Doubling the University of Maryland BioPark's lab space, the two-phase 4MLK development project will represent more than $320 million in total capital investment
BALTIMORE, Sept. 22, 2022 /PRNewswire/ -- University of Maryland, Baltimore (UMB) and Wexford Science & Technology, LLC, announced today that 4MLK, the newest development project in the University of Maryland BioPark, is slated to move forward, with groundbreaking this fall (2022) and delivering in summer 2024. The 8-story, 250,000-square-foot building, Phase I of a two-phase project representing a $320 million total capital investment, will provide critical wet laboratory space in downtown Baltimore for researchers and companies, flexible lab and office/support space for start-ups, and Class A office space, along with areas for convening and a conference center.
"For UMB, 4MLK is more than a building — it is a symbol of our continued growth and dedication to advancing life sciences and driving economic investment in Baltimore," commented Bruce Jarrell, MD, FACS, President of UMB. "The BioPark is a highly sought-after location for companies seeking commercial wet lab space as well as connection to UMB and the vast resources we offer. We are proud that 4MLK will deliver a high volume of new lab space to Baltimore, helping fill the severe shortage in our region."
Located at the intersection of Martin Luther King, Jr. (MLK) Blvd. and Baltimore St., 4MLK will serve as a gateway between the BioPark, UMB, and the University of Maryland Medical Center, furthering the BioPark's mission of bringing together faculty researchers, entrepreneurs, seasoned life science leaders, and community-focused initiatives and programs for the advancement of human health innovation.
"Since the inception of the UM BioPark, UMB has played a critical role in both the growth of the local life sciences industry and in fulfillment of the vision of the BioPark as a center of gravity and congregation for researchers, corporate innovators, entrepreneurs, and the community," said Jim Berens, Founder and Chairman of Wexford Science & Technology. "4MLK is the result of our strong, long-term partnership with UMB and critical focus on providing much needed world-class research space to private industry. Its advancement underscores the unique opportunity for life sciences companies looking to launch or expand in Baltimore."
"Through the new 4MLK development, the UM BioPark will continue to have a transformational impact on the life sciences, not just in Baltimore but across Maryland," said Maryland Commerce Secretary Mike Gill. "Our state remains a leader in this industry because of forward-thinking, innovative projects like this one that provide much-needed lab space and other critical resources for growing life sciences companies."
"I am pleased to see that this collaboration between UMB and Wexford will bring such a high-quality project to Baltimore," said Brandon M. Scott, Mayor of Baltimore City. "It shows that investing in Baltimore is a wise and impactful move that benefits organizations while also reimagining and revitalizing the city."
4MLK will be the third multi-tenant building developed by Wexford Science & Technology in the UM BioPark, one of 16 Wexford-developed Knowledge Communities across the country. The company remains headquartered in the BioPark where it pioneered this concept.
4MLK's Spaces
160,000 square feet of Class A wet lab-capable space will be available to commercial partners for build-out. 40,000 square feet is planned for flexible lab, office, and lab support facilities specifically designed to meet the rigorous needs of growing life science companies. These flexible lab spaces are paired with full-service amenities such as shared lab equipment, weekly networking and educational programming, and flexible terms. A 16,000-square-foot space for community gathering and events will encourage networking and provide educational programming opportunities for tenants, UMB, and the greater Baltimore community. Along with the building, the project will deliver an adjacent public plaza and an activated streetscape with retail and food and beverage venues along Baltimore Street and MLK Blvd. Phase II will add a second 250,000-square-foot lab/office building. For additional information and leasing inquiries, please visit www.4MLK.com, or contact Gregory Herlong, Vice President and Market Executive, with Wexford Science & Technology at 410-649-5629.
About University of Maryland BioPark The UM BioPark offers high-quality lab and office space solutions for companies of all sizes, especially high-growth companies seeking connection with its academic partner, University of Maryland, Baltimore. The 36 tenants include industry-leading global firms such as Pharmaron, Illumina, BD, and Catalent, next-gen ventures, university spinouts, distinguished research organizations, cutting-edge clinical care, and contemporary workforce training programs. For more information visit www.umbiopark.com.
About Wexford Science & Technology, LLC Wexford Science & Technology, LLC, is a real estate company exclusively focused on partnering with universities, academic medical centers, and research institutions to develop vibrant, mixed-use, amenity-rich Knowledge Communities that are built on a foundation of research, discovery, innovation, entrepreneurial activity, corporate engagement, and community inclusion. These Knowledge Communities create visible outcomes in the form of substantial economic growth, new and diverse jobs, and community transformation. Wexford targets strategic opportunities with top-tier research universities that are seeking to create knowledge-led economic development impact for their campuses, cities, and regions. Presently Wexford has developed sixteen Knowledge Communities across North America. For more information about Wexford, visit www.wexfordscitech.com.
SOURCE University of Maryland BioPark
