
This Everett facility is the newest addition to the Breakthrough Properties portfolio.
Breakthrough Properties, a premier global life science real estate developer, today announced it has acquired a recently delivered biomanufacturing facility at 215 Shuksan Way in Everett, Washington, just outside of Seattle.
In 2024, shortly after acquiring Seagen, Pfizer shut down the facility at this location, backing out of a 20-year lease.

215 Shuksan Way in Everett
Breakthrough, a joint venture of Tishman Speyer and Bellco Capital, acquired the 270,000 square foot property for $78 million out of its second life science fund. In tandem with the acquisition, Breakthrough secured a separate 21-year lease for the entire campus with a global biopharma company to create a U.S. manufacturing facility.
The acquisition exemplifies Breakthrough’s growing focus on investing in U.S. biomanufacturing infrastructure, amid the over $600 billion of recent onshoring commitments made by major pharmaceutical companies to strengthen domestic supply chains.
“This transaction is emblematic of Breakthrough’s unique value proposition. We identified an opportunity to unlock near-term value from a newly delivered, state-of-the-art facility by leveraging our global relationship network to seamlessly execute multiple agreements that created a positive outcome for all parties involved,” said Breakthrough Properties CEO Dan Belldegrun.
“We are thrilled about the next chapter for this world-class facility and to support our partners in achieving their strategic business objectives.”
Designed for fully integrated, end-to-end manufacturing, 215 Shuksan Way offers a full range of capabilities and amenities, from drug manufacturing, quality control labs as well as warehouse and distribution logistics to administrative office spaces and an onsite café. The site was originally leased to Seagen that had invested approximately $350 million to build out a biomanufacturing facility but never moved in after being acquired in 2023 by Pfizer.
The acquisition marks Breakthrough’s first investment in the Puget Sound region, a premier global innovation market distinguished by its highly skilled, highly educated workforce and deep concentration of biotechnology, engineering, and advanced-manufacturing talent. The region is also home to world-class research institutions, incubators, and industry organizations that support life sciences companies across the full innovation cycle from early-stage discovery and company formation through clinical development and commercialization. 215 Shuksan Way sits approximately 25 miles north of Seattle along the I-5 corridor. The location provides easy connectivity to Seattle-Tacoma International Airport, commercial airport Paine Field, the Port of Everett and railway access, which connects the site to major North American freight corridors.
Breakthrough is one of the most active life science real estate firms with a portfolio that spans six million square feet of premier environments in operation and in the development pipeline across the United States and Europe.
Notable Breakthrough properties include One Milestone, its recently completed life science environment anchored by the Roche Genentech Innovation Center at the new Harvard Enterprise Research Campus; Torrey Heights, a 10-acre San Diego life science campus that serves as the headquarters for Pfizer’s oncology division; and One Helix, a state-of-the-art research facility in Amsterdam, which is fully leased to AstraZeneca.
August 14, 2026
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