Research Triangle Park (RTP) & the Triangle Biotech Cluster

[KJHburg]

New pharma consulting firm moving HQ to downtown Raleigh.

https://www.propharmagroup.com/press/propharma-announces-new-global-headquarters-in-raleigh-nc

evidently it involves 75-100 jobs 

[KJHburg]

Finally a tall high rise coming to the heart of RTP a 17 story Renaissance Hotel in the HubRTP development.

""Renaissance Hotels, a luxury hotel brand under Marriott International (Nasdaq: MAR), is planning a new location in RTP. The hotel is a part of the Hub RTP development bringing residential, retail, office and hospitality space to a region known for research and tech campuses.

Site plans filed with the City of Durham show a Renaissance RTP Hotel with 17 levels and 254 rooms across 283,000 square feet. The plans were filed April 4.

Several hotels surround Research Triangle Park due to its proximity to Raleigh-Durham International Airport, but the Renaissance RTP would be the first hotel inside the park proper.""

well the first hotel was the Governors Inn but they was closed and demo'ed years ago.

this is great for the new heart of RTP.

https://www.bizjournals.com/triangle/news/2023/04/14/renaissance-hotel-hub-rtp-raleigh-durham.html

 

[Raleigh Walker]

A few cruddy pictures of HubRTP construction site. I'm getting a drone soon, I'll make sure I'm allowed first but I'm going to try and take a few aerial shots one of these days. 

[Blue Ridge]

FUJIFILM Diosynth Biotechnologies Acquires Additional 41 Acres of Land in RTP

Research Triangle Park, North Carolina, April 19, 2023 – FUJIFILM Diosynth Biotechnologies, a world leading contract development and manufacturing organization for biologics, vaccines, and advanced therapies, today announced the acquisition of 41 acres of land adjacent to its existing state-of-the-art campus in Research Triangle Park (RTP), North Carolina. The additional 41 acres brings the total campus size to just under 119 acres in RTP giving the company room to grow for future capacity for manufacturing and development of biologics.
The FUJIFILM Diosynth Biotechnologies RTP campus is comprised of three main buildings which include over 170,000 square feet dedicated to GMP manufacturing of biologics; 151,000 square feet of process and analytical development laboratories* and ~60,000 square feet of administration space. Currently there are over 650 employees at the RTP campus.
Since 2014, FUJIFILM Diosynth Biotechnologies has significantly grown its footprint in RTP, most recently with the expansion of its BioProcess Innovation Center, which broke ground in April 2022. That expansion will double the site’s laboratory space and capacity to support Process Characterization programs. The expanded laboratories will be fully operational in spring 2024.
“With an established history in RTP, we’ve been able to build strong relationships with academia and the local, regional and state communities, to ensure we are building a strong foundation for the future,” said Chris Vannais, chief operating officer, FUJIFILM Diosynth Biotechnologies, RTP. “We look forward to continuing our growth in RTP, so that we are well positioned to continue providing life-impacting therapeutics.”

https://fujifilmdiosynth.com/about-us/press-releases/fujifilm-diosynth-biotechnologies-acquires-additional-41-acres-of-land-in-rtp/

[KJHburg]

State of biotech pharma real estate market and industry in the area.  There has been some ups and downs of recent with some new plants and labs cancelled but others expanding.  Still a huge cost advantage to the Raleigh Durham biotech cluster than other markets like Boston and San Diego.

https://www.bisnow.com/national/news/life-sciences/is-raleighs-rapid-rise-in-biotech-impacted-by-an-uncertain-market-118967

[rancenc]

Looks like the spinoff from Labcorp has selected Durham as it's new headquarters

 

https://wraltechwire.com/2023/05/19/labcorps-19000-employee-spinoff-fortrea-ceo-sinks-early-roots-in-durham/

[KJHburg]

Wake County EDC is off to Boston to market the area to biotech firms

Wake County Econ Dev
@RaleighWake

We are Boston bound for #BIO2023! We look forward to sharing all the ways life science thrives in Wake County. Preview our brand new brochure ahead of next week's conference here: 

https://raleigh-wake.org/target-industries/life-sciences

Notice the comparisons to Boston in terms of pricing of space and cost of living. 

[KJHburg]

The Hub RTP is coming together with office building framed up and the parking decks for the apartments built.  Boxyard RTP looks good as well.  Can't wait for that high rise hotel to go up.

https://hub.rtp.org/

[KJHburg]

Raleigh Durham is a still a top life sciences market.

When it comes to the top biomanufacturing market, JLL designated Raleigh-Durham as the leader. The area is “uniquely positioned due to the history of large-scale biomanufacturing in and around Research Triangle Park and the outlying counties, large talent pool, and three tier-one universities.” Philadelphia, New Jersey, Greater Boston, and the San Francisco Bay Area make up the rest of the top five, respectively.

Top Life Sciences Markets: Boston, San Francisco Bay, San Diego (businessfacilities.com)

[KJHburg]

this is what is planned for the HubRTP when they get an anchor tenant as it wont be built on spec.   But in due time they will get someone I am sure.

""A 265,000-square-foot building set for the massive Hub RTP development won’t be going vertical until it’s at least 30 percent preleased.

Real estate developer Longfellow is planning an 8-story lab and office building on the corner of Davis Drive and Sancar Way between Interstate 40 and Highway 55. The building, called Via, is fully designed and permitted, but Longfellow wants tenants on board before moving forward with fully financing the project.

Managing Director Greg Capps said the building needs to be somewhere between 30 to 50 percent preleased before they “pull the building out of the ground.” He declined to give an estimated cost for the development.   

Longfellow hasn’t yet signed any preleases for Via but said there has been interest. The company, with offices in Boston and the Triangle, anticipates that some clients in other Longfellow buildings might be interested in expanding into the new space at Hub RTP.

Capps said Longfellow is pursuing regional, national and global companies in an effort to secure a large lease so it can move forward with starting construction.""

Huge research building ready to rise in Hub RTP. There's just one problem - Triangle Business Journal (bizjournals.com)

 

Via Labs at Hub RTP - Longfellow (lfrep.com)

Edited September 22, 2023 by KJHburg

[KJHburg]

Here is a story more about the HubRTP building that all can read.

https://www.connectcre.com/stories/hub-rtp-developer-wants-leases-before-building/?utm_campaign=Connect CRE News%3A

[AlmaPinnix]

https://www.newsobserver.com/news/business/article281112458.html

Pfizer to close down two Triangle facilities

[KJHburg]

VIA Labs is the name for the 8 story lab space Longfellow wants to build at HubRTP hopefully soon.

Research Triangle Park's $1.5B tower, Via Labs is still looking for tenants - Axios Raleigh

[KJHburg]

More renderings of the 250 room Renaissance Hotel at Hub RTP were released. 

""NexPoint Advisors has now purchased the land for the hotel, RTF confirmed. Deed records, including the sale price, were not yet available from Durham County on Wednesday.

The site is located at 4175 Sancar Way off Davis Drive and measures 2.1 acres. Construction is slated to begin on the hotel in the summer of 2024.  When complete, Hub RTP will have 1,200 residential units, 1 million square feet of office and lab space and 50,000 square feet of restaurants and retail.""

New details for Renaissance Hotel in RTP released by Alamo Manhattan - Triangle Business Journal (bizjournals.com)

 

[KJHburg]

In other HubRTP news there are plans for a social district like those in downtown Raleigh and Durham and now in downtown Cary park.

""Now, Research Triangle Park, which local leaders and real estate developers are trying to transform into a live, work, play destination, wants one too.

In a presentation to the Durham County Board of Commissioners this week, the Research Triangle Foundation laid out plans to create a "social district" for the Hub RTP development off Highway 54 near Davis Drive.  

The eastern phase features 44 acres of mixed-use development, including apartment buildings, retail space, food and beverage tenants and a hotel. The social district will be centered around the Horseshoe RTP – a three-building project with office and retail space and a courtyard featuring a stream. The district's hours would be 11 a.m. to 10 p.m.

The first apartment building is slated to begin leasing in the third quarter of 2024, and the first food and beverage tenants are expected to open in the fourth quarter of 2024.""

Hub RTP wants its own social district for alcoholic drinks - Triangle Business Journal (bizjournals.com)

[KJHburg]

A denser RTP might be in the works in the future and this is outside the HubRTP project.

A 15-minute-city? Leaders propose rezoning all of RTP and adding a drinking district (aol.com)

[rancenc]

Follow up article to @KJHburgtwo postings above on the future development in RTP!

https://www.meetingsnet.com/medical-pharma-meetings/new-hotel-coming-nc-s-research-triangle-park

[KJHburg]

RTP may add thousand upon thousands of residential units in the future.  I read IBM is already interested in this program on their property. 

New development could create game-changing residential growth for RTP | WRAL TechWire

[KJHburg]

from Business NC this afternoon:

""National Resilience, a biopharmaceutical manufacturing company, is spending $225 million to expand its operations in Cincinnati and the Research Triangle Park.

Resilience is expanding its drug product capabilities at the company’s Durham facility using a modular design within its segregated expansion space to offer drug product manufacturing for multiple formats.

The site has drug substance and drug product experience in support of gene therapy medicines. It also has 45,000 square feet of space available for additional expansion that will be leveraged for drug product operations.

A new state-of-the-art Bausch & Strobel Isolator filler will be installed to support vials and pre-filled syringes with its barrier isolation technology.""

[rancenc]

New FedEx occupied building comes online in RTP!

https://www.commercialsearch.com/news/fedex-occupied-building-delivered-in-ncs-research-triangle-park/

[KJHburg]

Here is some information about all the biopharma manufacturing just to the east of Raleigh in 5 counties.   Many headquarters and research and development operations in the RTP or Raleigh or Durham and manufacturing to the east.  

North Carolina’s BioPharma Crescent: Fertile For Manufacturing (businessfacilities.com)

BioPharma Crescent

Edited April 6 by KJHburg

[Rufus]

On 4/6/2024 at 1:51 PM, KJHburg said:

Here is some information about all the biopharma manufacturing just to the east of Raleigh in 5 counties.   Many headquarters and research and development operations in the RTP or Raleigh or Durham and manufacturing to the east.  

North Carolina’s BioPharma Crescent: Fertile For Manufacturing (businessfacilities.com)

BioPharma Crescent

This continues to be good news for Eastern NC counties that have been suffering. Honestly, the I-587 Corridor has the potential to be a major player in connecting biopharma with high quality primary care education at ECU and major interstate connections with 95 and 40 which connect to ports and major metros. This is good news as the region continues to shift.