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Property and equipment, net
 3 Months Ended
Mar. 31, 2018
Property and equipment, net  
Property and equipment, net

7.    Property and equipment, net

Property and equipment, net consists of the following:

 

 

 

 

 

 

 

 

 

 

 

March 31,

 

December 31,

 

 

 

    

2018

    

2017

 

 

 

 

(in thousands)

 

 

Office equipment

    

$

15,978

 

$

14,674

 

 

Laboratory equipment

 

 

54,434

    

 

48,807

 

 

Computer equipment

 

 

51,876

 

 

51,351

 

 

Land

 

 

5,350

 

 

5,350

 

 

Building and leasehold improvements

 

 

218,413

 

 

214,245

 

 

 

 

 

346,051

 

 

334,427

 

 

Less accumulated depreciation and amortization

 

 

(81,441)

 

 

(74,664)

 

 

Property and equipment, net

 

$

264,610

 

$

259,763

 

 

 

In February 2018, we signed an agreement to rent a building in Morges, Switzerland for an initial term of 15 years, with multiple options to extend for an additional 20 years. The building will undergo extensive renovations prior to our occupation and, when completed, will serve as our new European headquarters. The new building will consist of approximately 100,000 square feet of office space and completion is estimated for November 2019. When complete, this building will allow for consolidation of our European operations that are currently located in Geneva and Lausanne, Switzerland.