7|23|2008 Forest City-New East Baltimore Partnership Adds IATRICa as Latest Tenant for The Science + Technology Park at Johns Hopkins
For immediate release: July 23, 2008
Baltimore, MD - The Forest City-New East Baltimore Partnership announced today that IATRICa is the latest tenant to sign on at 855 North Wolfe Street, The John G. Rangos, Sr., Building, the first of five planned life science/office facilities at the Science + Technology Park at Johns Hopkins. The brokerage team of Colliers Pinkard/ROC Realty & Scheer Partners handled the transaction for the Forest City-New East Baltimore Partnership & IATRICa.
"We are excited to welcome IATRICa to the campus," said Scott Levitan, Senior Vice President and Director of Development, Forest City Science + Technology Group."Since 855 North Wolfe Street's dedication and opening in April, we have had a very positive response from the market and IATRICa is the first of a few lease announcements we hope to make over the next several months. We look forward to seeing all of our tenants grow with the Science + Technology Park at Johns Hopkins and foster the development of the New East Side."
IATRICa becomes the fifth tenant along with the Johns Hopkins Institute for Basic Biomedical Sciences, the Howard Hughes Medical Institute, Cangen Biotechnologies and BioMarker Strategies to lease space at the 278,000-square-foot, office/research building, which opened in April. The building provides state-of-the-art facilities for advanced research companies, and offers access to the use of sophisticated research equipment located on the Johns Hopkins Medical Institutions campus.
"IATRICa's emergence as a company from the lab bench to a stand-alone commercial entity is a good example of the strength and value of Johns Hopkins research", said Aris Melissaratos, senior advisor to the president of The Johns Hopkins University. "The Science & Technology Park at Johns Hopkins is a perfect venue to provide continued collaboration and support between the University and commercial enterprises."
The Science + Technology Park at Johns Hopkins is one component of the transformation of the East Baltimore community that is overseen by East Baltimore Development Inc. The project will provide 850 new residential units for new and returning residents in mixed-income housing, as well as offer new life science, office and retail space. Customized technical training programs, provided by East Baltimore Development Inc., will enhance the skills of Baltimore's workforce to meet the requirements of companies locating in the Park. A new K-8 community school and open spaces are also planned.
The work being done in the New East Baltimore community is being noted by the Lincoln Institute of Land Policy as a national model for physically and economically reinvigorating core urban communities. The success of the project is a result of collaboration among the East Baltimore neighborhoods, the State of Maryland, the City of Baltimore, East Baltimore Development Inc., the Annie E. Casey Foundation, the Goldseker Foundation, Forest City–New East Baltimore Partnership and its subdevelopers. Their goal is to rebuild the community and create new opportunities within New East Baltimore.
About IATRICa, Inc.
IATRICa is a privately held biotechnology company engaged in the development of an exclusive new class of biological molecules for prophylaxis and targeted immunotherapy of cancers and infectious diseases. IATRICa's technology platform enables the creation of a diverse spectrum of immunoconjugates that are capable of activating potent targeted immune responses against various tumors or pathogens.
About the Developers
The Science + Technology Park at Johns Hopkins, which is being developed by The Forest City-New East Baltimore Partnership, is part of an ambitious mixed-use development program that is being undertaken in an area of East Baltimore immediately north of the Johns Hopkins Medical Institutions. The first phase of development plans for the 31-acre Phase I area being developed by the Partnership to include the 1.1-million-square-foot Science + Technology Park, over 850 housing units for mixed-income buyers and renters, and a variety of retail services. The Partnership consists of the Forest City Science + Technology Group and Presidential Partners, LLC, a minority-business consortium of Baltimore-based developers. In addition to the development activities being undertaken by the Partnership, the overall East Baltimore redevelopment initiative will generate new job opportunities.
Presidential Partners is a consortium of award-winning developers and builders specializing in mixed-use projects. Presidential Partners includes: Banks Contracting, Lambda Development, Legacy Harrison Enterprises, and The Wilkinson Group. Presidential Partners has earned recognition for top-notch strategic planning and an enviable ability to spot and spark urban revitalization. Combined, they offer nearly a century of industry experience and innovative collaboration (www.presidentialpartnersllc.com).
Forest City Science + Technology Group (www.forestcityscience.net) operates a portfolio of more than two million square feet of life science/technology office space with more than eight million square feet in the planning or development stages. Its properties are in major markets including Boston, Baltimore, Philadelphia, Chicago and Denver.
Forest City Science + Technology Group is a division of Forest City Enterprises, Inc. (NYSE: FCEA) (NYSE: FCEB), a $10.5 billion NYSE-listed national real estate company. The Company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate and land throughout the United States.
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