Downtown’s newest biotech space to become 100,000 square feet ecosystem of innovation
News release
24 May 2023
JLL PDS Team to Manage Construction of Innovation Center
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Richmond, VA, May 25, 2023– JLL announces today its Project and Development Services (PDS) team was awarded the contract to manage the design and construction of Richmond’s newest biotech space, Activation Capital’s Innovation Center. The development is being spearheaded by Activation Capital, the Commonwealth of Virginia’s public enterprise whose mission is to grow life sciences and other advanced technology innovations.
“Our PDS team has been steadily growing and taking on more and more life science projects here in the Richmond area and we are thrilled to add this major development to our roster,” remarked Jake Hughes, Senior Vice President, JLL. “This building will serve as an innovation catalyst and ultimately the crown jewel of Activation Capital’s VA Bio+Tech Park. JLL is honored to be a part of what will help grow our city, adding diversity and value to our region’s economic fabric.”
JLL’s PDS group is responsible for the full suite of project management services including the management of due diligence, architecture, engineering and construction. The Innovation Center will be a 100,000 square foot building with 20,000 square feet of shared lab space, 25,000 square feet of private offices with dry and wet labs, 35,000 square feet of anchor tenant office and lab space and 20,000 square feet of circulation.
“We are excited about our partnership with JLL,” noted Kipton Currier, Vice President of Operations for Activation Capital. “Given both their deep life science and local project experience, we are confident they are the ideal team to bring the Innovation Center to life on time and on budget. JLL is a trusted partner, and we are looking forward to their project leadership on this initiative.”
For more information about JLL Richmond, visit https://www.us.jll.com/en/locations/mid-atlantic.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Activation Capital
Activation Capital is a leading innovation ecosystem development organization providing social, knowledge, and financial capital to clusters, entrepreneur support organizations, and entrepreneurs – accelerating their progress through development and maturation. Activation Capital, an independent authority of the Commonwealth of Virginia, is on a mission to grow life sciences and other advanced technology innovation by promoting scientific research, commercialization, and ecosystem development that attracts and creates 21st-century jobs and companies. It operates the 34-acre Virginia Bio+Tech Park – the hub of life science and technology innovations in Central Virginia, oversees the Cluster Accelerator for Advanced Pharmaceutical R&D and Manufacturing, and supports the development and expansion of the region’s start-up ecosystem. As a political subdivision, Activation Capital has the authority to plan, construct, and equip projects. For qualifying projects, the authority can issue bonds. For more information, visit www.activation.capital.