horizons Therapeutics Signs Huge Lease in Montgomery County; Kicks Off Alexandria Office Campus Construction

MBS Staff

Image: Alexandria Real Estate

In what is sure to be one of the biggest office leases of the year (yes, already this early in 2022), Horizon Therapeutics plc (Nasdaq: HZNP) announced they signed a long-term, full-building occupancy agreement with Alexandria Real Estate Equities, Inc.

The 192,000 square foot office lease kicks off the groundbreaking of the state-of-the-art biotech campus called the Alexandria Center at Traville Gateway in North Rockville. At build out the campus will contain five office buildings and sit on land in front of the former headquarters of Human Genome Sciences, which is now occupied by GlaxoSmithKline Global Vaccine Research center. GlaxoSmithKline purchased Humane Genome Sciences back in 2012 for $3.6 billion.

“Maryland has one of the fastest growing biotechnology communities in the country with a world-class talent pool of scientists and researchers,” said Tim Walbert, chairman, president and chief executive officer of Horizon.

“With this new facility we are more than quadrupling our current Maryland footprint and creating a hub that will support job growth, drive our company’s continued efforts to develop new medicines for patients with rare, autoimmune and severe inflammatory diseases and meet the needs of our expanding pipeline. We look forward to expanding our presence in Maryland and appreciate the support from local, state and federal officials who recognize the economic and community value of the life science industry.”

Horizon entered the Montgomery County biotech industry with the purchase of AstraZeneca spin-out Viela Bio in March 2021 for $3 billion.

Montgomery County has a history of attracting larger life science companies after local acquisitions, besides the aforementioned, AstraZeneca also entered the county through the purchase of Medimmune in 2007 for $15.6 billion. It was the largest biotech in the D.C. area and eighth largest in the world at the time.