SARA Investment Real Estate has announced plans for a new laboratory facility, Velocity Station, strategically located at 6411 Odana Road. The facility, a response to the increasing demand for lab spaces in the Madison area, is expected to transform the local landscape and foster a vibrant environment for scientific work.
Designed by renowned EUA Architects, Velocity Station aims to meet the needs of local businesses, with amenities ranging from individual labs to collaborative work spaces. The new laboratory, spanning a vast 159,000 square feet, is set to host one to six companies each having at least 25,000 square feet to support future growth.
The facility, which will replace the demolished Clock Tower office park, will feature first-class amenities and is slotted to be operational by the fourth quarter of the year. An on-site café and fitness center are promised in the pipeline to ensure the well-being of the employees. Plans are afoot to secure a LEED certification, emphasizing SARA’s commitment to environmental sustainability.
In terms of marketing, SARA has partnered with real estate giant, Cushman & Wakefield | BOERKE to target potential investors and tenants. The project is still in its early phases and the city permit applications are to be submitted once a primary tenant is secured. The design will be contingent on the needs of the primary tenant, hence the importance of securing one.
EUA will handle the architectural workings while Ideal Builders are responsible for the construction phase. The lab will be equipped with advanced features like sinks and fume hoods, meeting the requirements of biology-based enterprises. Structural integrity and safety norms are paramount in the construction process, and transparency will be maintained at all stages.
The dearth of commercial spaces has been a major roadblock for biology-centered firms’ innovation efforts. Velocity Station, through its state-of-the-art facilities, is expected to bridge this gap. Moreover, Element Labs, a large facility by the University Research Park, is also planning to accommodate nearly 20 firms. These ventures reveal the rising significance of expanding lab spaces, particularly in spaces like the Madison-Milwaukee belt which is resonating with potential for the fast-growing personalized medicine sector.
Fostering a thriving biotech sector, through these projects not only benefits the city economically, but are crucial in advancing healthcare solutions. Lisa Johnson, BioForward’s CEO, underscores the urgency of matching lab spaces to the surging demands, as the city strives to become a global tech hub in 10 years. The intent is not only to fuel growth, but to forge strategic alliances and public-private partnerships to truly propel Madison into the global tech arena.
