PROTECS Announces Acquisition of New Innovation Center in Plymouth Meeting, PA
PROTECS Unveils Sixth Hub in Thriving Philadelphia Suburbs
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Plymouth Meeting, PA, July 31, 2024 – PROTECS proudly announces the acquisition of its 6th and newest innovation center at 5165 Campus Drive, Plymouth Meeting, PA. Strategically positioned in Montgomery County, this 46,000+ square-foot building has been secured by Novita Equities, a PROTECS company, laying the foundation for an expanded realm of innovation and growth within the Philadelphia suburbs.
Formerly owned by Progressive Insurance, the acquisition was structured as a sale-leaseback, with Progressive leasing back over 40% of the building. As the new stewards of innovation at this site, PROTECS is set to relocate its headquarters to the building by the 1st quarter of 2025. Upon PROTECS occupying a portion of the building, an expansive 20,000 square feet of flex space remains available for new tenants looking to join the community of innovators at PROTECS.
This location boasts enviable visibility from the PA Turnpike and is near key transportation routes, including 276, 476, and the NE Extension. This prime location, combined with the building’s flex/industrial design that features a fully automated tailgate loading door, dock leveler, 14.5’ clear height, full sprinkler system, heating and air conditioning, recently updated roof and HVAC system, and a gym on-site, makes it an attractive opportunity for tenants. Occupying 5.15 acres with 226 parking spaces, the center supports substantial growth and accessibility. Another key aspect of this strategic move includes a nationally recognized media company’s long-term lease of an existing digital billboard, further accentuating the site’s value and visibility.
Christopher DiPaolo, President and CEO of PROTECS, remarked on the acquisition: “The addition of 5165 Campus Drive as our third innovation center on Campus Drive and the sixth overall since opening our first in 2012, represents approximately 275,000 square feet of complex space that enables and fosters groundbreaking treatments, products and cures in a shared environment that is extremely collaborative. These six innovation centers represent a significant milestone in our journey to empower and facilitate companies to reach their strategic mission and facilitate immense growth in the research and development sectors.
PROTECS Innovation Centers are at the heart of the company’s mission to revolutionize the way research and development and manufacturing companies operate and grow. They offer tailor-made spaces that inspire and facilitate efficiencies, affordability and scientific technological breakthroughs. With locations in Blue Bell, King of Prussia, Plymouth Meeting, and Warminster, each center is strategically positioned to provide an optimal environment for companies to flourish and grow. This new acquisition on Campus Drive signals another step forward in PROTECS’ commitment to expanding its footprint and impact the region and life sciences industry.
About PROTECS
PROTECS is a national leading, full-service design-build construction management and project management company with five US offices focused on serving the hi-tech regulated market sectors. For over 19 years, PROTECS has provided its clients with a broad range of leveraged services in a collaborative design/build and construction management approach by partnering with best-in-class architecture/engineering firms from project inception to occupancy. Through PROTECS’ patented Target Costing® delivery methodology, the company acts as a single point of contact and accountability for master planning, site selection, design, construction, commissioning, and validation. At the core of its delivery approach, PROTECS takes on the risk to guarantee performance, conformance, compliance, time to market and, above all, cost to ensure all its clients’ strategic objectives and goals are met. For more information, please visit www.protecsinc.com.
About PROTECS Innovation Centers
PROTECS Innovation Centers™, totaling 275,000 square feet of manufacturing, lab and office spaces, have specialized infrastructure to effectively and efficiently support the manufacturing and R&D operations of innovative companies that require dedicated and secured operational spaces while sharing common amenity areas to promote “collaborative collisions.” Differentiated in the marketplace by being a developer, landlord, property and facility manager coupled with its knowledge of designing, constructing, commissioning and validating facilities, PROTECS provides a 360-degree view of all project aspects. PROTECS Innovation Centers™ are the ultimate reflection of PROTECS’ competencies in serving the life sciences and high-tech sectors and the company is committed to giving innovation its space to grow to allow technology companies to feed, fuel and cure the world. For more information, visit www.protecsinc.com/company/protecs-innovation-centers.
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