CHICAGO, IL, April 18, 2022 — Chicago-based Mark
Goodman & Associates, Inc. (MGA), a real
estate firm with over 30 years of development, investment and construction
management experience, today announced it has closed on the acquisition of an
approximately 1.5-acre parcel of land at 400 N. Elizabeth St. in Chicago’s
Fulton Market neighborhood, where it will begin construction on a 16-story
life sciences facility later this year.
Designed by nationally recognized architecture
firm Solomon Cordwell Buentz (SCB) to be a low embodied carbon building that is both
LEED Gold and WELL certified, 400 N. Elizabeth St. will be the first
purpose-built lab and research and development building in
Chicago designed to specifically accommodate the rapidly growing life
sciences and biotechnology industry.
The
building will offer approximately 503,000 square feet of laboratory, office
and research & development space suitable for a range of life sciences
pursuits, including biotechnology, medical devices, pharmaceuticals, clean
energy, food sciences, material sciences and nanotechnology. “The life sciences market has never been
stronger, and with the addition of this building, Chicago is quickly on track
to emerge as one of the next centers of excellence in the field to attract
highly sought-after investment and premier talent,” said MGA principal Mark
Goodman. “Because the industry is experiencing record-breaking highs in
funding and job growth, the demand for new construction life sciences lab and
office space that is customized for the end-user is unparalleled. "With 400 N. Elizabeth, Chicago will have
one of the only new R & D/Lab buildings designed by and for scientists to
create best-in-class innovation.”
“While Chicago is attracting life sciences
investment in many neighborhoods, Fulton Market is quickly becoming a de
facto hub in the city, with additional supply of lab space being planned and
delivered,” said Scott Brandwein,
managing director of JLL. “Drawing on its industrial roots, Fulton
Market offers proximity to the medical district, major educational
institutions, and some of the city’s marquee employers, along with
Michelin-starred restaurants, luxury residential buildings and boutique
hotels, making it a highly desirable urban location that appeals to the
scientists and professionals that work for life sciences firms. "It
has all the right elements for a company wanting a downtown location that
will become only more attractive to employees over time.” “Our design resulted in large floorplates for
labs and high bay ground floor for specialty spaces, such as pilot labs, to
uniquely position the building for established and emerging companies looking
for flexible and highly sustainable lease spaces near the West Loop,” said Jay
Longo, AIA, principal at SCB. Construction is anticipated to take up to 20
months, with an expected completion date in 2024.
CONTACTS: Amanda Cienkus (312)
267-4524 Kim Manning (312)
267-4527
|
Monday, April 18, 2022
Mark Goodman & Associates Closes on 400 North Elizabeth Street in Chicago’s Fulton Market and Plans New, 16-story, 503,000-square-foot lab and office Life Sciences Hub
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment