Leasing Momentum Continues at TCC's Fulton Labs With Belay Diagnostics Taking Science-Ready Lab Suite
The Start-Up Leased a Science-Ready Lab Suite at 1375 West Fulton
August 2, 2023
Trammell Crow Company (TCC), a global commercial real estate developer, signed a lease with Belay Diagnostics at 1375 West Fulton, where the company will lease a 4,000-square-foot science-ready lab suite. The company, which uses a proprietary molecular testing platform, licensed from Johns Hopkins, to revolutionize how brain and spinal cord cancers are detected, will move into the fifth-floor space in September.
“The leasing momentum we have seen at our Fulton Labs campus this year is not only a testament to the world-class product we have developed, but to the evolution and continued growth of Chicago as hub for life science innovation,” said Morgan Baer-Blaska of TCC’s Chicago team. “We are excited that Belay Diagnostics chose Chicago and the science-ready lab suites at 1375 West Fulton as their homebase to conduct incredibly important and life-saving research. The Fulton Labs campus, as well as TCC Chicago’s broader life science portfolio, affords Belay the opportunity to grow and scale their company for the long term.”
1375 West Fulton is part TCC’s 725,000-square-foot Fulton Labs campus in Chicago, which also includes nearby 400 North Aberdeen. TCC unveiled the portfolio’s science-ready lab suites in 2022. The move-in ready private labs span 3,000 to 7,000 square feet and provide advanced research and development laboratory space. Additionally, TCC’s Chicagoland lab portfolio includes Evanston Labs (~175,000 RSF), which is adjacent to Northwestern University, and Hyde Park Labs (~302,000 RSF), which is being developed in partnership with Beacon Capital and powered by the University of Chicago, set to deliver in 2024.
"Belay Diagnostics is developing a liquid biopsy test, Belay Summit, to analyze DNA in the cerebrospinal fluid of people with suspicious brain lesions found on MRI or CT in order to help clinicians more effectively diagnose brain cancers. Our intent is to reduce the number of unnecessary brain biopsies while leading to more expeditious intervention where needed,” said Brian Coe, CEO of Belay Diagnostics. “TCC’s Fulton Labs campus affords us the opportunity to develop our critical research in a space where we can continue to expand our business. This growth mindset is especially important as the Chicago life science ecosystem continues to evolve.”
TCC was represented in the lease transaction by Dan Lyne and Kelsey Scheive of CBRE.
Other tenants in Fulton Labs at 1375 West Fulton include the Chan-Zuckerberg BioHub, Charles River Laboratories, Dimension Inx, Celadyne Technologies, Portal Innovations, Xeris Pharmaceuticals, Vanqua Bio, and Talis Biomedical.
Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of September 30, 2023, TCC had $15.4 billion of projects in process and $14.5 billion in its pipeline. It employs 650 professionals in 28 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.