Browning and 16 Tech Announce First New Building in 16 Tech Fully Leased with Multi-industry Tenant Mix

INDIANAPOLIS (October 9, 2019) —Browning and 16 Tech Community Corporation announced today the anchor building for the 16 Tech Innovation District, a 120,000-square-foot, $30 million research and office facility, is fully leased.

The building will be the headquarters for the Indiana Biosciences Research Institute (IBRI) in addition to the headquarters for the Central Indiana Corporate Partnership (CICP), including its talent and industry initiatives, and Indiana University School of Medicine researchers focused on industry collaborations and commercialization.

16 Tech, a 60-acre innovation district on the near west side of Indianapolis, is purposefully designed to ignite collaboration among innovators and entrepreneurs in life sciences, tech, advanced manufacturing and engineering in an urban live-work-play-learn environment. Construction on the anchor facility is expected to begin in late 2018 and will be followed by Browning’s rehabilitation of the former Citizens Energy Group building with high-bay garage, construction of a second innovation building, and construction of apartments.

“The first 16 Tech tenants are true pioneers for the innovation district,” said Bob Coy, president and CEO of 16 Tech Community Corporation, the nonprofit operating entity of the 16 Tech Innovation District. “Building One will be home to researchers, entrepreneurs and advanced industry leaders in tech, life sciences, advanced manufacturing, renewable energy, ag-bioscience and talent development. These tenants represent the ideal cross-section of industry expertise and entrepreneurial energy that will drive innovation in Indiana’s economy.”

Building One will house the IBRI in 67,699 square feet of space on the first three floors and include office, lab and open work spaces. The IBRI is a leading independent, industry-inspired applied research institute focused on the discovery and development of innovative solutions to improve health, targeting diabetes, metabolic disease and poor nutrition.

“We look forward to not only continuing and expanding our current research and translational activities to help improve the health of Hoosiers and millions suffering around the world from chronic diseases, such as diabetes, but our anchor space in the new building in 16 Tech enables the IBRI to serve as the facilitator and accelerator for life sciences startups,” said Dr. Rainer Fischer, the IBRI’s chief executive officer and chief scientific and innovation officer. “With more than triple our current space, we’ll be able to expedite our growth and better retain and attract new talent for the IBRI and for our existing and new industry and academic partners.”

CICP and its affiliate organizations – BioCrossroads, Conexus Indiana, TechPoint, Energy Systems Network, AgriNovus Indiana and Ascend Indiana – will move its headquarters and approximately 80 employees to 30,446 square feet on the top two floors of the five-story building.

“At 16 Tech, CICP has a unique opportunity to be a part of, and sit in the middle of, our talent and innovation district– putting our initiatives and employees near companies that we already collaborate with, ones that we hope to engage with in the future, and others that are yet to be created,” said David Johnson, president and CEO of CICP.

Indiana University School of Medicine will occupy approximately 12,000 square feet, where it will house part of its newly established Indiana Center for Regenerative Medicine; a molecular therapeutics program that is part of the IU Precision Health Initiative; and a technology incubator that is a partnership with IU Health and will support faculty entrepreneurs working on the development of drugs, devices and health-related information technology with the goal of bringing their discoveries to market.

Building One will have a café and community space open to the public.

Browning’s plans for additional construction include:

  • Renovation of office and high-bay garage once occupied by Citizens Energy Group;
  • A new Class A office building including food, beverage and retail space; and
  • A new multi-family apartment complex with approximately 250 units.

Browning’s investment in these first four buildings tops $120 million.

“16 Tech offers a dense, vibrant mixed-use environment that drives collaboration,” said Browning CEO John Hirschman. “The buildings that Browning is developing allow us to apply the experience and expertise we’ve gained over four decades of creating places that help to drive growth and innovation.”

ORIGINAL SOURCE
2018-11-08T17:35:25+00:00October 19th, 2018|