New $1 Billion Life Sciences Campus Coming to Morrisville: The Spark

search triangle garden A massive, 109-acre, mixed-use life sciences campus is to be built in the heart of Morrisville.

Price: nearly a billion dollars.

North Carolina developer Trinity Capital and Miami Beach-based Starwood Capital are leading the project, called Spark LS, at the corner of McCremon Parkway and Airport Boulevard.

View from The Spark

It will include 1.5 million square feet of laboratories and biofabrication space, restaurants, retail, a STEM center for education and recreation, and recreational areas.

“We are excited to continue investing in the Raleigh Life Sciences Market, one of the largest conglomerates in the country,” Mark Keatley, managing director at Starwood Capital, said in a statement.

“The Raleigh Life Sciences Market is benefiting from record levels of public and private sector funding, driving demand for high-quality laboratories and biomanufacturing spaces,” he added. “We believe that Spark’s large campus and its broad offering of amenities in a central location will be attractive to life sciences companies in the market.”

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Developers paid $36.25 million for the property in December — just months after the town of Morrisville voted to redistrict the large plot to attract development.

It is the latest in a series of life sciences-based projects planned for the region. Earlier this week, developers announced a similar project for neighboring suburb Holly Springs — a 200-acre biosciences campus called The Yield.

said Laura Rowley, Ph.D., vice president of economic development for the life sciences at the North Carolina Biotechnology Center.

In 2021 alone, $4 billion in life sciences investments were announced in the state, according to NCBiotech. Notable projects include: FUJIFILM Diosynth, Amgen, and Jaguar Gene Therapy.

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“Timing is a determining factor for many companies, and the availability of facilities designed for life science users provides a meaningful competitive advantage for the region,” Rowley said.

The developers said the Spark will be built in phases, and the first phase is expected to add three buildings over 400,000 square feet.

Hanbury, an architecture and design firm with an office in Raleigh, will provide design advice. Cushman & Wakefield Senior Manager Doug Cook and leasing representative Susanna Nichols are leading the leasing effort.

Starwood Capital and Trinity Capital collectively own 1.6 million square feet across two properties in the RTP sub-market. These include four buildings totaling 650,000 square feet on the 95-acre Park Point campus and the 911,000-square-foot Life Science/Flex portfolio at the Southport Innovation Center located off Aviation Parkway.

(c) NC Biotech Center

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