Biosite Diagnostics Remains Loyal to San Diego with $50 million Construction Project

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Construction is well underway on the first phase of the new headquarters for Biosite Diagnostics Incorporated (NASDAQ: BSTE) (San Diego, California). The $50 million Phase I project will account for 325,000 square feet of building space, with future plans of eventually expanding to over 800,000 square feet. (PEC 06003855) The company isn't moving far from its present location in San Diego, where it was founded in 1988, with a focus on the estimated $20 billion diagnostics industry.

Industrialinfo.com has been tracking the Biosite project dating back to June of 2002, when the company was still in negotiations for 26 acres of land in the Fenton Technology Park in San Diego. The company ultimately purchased the parcel for $27.5 million. The new location will consolidate all of Biosite's operations in one location, accommodating research, development, manufacturing and administrative activities.

The success of their unique blood test for congestive heart failure (CHF) that was launched in 2001 has spurred the company's rapid growth. Reportedly over 5 million people suffer from the disease in the United States, with over 500,000 cases added each year. The test, known as the BNP Triage Test, measures levels of B-type natriuretic peptide (BNP). Clinical studies have shown the BNP as having 98 percent accuracy in detecting the disease.

Designed by Delawie Wilkes Rodrigues Barker (San Diego, California), Phase I includes an 85,000 square-foot office building, a 75,000 square-foot research and development building and two 95,000 square-feet manufacturing and warehouse buildings. Reno Contracting (San Diego, California) is overseeing the construction of the project, which is expected to be complete in 2005. Subsequent phases will be initiated based upon demand.

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