TCC Signs First Tenant and Celebrates Topping Out at Science Square Labs in Atlanta
Portal Innovations Leased 33,000 SF at Science Square Labs, Opening Q1 2024
August 21, 2023
Trammell Crow Company (TCC), a global real estate developer, and partner Georgia Advanced Technology Ventures (GATV), an affiliate of the Georgia Institute of Technology, have topped out Science Square Labs, part of the first phase of the Science Square mixed-use development in Atlanta, Georgia, adjacent to Georgia Tech’s campus. Science Square is an 18-acre master-planned district offering premier commercial lab/R&D and residential development. Portal Innovations, a life sciences venture development engine, has signed the first lease at Science Square Labs, taking 33,136 square feet on the 10th floor of the 13-story building, where they will help grow life sciences startups by providing seed capital, fully equipped lab space, as well as management support.
“Portal Innovations has been a trusted partner to TCC throughout the development process, as they simultaneously worked to hire a team and provided guidance on building a local ecosystem. They are actively engaged in the Atlanta life science community, which is the fourth market where they will establish a biotech and medtech ecosystem, further advancing Atlanta’s strong position in the life science industry,” shared Katherine Lynch, a Principal with TCC Atlanta. “Portal’s space at Science Square Labs will include wet and dry labs, private offices, and robust collaborative space, including an outdoor terrace. We are pleased to officially welcome them to the Science Square community and to celebrate this exciting construction milestone together.”
Science Square Labs is a purpose-built 368,258-square-foot building designed to accommodate state-of-the-art lab and clean-room space. The building will also feature two food & beverage spaces and an impressive tenant amenity collection, including a fitness center, an all-hands conference space, and an indoor/outdoor tenant lounge with a catering kitchen, which can be reserved for special events and opens to an outdoor programmed amenity deck, complete with skyline views. TCC is also delivering six pre-built, fully furnished ‘graduator’ speculative lab/office suites for growing life sciences companies at Science Square Labs. The project team is seeking LEED Gold and WELL Certifications and the building will feature a 38,000-square-foot solar panel array atop of the parking garage, installed by Cherry Street Energy.
CBRE’s Eric Ross represented the landlord in the lease negotiations, while the tenant was represented by Dan Lyne and James Otto, also of CBRE.
The first phase of Science Square, which includes the lab facility designed by Perkins & Will, as well as a 280-unit residential building designed by RJT+R, is being constructed by Brasfield & Gorrie and is slated to deliver in the first quarter of 2024.
As part of the Science Square Labs development, TCC is providing a $500,000 Community Educational Grant to support job training, education and outreach to help neighboring community members develop the skills they need to participate in the life sciences industry.
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.