The 90,000-sf Market St. property is one of nine buildings in the center with an aggregate of one million sf. The building is currently 50% occupied, "because it is under renovation," Curt Hess, VP of real estate operations at the Science Center, tells GlobeSt.com.
The ARI lease is for 10 years. Christina Nelson of the regional office of The Staubach Co. represented ARI in the negotiations. Neither Nelson nor Hess disclosed the value of the lease, but a source familiar with Science Center leases told GlobeSt.com, on condition of anonymity, that the value is "roughly $1 million." ARI will pick up the tab for the design of its lab space.
ARI is a research and development arm of Aderans Group, a global supplier of hair care and hair restoration products and services and the parent of the Bosley Medical Group of Hair Transplant Clinics. ARI is developing cell-based products to generate new hair tissue.
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