PRESS RELEASE
Phase 1 includes Science Square Labs, a 370K-SF Life Science Building, and The Grace, a 280-Unit Residential Tower
ATLANTA, GA, April 25, 2024 — Trammell Crow Company (TCC), a global real estate developer, and Georgia Advanced Technology Ventures (GATV), an affiliate of the Georgia Institute of Technology, have completed construction on the first phase of Science Square, a mixed-use development that spans 18 acres and is adjacent to Georgia Tech’s campus in Atlanta, Georgia. The first phase included the delivered of a life science building, known as Science Square Labs, and The Grace, a 14-story residential tower.
The first phase of Science Square includes the delivery of Science Square Labs, a purpose-built 368,258-square-foot building designed to accommodate state-of-the-art lab and clean-room space.
Science Square Labs is the premier mixed-use life sciences district in the Southeast.
Katherine Lynch, TCC Atlanta.
“Science Square Labs is the premier mixed-use life sciences district in the Southeast,” said Katherine Lynch of TCC Atlanta. “The development’s physical connection to and collaboration with Georgia Tech has made Science Square Labs the first building of its kind in Atlanta, creating a state-of-the-art life science facility. We believe that this property, coupled with Atlanta’s talented and deep labor pool, will continue to help the city attract some of the world’s most innovative companies that are looking to grow their business and expand their footprint in the Southeast. We are excited to bring this innovative project to life as we welcome companies from the many world class institutions in the region as well as R&D labs for established companies.”
Tenants in Science Square Labs will have access to base-building systems, which will include 100% fresh air and up to 12 air changes per hour to all lab spaces, and accessible stand-by power, among other key attributes that today’s life sciences tenants require to operate safe and reliable labs on a 24/7 basis. The building, designed by Perkins + Will, is equipped with a 38,000-square-foot solar panel array atop of the parking garage, which delivers 920,840 kW hours annually, as well as 22 EV charging stations with infrastructure to support an additional 158 stations in the future. Science Square Labs also features a Konvekta high-performance energy recovery system, which extracts energy from the building’s exhaust air and returns it to the building’s HVAC system, producing overall energy savings for the building, as well as a reduction in CO2 emissions and tenant energy costs.
Portal Innovations, a life sciences venture development engine, signed a lease last year to become the first tenant, taking just over 33,000 square feet of custom space on the 10th floor of the 13-story building. In addition to planning for custom-built space, TCC has also delivered 33,136 rental square feet of pre-built, fully furnished ‘graduator’ speculative lab/office suites, which are suited for growing life sciences companies. Tenants at the property have access to the property’s world-class amenities, including a fitness center; a conference space and private meeting rooms; a tenant lounge and event space, known as The Commons, featuring a 16,000-square-foot SkyDeck on the fifth floor, complete with places to relax and take in the skyline views.
“The opening of Science Square’s first phase represents one of the most exciting developments to come to Atlanta in recent years,” said Ángel Cabrera, president of Georgia Tech. “The greatest advances in innovation often emerge from dense technological ecosystems, and Science Square provides our city with its first biomedical research district, which will help innovators develop and scale their ideas into marketable solutions. Made possible by a powerful public-private partnership between Georgia Tech and Trammell Crow Company, this mixed-use development adds immense value to Atlanta’s westside and will lead the development of pioneering medical advances with the power to improve and save lives.”
In addition to Science Square Labs, the first phase of the Science Square development also includes The Grace Residences, a 280-unit multifamily tower that started welcoming its first residents in April. Designed by Rule Joy Trammell + Rubio and developed by TCC’s residential subsidiary, High Street Residential, The Grace is comprised of a 14-story tower and a connected six-story mid-rise building. Offering both market-rate and affordable units, the building also offers a curated collection of wellness-inspired amenities, including a bike room; a club room; an outdoor courtyard with fire pits, grilling areas, and a resort-style pool; a state-of-the-art fitness center; a package room; a co-working space; a pet spa; and an indoor/outdoor sky lounge with views of Midtown and Downtown Atlanta.
For more information about leasing opportunities at Science Square Labs, please visit www.ScienceSquareLabs.com or connect with the CBRE team of Eric Ross, Jessica Doyle and Graham Little. More information about current availabilities at The Grace can be found by visiting www.TheGraceResidences.com; inquiries for the three available ground-floor retail spaces can be addressed to Adrienne Crawford and Lily Heimburger of SRS Real Estate Partners.
About Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of December 31, 2023, TCC had $15.8 billion of projects in process and $13.3 billion in its pipeline. It employs 650 professionals in 26 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.
Media Contact
Elise Maguire Ferrara
emaguire@trammellcrow.com
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