Capitalizing on the burgeoning specialty of life sciences real estate, The Discovery Labs is developing a $1 billion coworking office and lab campus in King of Prussia, writes Greg Isaacson for the Commercial Property Executive.
“It’s a really exciting time for investors and developers in the market because of the growth in the market and what we believe is the inelasticity of demand going forward,” said Lisa Strope, director of life sciences and healthcare research at JLL.
The Discovery Labs, which is a new platform from MLP Ventures, is being touted as the largest ecosystem for healthcare, life sciences, and tech-enabled firms in the country.
The 1.6 million-square-foot complex will consist of a series of linked Research & Development buildings.
These will range anywhere from 50,000 to 125,000 square feet, which is substantially bigger than today’s average co-working office venue.
In addition to the high-tech lab and office infrastructure, the complex will also have a world-class conference space, hotel, and restaurant amenities.
Read more about The Discovery Labs’ project at the Commercial Property Executive by clicking here.