Multi-tenant, flexible wet lab space will add much-needed capacity for life sciences research and help to attract new commercial tenants.
PROVIDENCE, R.I. [Wexford Science & Technology and Brown University] — To meet the growing demand for wet laboratory space in Providence, driven by an expanding array of life sciences activity in the city’s Innovation and Design District, Wexford Science & Technology, LLC, will transform 62,000 square feet at its Point 225 building into highly sought-after wet lab-ready research space.
Brown University will lease approximately 31,000 square feet of the new lab space, with the remainder available for lease by commercial life sciences companies. The space is expected to deliver in late 2023. John Luipold, Brown’s vice president for real estate and strategic initiatives, said the lease marks the largest lease commitment for new space in Providence in 2022.
“For Brown, this new investment is an important demonstration of our commitment to the city and to ever greater innovation activity in the Jewelry District,” Luipold said. “Providence has a growing presence in the life sciences, and the ability to locate Brown laboratory space in close proximity to commercial ventures focused on health and medicine comes with significant promise for increased economic activity and the kinds of research breakthroughs that can result from collaboration and partnership.”
Wexford will transform the sixth and seventh floors of its building, located at 225 Dyer St., into lab-ready space, with Brown leasing the sixth floor for a period of 10 years. The Point 225 building’s other floors are already home to Brown’s School of Professional Studies, the University’s Division of Pre-College and Undergraduate Programs, Johnson & Johnson offices, and dozens of companies located in CIC Providence.