News | 3 min read
Activation Capital announces plans for development of Innovation Center
June 5, 2023
News | 3 min read
June 5, 2023
RICHMOND, VIRGINIA, June 2, 2023 – Activation Capital, an innovation ecosystem development organization, announced plans to develop the 102,000-square foot Innovation Center in the Bio+Tech Park in Richmond, Virginia.
The 34-acre Bio+Tech Park is a commercial life sciences hub in downtown Richmond adjacent to the VCU Medical Center at Virginia Commonwealth University and is home to over 70 companies, research institutes, and state/federal laboratories. Activation Capital recently announced Virginia Gov. Glenn Youngkin awarded Activation Capital a $15 million portion of a total $66.7 million in grant funding for life sciences projects in the Commonwealth of Virginia.
Amy J. Broderick and Kate Hosko of Cushman & Wakefield | Thalhimer, along with David Thomann of Cushman & Wakefield’s Life Science Group in Boston, MA, have been awarded the exclusive leasing representation for the Innovation Center. Planned for delivery in late 2025, the center will feature approximately 35,000+ square feet of trophy class lab and creative office space for a lead tenant. Approximately 45,000 sf will be dedicated to an incubator operated by Activation Capital and will include shared labs, private offices, and community gathering spaces. The new building will be located at the corner of 8th Street and Jackson Street.
“As part of our strategic plan to create a thriving ecosystem, Activation Capital will build an Innovation Center that anchors downtown Richmond’s innovation hub and serves as a magnet for innovators to build and grow deep tech companies. Once complete, the Innovation Center will catalyze downtown redevelopment around wealth-creating jobs, boost entrepreneurial growth, strengthen the region’s end-to-end pharmaceutical manufacturing cluster, and act as a platform for upskilling community members with STEM programming,” said Chandra Briggman, President and CEO of Activation Capital
“In addition to their strong commercial real estate brokerage experience and national life science expertise, Cushman & Wakefield | Thalhimer was selected due to their alignment with Activation Capital’s values of agility, collaboration, entrepreneurial thinking, future-focus, impact, and inclusion,” said Kipton Currier, Vice President of Operations at Activation Capital. “The teams selected for the Innovation Center understand our commitment to the community, our excellence in execution focus, and our dedication to creating a nationally renowned life science innovation center for the benefit of future generations.”
About Activation Capital
Activation Capital is a leading innovation ecosystem development organization providing social, knowledge, and financial capital to clusters, entrepreneur support organizations, and entrepreneurs – accelerating their progress through development and maturation. Activation Capital, an independent authority of the Commonwealth of Virginia, is on a mission to grow life sciences and other advanced technology innovation by promoting scientific research, commercialization, and ecosystem development that attracts and creates 21st-century jobs and companies. It operates the 34-acre Virginia Bio+Tech Park – the hub of life science and technology innovations in Central Virginia, oversees the Cluster Accelerator for Advanced Pharmaceutical R&D and Manufacturing, and supports the development and expansion of the region’s start-up ecosystem. For more information, visit www.activation.capital.