Doubling the University of
Maryland BioPark's lab space, the two-phase 4MLK development
project will represent more than $320
million in total capital investment
BALTIMORE, Sept. 22,
2022 /PRNewswire/ -- University
of Maryland, Baltimore (UMB) and Wexford Science &
Technology, LLC, announced today that 4MLK, the newest development
project in the University of Maryland
BioPark, is slated to move forward, with groundbreaking this fall
(2022) and delivering in summer 2024. The 8-story,
250,000-square-foot building, Phase I of a two-phase project
representing a $320 million total
capital investment, will provide critical wet laboratory space in
downtown Baltimore for researchers
and companies, flexible lab and office/support space for start-ups,
and Class A office space, along with areas for convening and a
conference center.
"For UMB, 4MLK is more than a building — it is a symbol of our
continued growth and dedication to advancing life sciences and
driving economic investment in Baltimore," commented Bruce Jarrell, MD, FACS, President of UMB. "The
BioPark is a highly sought-after location for companies seeking
commercial wet lab space as well as connection to UMB and the vast
resources we offer. We are proud that 4MLK will deliver a high
volume of new lab space to Baltimore, helping fill the severe shortage in
our region."
Located at the intersection of Martin
Luther King, Jr. (MLK) Blvd. and Baltimore St., 4MLK will
serve as a gateway between the BioPark, UMB, and the University of Maryland Medical Center, furthering
the BioPark's mission of bringing together faculty researchers,
entrepreneurs, seasoned life science leaders, and community-focused
initiatives and programs for the advancement of human health
innovation.
"Since the inception of the UM BioPark, UMB has played a
critical role in both the growth of the local life sciences
industry and in fulfillment of the vision of the BioPark as a
center of gravity and congregation for researchers, corporate
innovators, entrepreneurs, and the community," said Jim Berens, Founder and Chairman of Wexford
Science & Technology. "4MLK is the result of our strong,
long-term partnership with UMB and critical focus on providing much
needed world-class research space to private industry. Its
advancement underscores the unique opportunity for life sciences
companies looking to launch or expand in Baltimore."
"Through the new 4MLK development, the UM BioPark will continue
to have a transformational impact on the life sciences, not just in
Baltimore but across Maryland," said Maryland Commerce Secretary
Mike Gill. "Our state remains a
leader in this industry because of forward-thinking, innovative
projects like this one that provide much-needed lab space and other
critical resources for growing life sciences companies."
"I am pleased to see that this collaboration between UMB and
Wexford will bring such a high-quality project to Baltimore," said Brandon M. Scott, Mayor of Baltimore City. "It shows that investing in
Baltimore is a wise and impactful
move that benefits organizations while also reimagining and
revitalizing the city."
4MLK will be the third multi-tenant building developed by
Wexford Science & Technology in the UM BioPark, one of 16
Wexford-developed Knowledge Communities across the country. The
company remains headquartered in the BioPark where it pioneered
this concept.
4MLK's Spaces
- 160,000 square feet of Class A wet lab-capable space will be
available to commercial partners for build-out.
- 40,000 square feet is planned for flexible lab, office, and lab
support facilities specifically designed to meet the rigorous needs
of growing life science companies. These flexible lab spaces are
paired with full-service amenities such as shared lab equipment,
weekly networking and educational programming, and flexible
terms.
- A 16,000-square-foot space for community gathering and events
will encourage networking and provide educational programming
opportunities for tenants, UMB, and the greater Baltimore community.
- Along with the building, the project will deliver an adjacent
public plaza and an activated streetscape with retail and food and
beverage venues along Baltimore Street and MLK Blvd.
- Phase II will add a second 250,000-square-foot lab/office
building.
For additional information and leasing inquiries, please visit
www.4MLK.com, or contact Gregory
Herlong, Vice President and Market Executive, with Wexford
Science & Technology at 410-649-5629.
About University of Maryland
BioPark
The UM BioPark offers high-quality lab and office space solutions
for companies of all sizes, especially high-growth companies
seeking connection with its academic partner, University of Maryland, Baltimore. The 36 tenants
include industry-leading global firms such as Pharmaron, Illumina,
BD, and Catalent, next-gen ventures, university spinouts,
distinguished research organizations, cutting-edge clinical care,
and contemporary workforce training programs. For more information
visit www.umbiopark.com.
About Wexford Science & Technology, LLC
Wexford
Science & Technology, LLC, is a real estate company exclusively
focused on partnering with universities, academic medical centers,
and research institutions to develop vibrant, mixed-use,
amenity-rich Knowledge Communities that are built on a
foundation of research, discovery, innovation, entrepreneurial
activity, corporate engagement, and community
inclusion. These Knowledge Communities create visible
outcomes in the form of substantial economic growth, new and
diverse jobs, and community transformation. Wexford targets
strategic opportunities with top-tier research universities that
are seeking to create knowledge-led economic development
impact for their campuses, cities, and regions. Presently Wexford
has developed sixteen Knowledge Communities across North
America. For more information about Wexford,
visit www.wexfordscitech.com.
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SOURCE University of Maryland
BioPark