IRA Capital has recently acquired a 237,000-square-foot life science and R&D campus in Columbus, Ohio for $21.5 million. The property was previously owned by Inland Real Estate Group of Cos. and came online in two phases between 1995 and 2001. The previous owner purchased the facility in 2005 for $47.8 million from Nuveen Real Estate.
The campus consists of four interconnected three-story buildings, offering 53,407-square-foot floorplates, five passenger elevators, controlled access, and 1313 car parking spaces at a ratio of 5.5 spots per 1,000 square feet. Sarepta Therapeutics, a biopharmaceutical company, is the anchor tenant of the property with its Gene Therapies Center of Excellence that opened in 2021 and occupies 85,000 square feet. The center is used for research and development of genetic medicines for rare diseases.
Located at 3435 Stelzer Road in the Easton submarket, the campus provides easy access to Interstate 270 and U.S. Route 62 with Downtown Columbus less than ten miles southwest. Other gene manufacturing facilities in the metro area include Abbott Laboratories and Forge Biologics. Despite a slowdown in venture capital funding for life science assets, core markets still see a robust pipeline of lab space due to high demand from biotech companies looking to expand their operations or establish new research facilities
