Starwood To Partner On $1B Life Sciences Development In North Carolina
A 109-acre life sciences campus planned for Morrisville, North Carolina, underscores just how fast the biotechnology industry is growing in the state's Research Triangle.
Starwood Capital Group and Trinity Capital plan to co-develop the $1B project, called Spark LS, which is expected to include 1.5M SF of lab and biomanufacturing space spread over 12 to 15 buildings, providing tenants and startups with access to the entire process of discovery, development and manufacturing, including lab space and access to nearby universities and talent.
The mixed-use site will feature green space, restaurants, retail and outdoor recreation areas, exemplifying the trend of lab properties incorporating high-end amenities to attract top life sciences firms and talent.
Trinity Capital partner Jeff Sheehan said in a statement it will be the largest development of its kind in the Southeast. Developers said the project is being built on spec and could be completed in three to four years, the Triangle Business Journal reports.
The announcement comes after a big year for biomanufacturing in and around the Research Triangle. The state saw $4B in life sciences investment in 2021, including plans to build a new $2B facility for Fujifilm Diosynth Biotechnologies in Holly Springs that will be the largest end-to-end cell culture production facility in North America.
