Biotech 8
Realized Biotech 8 is a 271,580 square-foot medical/biomedical office facility located in the CBD submarket of Richmond, VA developed by Lingerfelt’s predecessor. The development project included the old Biotech 3 building and associated land, which was demolished to make way for Phase I of the project, which delivered in late 2012. Phase II was constructed adjacent to Phase I and delivered in late 2014. The building was a build-to-suit pre-leased substantially by Health Diagnostic Laboratory (now True Health Diagnostics), among others.
Investment Info
- Status: Realized
- Market: Richmond, VA
- Property Type:
Medical/Life-Science - Lingerfelt Role: Developer
- Strategy: Build-to-Suit, Development
- Sub-Strategy: Redevelopment
Investment Metrics
- Entry Date: November 21, 2006
- Purchase Price: Land Contribution
- Total Capitalization: $74,200,000
- Exit Date: November 09, 2017
- Exit Price: $92,000,000
