he University of Pennsylvania has selected a developer for a life sciences facility that will join the Ivy League school’s Pennovation Works incubator along the Lower Schuylkill. Longfellow Real Estate Partners, the nation’s largest private developer of life sciences buildings, will lead the construction of three new buildings covering 455,000 square feet at 3401 Gray’s Ferry Ave. The 23-acre Pennovation Works is adjacent to Penn’s campus on a former DuPont industrial site, where the Pennovation Center opened as an entrepreneurial and research hub in 2016.
Longfellow Real Estate Partners today announced the acquisition of One Preserve Parkway in Rockville, Maryland. Located along the I-270 corridor (also known as DNA Alley), One Preserve will offer today’s most innovative life science tenants the almost immediate availability of 191,000 square feet of state-of-the-art lab space. The building features a market leading on-site amenity package, ample parking, as well as flexible and efficient floorplates of roughly 30,000 square feet.
Developer Michael Darby plans to break ground next month on the first life sciences project for his firm, Monument Realty, which has a long history of developing apartment buildings in the D.C. region. At the 135K SF Monument Innovation Center, which Darby is building speculatively along the I-270 life sciences corridor in Maryland, Darby said he’s being a lot more cautious than in his area of expertise, where his track record gives him confidence to get ahead of market trends. “It’s so easy to overestimate the demand,” he said of making the leap to life sciences. “It’s already inspired people to make bad mistakes and expand into the wrong markets.”
Governor Larry Hogan joined dozens of attendees at Ellume’s grand opening in Frederick on March 31 to welcome the diagnostics manufacturer to Frederick County. Ellume’s 215,000-square-foot production facility on Executive Way has been up and running since February 2022, only ten months after the company signed a lease with Matan Properties.
South Duvall, the Rockville-based life science real estate investor, is set to convert an office building at 1450 Research Boulevard to 45,000 square feet of lab space. The Rockville building, which South Duvall submitted plans for earlier in January, will be flush with amenities and suitable for one or multiple tenants.
Monument Realty, in partnership with Nuveen will be developing a state-of-the-art life science building located just off I-270 in Gaithersburg, MD, on a 33-acre parcel of land owned by an affiliate of Monument Realty. The new building is being specifically designed to meet the advanced requirements of tenants in the fast-growing life sciences sector. The project located at 735 Watkins Mill Road will be named Monument Innovation Center and will be the latest addition to the life science cluster in Maryland’s I-270 Life Science Corridor.
Beckham Gumbin Ventures (BGV), a commercial real estate investor and developer, is beginning construction on brand new R&D laboratory spec suites and amenities at Ballenger Bio (321 Ballenger Center Drive) in Frederick, Maryland. Ballenger Bio will offer several 3,000 to 7,000 SF R&D laboratory spec suites, with the ability to combine up to 37,000 SF of contiguous space on a single floor. Building such spec labs will allow for growing biotech companies to focus on their business as opposed to construction costs and timelines.
Virginia Beach is seeking to build a bio cluster in the heart of everything Virginia Beach has to offer. The cluster reached an important milestone, recently opening a brand new accelerator lab constructed and managed by BioHealth Capital Region (BHCR) stalwart Facility Logix. VABeachBio and its partners see this new lab as a sign of great things to come.
Matan Companies announces today leasing has begun at Progress Labs at Riverside I in Frederick, Maryland. Receiving its site plan approval on March 9, the 215,000 square feet of biomanufacturing-ready space will include a 96,000 square foot existing building as well as a 119,000 square foot expansion building, which is slated to break ground in May 2021 and is expected to be fully complete by Spring 2022.