IRA Capital recently purchased a 237,000-square-foot life science and R&D campus in Columbus, Ohio from The Inland Real Estate Group of Cos. for $21.5 million. Developed in two phases between 1995 and 2001, the campus was previously sold in 2005 for $47.8 million.
The four interconnected, three-story buildings at the campus feature 53,407-square-foot floorplates, five passenger elevators, controlled access, and 1313 car parking spaces at a ratio of 5.5 spots per 1,000 square feet. Sarepta Therapeutics is the anchor tenant and operates its Gene Therapies Center of Excellence within the campus.
Situated in the Easton submarket at 3435 Stelzer Road, the campus offers easy access to Interstate 270 and U.S. Route 62, with downtown Columbus less than 10 miles away. Other gene manufacturing facilities in the metro area include Abbott Laboratories and Forge Biologics.
Venture capital funding for life science assets has seen a slowdown across the nation, but core markets like Columbus continue to see a robust pipeline of lab space developments. Despite this challenge, Boston currently leads the way with a significant amount of projects underway as of February – representing nearly six percent of all life science development across the country
