NAIOP Tour of Flex-Lab Sells Out in One Email
As a follow up to my previous post on Universal Flex Labs: A New Approach to Lab Space, the NAIOP site tour was a big hit; so much so that the organization suspended their event marketing after a single email. Attendees had a lot of questions about Arrowstreet’s Flex Lab design for Biomed’s 325 Vassar Street.
The central idea of the Universal Flex Lab was born when Biomed saw that venture-capitalized life science companies needed move-in ready lab space so that as soon as they got their financing they could immediately get to work. The funding cycles of these companies, typically only three years, was incompatible with taking eight months to design and build out lab space. Additionally, research needs are currently rapidly changing in these fields; more and more of the equipment is computer-driven and requires less heavy lab infrastructure.
Biomed was willing to invest in flexible lab fit-out and is now reaping the rewards. We have now completed the fit-out for two tenants: Epizyme, which is life science-driven and includes low-level radioactive lab work, and Sun Catalytix, which is developing renewable energy systems.