Edwards Adds Another Office to Portfolio
Tuesday, June 02, 2020
Edwards Lifesciences Corp., Orange County’s largest publicly traded company, has added another office building to its rapidly expanding headquarters campus.
The medical device maker recently completed the purchase of 3009 Daimler St., a roughly 52,000-square-foot building that sits on the Santa Ana side of Alton Parkway, near Red Hill Avenue.
Edwards’ main campus is in Irvine.
$65M+ of Deals
Edwards makes products for treating structural heart disease, specializing in artificial heart valves, as well as critical care and surgical monitoring devices. It’s valued at nearly $45 billion; its shares are up some 30% over the past year.
It has been an active area investor in real estate in recent years, snapping up several existing buildings in the vicinity of its headquarters for its operations. The latest purchase puts its real estate purchases over the past three years at more than $65 million.
Three years ago, it paid a reported $18.5 million for a two-building property along Alton that’s next to its new acquisition.
In 2017, the company’s local employee base was approaching 4,000, now that figure is closer to 4,500 workers and expected to grow further with a multibuilding expansion project now well underway with its first phase of construction.
The collection of new buildings is expected to ultimately total about 500,000 square feet, and include two office and laboratory buildings, an employee amenities facility, and a parking structure.
Its existing main campus currently runs some 650,000 square feet. The facilities are used for research and development, regulatory and clinical affairs, manufacturing, marketing, and administration. A large portion of the company’s non-manufacturing employee base is working remotely during the pandemic.
Edwards indicated in state regulatory filings last year that it planned to invest $239 million in the three-year expansion project in Irvine.
B. Braun Purchase
Another medical device maker making real estate deals nearby is Germany’s B. Braun Group of Cos., Orange County’s second-largest foreign-owned company with nearly 1,700 local employees.
The medical and pharmaceutical device company, which ranks No. 4 among area device makers by employee count, recently paid nearly $8 million to buy a 30,600-square-foot industrial building at 2206 Alton.
It is next to B. Braun’s Irvine sprawling campus near the Diamond Jamboree shopping center.
The company already leased space at the building, and purchased the facility from a family trust, property records indicate.
B. Braun’s nearly 30-acre campus is about a mile from the headquarters of Edwards Lifesciences.
It’s also getting a major revamp. B. Braun said last year it planned extensive renovations to its Irvine facilities as part of a $1 billion investment in new and enhanced IV therapy manufacturing facilities it has across the U.S.
The Irvine facilities will see modernizations to its manufacturing facilities to help “expand capacity of critical IV fluid production,” it said in a statement at the time.
Category: Member News, Economic News, Life Sciences, Healthcare