BUSINESS REPORT: Virginia – HDL Expands Offices, Labs At VA BioTechnology Research Park
By Jonathan Sanders
From the July/August 2013 issue
With its nearly 650 employees into Phase I of its headquarters expansion in Virginia BioTechnology Research Park in Richmond, VA, Health Diagnostic Laboratory, Inc. (HDL) has begun construction on Phase II of the 283,000-square-foot complex. Phase II will be a mirror image of Phase I, and when completed in April 2014 will contain 95,000 additional square feet of office and wet laboratory space.
“It is our mission to prevent and reverse heart disease and related diseases, and this real estate expansion is allowing us to do so as a team in a values-based, innovative environment in downtown Richmond,” said Tonya Mallory, HDL, Inc.’s CEO and president.
When complete, HDL, Inc.’s offices and laboratories will encompass 283,000 square feet (approximately five football fields) and host an additional 400 employees. Features of the headquarters include a rooftop park and green space, a 24/7 gym for employees, and the building’s atrium, which will eventually contain spiral slides connecting the sixth, fifth and fourth floors. The real estate is valued at roughly $80 million, and with equipment costs HDL, Inc.’s total investment in the biotech park will reach more than $100 million.
“Few believed that the research park could grow to become such an economic powerhouse when it was first launched 20 years ago. It has put Virginia on the map in biotechnology and the life sciences, and is helping us to compete globally to attract and grow this important sector of our region’s economy,” said Robert T. Skunda, President and CEO of the Virginia BioTechnology Research Park.
The Lingerfelt Companies, a Richmond-based developer, has been involved with the project since its inception. “Since partnering with HDL in 2009, it has been a fast-paced development cycle and we are pleased to assist HDL in its expansion,” Lingerfelt Companies Principal Ryan Lingerfelt said. “This project is a prime example of how a growing healthcare provider, coupled with resources and development talents, comes together to benefit our community and many others worldwide.”
The Virginia BioTechnology Research Park is located in the center of the nation’s East Coast pharmaceutical and biotechnology corridor. The Park is home to 67 life science companies, research institutes, state/federal laboratories and is adjacent to Virginia Commonwealth University, a “Top 100” life sciences research center.
A nationally acclaimed logistics development company is preparing to unveil a master-planned park which will be able to accommodate more than 4 million square feet of industrial space. This park will also lay adjacent to one the country’s most critical intermodal terminals.
The region has been recognized as one of the fastest-growing economies in the nation and is just a short drive away from major mid-Atlantic cities including New York City, Philadelphia, Baltimore, and Washington D.C.