This year, Maryland continued to prove why it’s becoming one of the strongest biohealth clusters in the country. The state’s commitment to businesses in the life science, pharmaceutical, and biotech industries has continued as both the private and public sectors work to meet the demand for more space. Here are a few of the biggest real estate projects in Maryland in 2021. Some of these projects are still under construction, while others were unveiled this year.
Secretary of Commerce tours new I-270 Innovation Labs, flexible lab space meeting critical industry need
From left to right: Kelly Shultz – Secretary of Commerce, State of Maryland; Luis Rugeles – Co-founder & CEO, I-270 Innovation Labs; and Doug Bane – Co-founder & COO, I-270 Innovation Labs.
The biotechnology and pharmaceuticals industry continues to heat up in Frederick, with startups launching and raising significant funding, and larger companies expanding beyond hubs like Gaithersburg and Rockville. And these companies all need lab space to grow.
Co-founders Doug Bane and Luis Rugeles are aiming to fill that need with a newly renovated 22,000-square-foot building in Frederick, specially outfitted to serve that growing pool of biotechs. The space, called I-270 Innovation Labs, is stationed in the Westview Business Park at 5107 Pegasus Court and provides researcher-grade facilities for growing companies in need of affordable lab space. Bane and Rugeles said the concept for the space came from a group of local investors — including themselves, but the rest of whom they did not name — who recognized the need for additional biotech-focused real estate assets.
The space is designed to be flexible, to accommodate members that may need to rent space only temporarily or for longer periods.