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Marketing Suite Showcases New Science Center Property

Posted on: Tuesday, 7 August 2007, 12:22 CDT

The Science Center, a 'Total Venture EcosystemTM' for life science and technology companies, today announced the opening of the Marketing Suite for the first building in its sweeping $600 million expansion initiative. The new property, 3711 Market, is the first building in the organization's master plan that, when completed, will more than double the Science Center's campus capacity from 1.7 to 3.5 million square feet. The building is designed to further establish the Science Center as a catalyst for new biotech industry jobs throughout the Greater Philadelphia region. The traditional topping off ceremony took place on August 2, 2007 and the building is on schedule to completed in Spring of 2008.

The suite, located at 3700 Market Street serves as an information hub and showcase for 3711 Market -- allowing prospective tenants and other interested parties to learn about the building, it's features and amenities, and the benefits of locating within Science Center. In addition to providing a venue for the promotion of the new building, the suite will be used to host a variety of events to introduce prospective tenants, industry and academic leaders, and the community to the new facility as construction progresses.

"Selecting 3711 Market is much more than a real estate decision -- it's about gaining access to the wealth of resources and amenities offered by the Science Center in a world-class urban campus environment," said Curt Hess Senior Vice President, Real Estate. "The Science Center offers much more than just space -- with access to funding, operational and business services that growing companies require and an integral part of a Knowledge community surrounding its campus. This marketing suite allows potential tenants and others who work with emerging and growing technology companies to learn about 3711 Market and the complete package offered by the Science Center."

The new 150,000 square foot building at 3711 Market will provide laboratory and office space enabling small and mid-sized life sciences and other high technology companies to grow and remain in Philadelphia. It will also provide space for the Science Center's in-sourcing initiative that creates jobs and economic development by providing a "soft landing" for international life science and technology companies seeking entry into the U.S. Market. The ground floor of the new building will be leased to premier retail tenants to further enhance the Science Center's 24/7 live-work-play environment. Structured parking to accommodate up to 500 cars will be integrated within the building. 3711 Market will be ready for occupancy in early 2008.

3711 Market is designed to be certified by The Leadership in Energy and Environmental Design (LEED) Green Building Rating System™ a nationally accepted benchmark for the design, construction, and operation of high performance green buildings. LEED gives building owners and operators the tools they need to have an immediate and measurable impact on their buildings' performance. LEED promotes a whole-building approach to sustainability by recognizing performance in five key areas of human and environmental health: sustainable site development, water savings, energy efficiency, materials selection, and indoor environmental quality.

3711 Market is being developed through a joint venture with Wexford Science + Technology, a privately held real estate investment and development company serving the needs of science and technology based organizations nationwide. Additional support for 3711 Market is provided by the Pennsylvania Commonwealth Financing Authority and the Redevelopment Authority of the City of Philadelphia. Designed by the internationally renowned architecture firm of Zimmer Gunsul Frasca Architects in conjunction with Ueland, Junker, McCauley and Nicholson, leasing is by Cushman and Wakefield.

Science Center Master Plan

The Science Center, winner of the prestigious 2006 Science Park of the Year Award presented by the Association of University Research Parks is one of world's premier science and technology commercialization centers. In continuing to foster the growth of technology based companies, the Science Center Master Plan strategy is supported by a comprehensive real estate plan to build five new buildings over the next five years. Upon completion of 3711 Market, the plan calls for the construction of four additional buildings in several phases. The final campus will encompass 3.5 million square feet.

ABOUT THE SCIENCE CENTER

The Science Center (www.ScienceCenter.org) is a "Total Venture EcosystemTM" that forms and a fund early stage life science and technology companies, accelerates their commercialization and provides the infrastructure and community they need to flourish. It offers specialized wet and dry laboratory facilities, turnkey management services, a $10 million Venture fund and an experienced real estate management team. Situated on 1.7 million square feet. of real estate on Market Street, adjacent to all of Philadelphia's major universities and medical research institutions, Science Center is positioned in a unique vantage point for creating powerful companies by bringing together strong science and scientists, entrepreneurs, managers, grants and investment capital. Science Center is an attractive "soft landing" place for international companies to launch their US businesses, and is a powerful economic engine for the regional economy.

Since 1963, over 400 companies have originated at the Science Center and today those companies employ over 29,000 people and generate annual revenues in excess of $8 billion dollars.

ABOUT WEXFORD SCIENCE + TECHNOLOGY

Wexford Science + Technology, (www.wexfordequities.com) is a privately held real estate investment and development company that focuses on serving the real estate needs of science and technology based organizations. Headquartered in Hanover, Maryland, Wexford Science + Technology has projects in the contiguous United States and Hawaii, including partnerships with the University of Maryland, Baltimore, The Science Center (Philadelphia), Illinois Institute of Technology, Old Dominion University and Pennsylvania State University Hershey Medical Center.

Source: Business Wire

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