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Property and Equipment
 6 Months Ended
Jun. 30, 2017
Property and Equipment  
Property and Equipment

7.    Property and equipment, net

Property and equipment, net consists of the following:

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

December 31,

 

 

 

    

2017

    

2016

 

 

 

 

(in thousands)

 

 

Office equipment

    

$

10,487

 

$

9,243

 

 

Laboratory equipment

 

 

42,258

    

 

37,203

 

 

Computer equipment

 

 

43,079

 

 

38,184

 

 

Land

 

 

5,350

 

 

4,125

 

 

Building and leasehold improvements

 

 

180,561

 

 

130,734

 

 

 

 

 

281,735

 

 

219,489

 

 

Less accumulated depreciation and amortization

 

 

(62,857)

 

 

(51,810)

 

 

Property and equipment, net

 

$

218,878

 

$

167,679

 

 

 

In September 2016, we entered into two agreements to purchase two buildings at 1701 Augustine Cut-off in Wilmington, Delaware.  The purchase closed in March 2017 for a total purchase price of approximately $8.1 million, consisting of $1.2 million of land and $6.9 million of buildings and leasehold improvements, which we estimated using the assistance of a third party valuation specialist.