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UMass Medicine Science Park
Massachusetts Biomedical Corridor
Massachusetts is known throughout the world for being one of the greatest places to conduct life science business because of its concentration of higher educational institutions, hospitals and venture capital firms. With 1348 drug candidates in development, Massachusetts firms have more than 6% of the global pipeline of new drugs being developed.
UMass and the Worcester Biotech Cluster
Since 1970, UMass Medical School and UMass Memorial Healthcare have been at the core of growth of life sciences and biotechnology in the region, with many accolades such as the Nobel Prize laureate for Physiology (Craig C. Mello, PhD); Laskar Award recipient; members of the National Academy of Sciences; members of the Institute of Medicine; Royal Society members; and, hundreds of technology licenses, invention disclosures and licensing and research agreements and U.S. patent applications.
With its twelve colleges and universities, the City of Worcester has proven to be fertile ground to develop its own biotech cluster. Currently, Worcester has three biotech incubator facilities and is ranked #3 in number of biopharmaceutical companies in Massachusetts.
UMass Medicine Science Park
The UMass Medicine Science Park is one of the nation’s leading centers for biotechnology research and production, providing a nurturing environment for companies during all stages of growth. Ranging from start-up incubator space to full-building footprints, the five-building park accommodates a variety of quality office and laboratory tenants within an extraordinary 10-acre campus setting. The nearly 470,000 square foot park is home to dozens of biotechnology companies, as well as several non-profit and academic institutions.
When Kelleher & Sadowsky first became involved with the biotechnology research park, it was owned by Alexandria Real Estate Equities, a national real estate company uniquely focused on serving the life science industry. At the time, Kelleher & Sadowsky represented UMass Memorial Health Care in the search for biotech space that could provide laboratory and clean room environments for one of its thriving divisions, UMass Pathology. After several months of carefully consulting with our team and considering its options, UMass leased approximately 30,000 +- square feet of space at One Innovation Drive in Worcester, a property that was commonly referred to as Biotech Three.
Shortly after this lease transaction, Kelleher & Sadowsky was hired on an exclusive basis to represent the park’s owner, Alexandria Real Estate Equities, in the lease of all vacancy within the biotech park. The K&S team was able to facilitate lease extensions with anchor tenant AbbVie for more than 80,000 square feet, as well as with Microbiotix and the American Red Cross.
In 2013, Alexandria Real Estate Equities sold its three Worcester assets (One Innovation Drive, 377 Plantation Street and 381 Plantation Street) to the University of Massachusetts Medical School (UMass Med) in order to reinvest in Cambridge, MA where they already had a cluster of higher value Class-A CBD assets.
Since then, Kelleher & Sadowsky has remained involved with the UMass Medicine Science Park as leasing agent, with more than 250,000 +- square feet leased to a variety of biomedical and healthcare firms, including AbbVie Bioresearch Center, Inc., Charles River Laboratories, Mustang Bio, Microbiotix, Liberty Biosecurity, Metamark Genetics, Newborn Screening and the GSA Veteran Affairs Clinic.
Today, The UMass Medicine Science Park is currently 100% occupied and the University of Massachusetts Medical School is evaluating options to construct Biotech 6 – a proposed state-of-the-art, 100,000 +- square foot Class A laboratory and life science building located at 395 Plantation Street in Worcester. And, ten plus years later, we are happy to report that our first customer, UMass Pathology, still resides at One Innovation Drive, continuing in its research and development efforts to save lives and rid the world of cancer.