Florida-Based Biologics Company Signs 43K Built-To-Suit Lease On Heels Of Government Contract To Produce COVID-19 Vaccine
Avison Young facilitated a 42,500-square-foot lease agreement between Concept Companies and Ology Bioservices for a new build-to-suit lab space on the heels of a federal government contract for the company to expand production capabilities, including vaccines and therapeutics for COVID-19 once finalized. Concept Companies will develop the facility, conveniently situated adjacent to Ology Bioservices’ headquarters at 13200 NW Nano Court in Alachua, just northwest of Gainesville, Florida.
Avison Young’s Nick Banks, Principal and Managing Director of the firm’s North Florida operations, represented the developer and the tenant during the transaction.
“The race for the COVID-19 vaccine continues to drive demand for life sciences real estate nationwide, and the Ology Bioservices deal is an example of the sector’s tremendous growth in the Gainesville area,” said Banks. “The built-to-suit space represents an expansion in an ideal setting near life science-focused research parks and the UF Innovate Sid Martin Biotechnology Incubator, the #1-ranked biotech incubator in the world.”
Ology Bioservices is a biologics Contract Development and Manufacturing Organization (CDMO) which specializs in the manufacturing of vaccines, antibodies, recombinant proteins, viral products and nucleic acids used for protecting both military and civilian populations against infectious diseases. The company also supports programs in gene and cell therapy.
“The support from city leaders of both Alachua and Gainesville, the assistance from the UF and Santa Fe College in providing strong science-oriented curricula, and the dedicated and hard-working employees, creates the healthy environment to keep our business expanding,” said Dr. Peter H. Khoury, Ology Bioservices President and CEO. “Avison Young and Concept Companies are valued partners who have helped our team navigate the complexity of expanding space for our growing business.”
In addition to the Sid Martin Biotech Incubator in Progress Park, Ology Bioservices is near the Santa Fe College Perry Center for Emerging Technologies and the fully leased Foundation Park research facility that Concept Companies developed and sold in April for $12 million.
“The collaboration on this project between the Concept Companies team, Ology Bioservices, our consultants, and the municipality is a great example of how success can be achieved for our clients when there is an urgent timeline,” said Brian Crawford, Concept Companies CEO. “The facility was entitled and will be under construction within four months of a notice to proceed.”
Concept Companies recently broke ground on Ology Bioservices’ new space and anticipates completion in Summer 2021. Crawford played an integral role in expediting the design and permitting for the facility.
“We look forward to our continued investment in and expansion of the research district in the City of Alachua and Greater Gainesville Community,” continued Crawford.
Source: HREI
