Life Science is booming in Wake County and the Research Triangle region, so much so that there have been more than 29 projects announced since 2020, totaling more than 5,895 new jobs and more than $5 billion in capital investment in the region.
Though there are currently 12.3 million square feet of life science space in the market, developers are working hard to keep pace with the recent announcements and still leave room for growth with 8.2 million square feet in proposed development in the Research Triangle region. Not only are there new properties being built, but developers are reimaging existing buildings and converting properties to spaces that are better acclimated to the life science industry and lab settings (see below INQ 4300 as an example).
Recently ranked the #4 national biopharma leader and the #9 global location for life sciences by Business Facilities Magazine, Wake County is prepared for continued growth as a premier destination for the Life Science Industry.
Here’s a look at some of the projects currently in development across the county.
The Press: A former office and distribution center located at 2001 Evans Dr. is being redeveloped with the life science industry in mind. The Press is designed to be the newest destination to life science industry leaders who want to tap into one of the fastest growing markets in the nation. Learn more.
- Single-tenant or Two-tenant use
- Total Building Approx. 262,400 SF office and lab/advanced manufacturing for life science
- 25’ – 40’ Ceiling Heights in lab/advanced manufacturing space
INQ 4300: Located at 4300 Fayetteville Road, INQ 4300 started to undergo significant interior and exterior renovations in Q1 2022 with plans to deliver late summer 2022. Redevelopment plans are focused on creating a modern, highly amenitized laboratory and production environment for life science users. Once complete, INQ 4300 will feature new landscaping and hardscaping, glass openings, a new building facade, roof and outdoor amenity areas. Learn more.
- 180,000 square feet
- Redevelopment of a former big box retail store for life sciences
Catalyst BioCampus: Catalyst BioCampus is Wake County’s first High-Performance Shell solution, offering an advanced building shell infrastructure while remaining flexible for biopharmaceutical companies to translate their breakthroughs into therapies with unprecedented speed. Currently under construction with the earliest availability in the market, Catalyst BioCampus is on track to start biomanufacturing in 1 year or sooner and accelerate speed to market by 9-15 months. Learn more.
- Up to 446,000 square feet
- Located near FUJIFILM Diosynth Biotechnologies, Amgen and Seqirus campuses
Yield 2.0: The YIELD 2.0 is the second phase of Crescent Communities’ vast 200-acre master development. It offers a fully customizable opportunity with 10 buildings dedicated to life science lab and biomanufacturing. Learn more.
- 775,000 square feet
- Building 1 delivery by Q1 2023
- Water is serviced by the town of Holly Springs, Electricity by Duke Energy, and Natural Gas by Dominion Energy.
Helix Innovation Park at Friendship: Helix Innovation Park at Friendship sits on the NW side of Holly Springs along the life science corridor of US-1, just a mile south of the I-540 interchange. The Park is easily accessible to the interstate highway system for an easy 20-minute drive to RDU International Airport, the heart of Research Triangle Park (RTP), and Downtown Raleigh. Learn more.
- 400+ acres available for future development
- Fully served with all utilities by early 2023
- Reclaimed water available
Spark LS: Starwood Capital Group and Trinity Capital Advisors have announced plans to develop Spark LS, a landmark advanced life science campus. It will feature cutting-edge lab and bio-manufacturing space and is designed to empower all phases of life science advancement from discovery to delivery. In addition, Spark’s retail, restaurants, parks and recreation areas will ensure that employees and visitors have every convenience at their fingertips. Learn more.
- 109 acres
- 5 million square feet
- Nearly $1B investment
- 1 mile from I-40, less than four miles from RDU, 5 miles from Apple’s future RTP campus
Pathway Triangle: Pathway Triangle brings together the full drug development lifecycle – from discovery to delivery. This biomanufacturing and R&D dedicated campus is a cutting-edge continuation of Pathway by King Street’s growing national portfolio of purpose-built life science facilities. Learn more.
- 75 acres
- 1 million rentable square feet
- $1B+ total investment
- Q2 2023 available for fit out, Q3 2023 phase 1 delivery
Emerge: Emerge Science Center is a purpose-built campus, with enhanced lobbies, conference space, fitness center, and a dedicated amenity building. All facing towards a green street, where interaction and collaboration can thrive. Learn more.
- 600,000 square feet of Class A Lab delivering in 2024
- 4 buildings
- Easy access to RDU, neighborhood food, beverage and retail
North Hills Innovation District/Tower 5: With the mission of bringing together private innovation in technology, life sciences and entrepreneurship with meaningfully scaled public open space, NHID is the latest District of North Hills to be unveiled. Tower 5 is designed by CRTKL’s Life Sciences Division for the accommodation of Technology and Life Sciences based tenants. Learn more.
- 322,232-square-foot, 17 story, Class A Leed Gold office building
- Approximately 28,000 RSF Floorplates
- 7,500 SF of active ground-level retail
Original Article Source: Wake County Economic Development