Development will take place on a build-to-suit basis. The centers are targeted to "the life sciences industry, which is rapidly expanding in Central Bucks County," says Stephen M. Spaeder, president of BPG Development, which is responsible for BPG Properties Ltd.'s speculative, build-to-suit and other large-scale projects. "The design and systems of these buildings will be able to easily accommodate pharmaceutical and biotech users as well as engineering and assembly operations." The single-story buildings will be fully air-conditioned and have 18-foot to 24-foot clear ceiling heights.
John C. Shelly, VP of the area office of Trammell Crow Co., is marketing the projects. "The number and sizes of the buildings will depend on demand," he tells GlobeSt.com. "The smallest can be as small as 8,000 sf, and we are in negotiations now for a 56,000-sf building. Discussions are also under way with a group that's looking for 20,000 sf, which would include 15,000 sf of lab space and 5,000 sf of office. Several proposals are out for 12,000 sf."
The properties are being marketed for lease or sale, but Shelly says, "most of the proposals are for condo ownership." The pricing, he says, "will be upwards of $190 per sf to $200 per sf, depending on the overall size and specialty space requirements."
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