Seattle’s Biotech Scene Gets a Boost with Life Sciences Lease

UW Medicine’s Institute for Protein Design has signed a 31,837-sf lease at 330 Yale, marking South Lake Union’s first major life sciences lease of 2025 and a key milestone for Seattle’s growing biotech hub. Image: Mark Griffith Photography

In a significant milestone for Seattle’s life sciences sector, UW Medicine’s Institute for Protein Design (IPD) has signed a 31,837-sf lease at 330 Yale, a state-of-the-art research facility in the heart of South Lake Union in Seattle, WA. This marks the first major life sciences lease of 2025 and adds a world-class tenant to a district rapidly emerging as a hub for biotech innovation.

The IPD, led by 2024 Nobel Laureate Dr. David Baker of the Howard Hughes Medical Institute, is internationally recognized for its pioneering work in synthetic biology and protein engineering. The new facility at 330 Yale will serve as a central hub for the institute’s translational science efforts—taking groundbreaking research from concept to real-world applications in healthcare, sustainability, and technology.

The UW Medicine lease was arranged by real estate services and investment firm CBRE. The 211,555-sf, Class A life science facility is owned by 330 Yale Owner LLC, a subsidiary of KKR-managed accounts. Ongoing lab maintenance is performed by lab asset management and property management firm Lincoln Property Company.

Designed with flexibility and growth in mind, the building features top-tier infrastructure and amenities tailored to the needs of biotech and research tenants. The project team included architecture firm Perkins & Will and construction firm Sellen Construction.

Designed to support a wide range of life sciences uses, 330 Yale features robust lab infrastructure and flexible lab-to-office ratios, with IPD set to occupy the entire third floor and expansion-ready suites coming in late 2025. Image: Mark Griffith Photography

“330 Yale looked to a design that would accommodate the majority of uses in the Seattle life sciences ecosystem. The building’s infrastructure has robust floor loads, backup power and specialized lab air handling,” says Marcus Yamamoto, senior vice president at CBRE. “On the lab side, [there is] a lab-to-office ratio of 60-to-40 with open modular lab benches and private labs for specialized lab uses and functions.”

The IPD will occupy the building’s entire third floor, with potential expansion options available in move-in ready lab suites located on the second floor, which are expected to be completed by Q3 2025. These suites are part of a comprehensive building improvement initiative launched after the property changed ownership in 2024. Other new amenities include a divisible 80+ person conference room, a rooftop event space, and enhanced common areas aimed at fostering collaboration and innovation.

“The new lab spec suites under construction are targeted towards growing life sciences companies that are moving out of incubators or academia,” says Yamamoto. “The new suites may also attract existing biotech companies looking to right size their footprint and locate in a top research facility with a strong ownership and infrastructure.”

The 330 Yale facility features design layouts designed to allow tenants to customize their spaces according to their research needs. “Lab benches are modular, which allows tenants to create flexible layouts. Essential utilities such as gas and power are strategically placed in the ceiling, enabling easy access and adaptability to meet lab requirements including biosafety cabinets and other equipment,” says Yamamoto. He adds, “The property is fully equipped to accommodate unique research and life sciences needs on every floor with robust floor loads, backup power, freight elevators, glass wash and autoclave stations, and specialized HVAC systems to filter hazardous materials.”

The added amenities have made the building more attractive to research tenants, says Yamamoto. “Well-located and amenity-rich properties have outperformed in the market. The property’s ownership and property management team also made the property more attractive because of their strong credibility and specialized services,” he says.

Enhanced amenities have made 330 Yale especially appealing to research tenants in Seattle’s competitive life sciences market. Image: Mark Griffith Photography

The lease adds momentum to a life sciences market that closed 2024 with improved absorption and renewed leasing activity, signaling a strong start to 2025 for both developers and research institutions in the Pacific Northwest. “Investment in the move-in ready spec lab suites, which are available in a variety of sizes, has been instrumental in attracting leasing interest from both established and new startup life science companies. Additionally, the new building amenities have attracted tenants in other industries for special events and presentations,” says Yamamoto.

With its strategic location and robust infrastructure, 330 Yale is positioned to play a vital role in supporting the region’s next wave of scientific breakthroughs. “Life science companies tend to locate near top institutions and companies in related fields due to the concentration of talent,” Yamamoto says. “Having move-in ready options at 330 Yale has been a key differentiator, which will continue to be offered for companies seeking high quality lab space within South Lake Union who want to co-locate near partners and collaborators.”