Ancora L&G Secures First US Science and Technology Projects
Sites in Atlanta and Providence will deliver over 200,000 square feet of lab, science and technology space
By Greg Cornfield October 27, 2022 3:05 pm
reprints
Newly formed joint venture Ancora L&G announced Wednesday that it secured its first two life sciences projects in the United States, for more than 200,000 square feet in Atlanta and Providence, R.I.
Earlier this year, Legal & General Capital (LGC) linked up with development firm Ancora to form Ancora L&G, a $4 billion platform dedicated to capitalizing on life sciences and technology growth across the country over the next five years.
The partnership’s first acquisition was 387 Technology Circle NW, a 128,000-square-foot, Class A life sciences lab building in the Science Square Innovation District adjacent to the Georgia Institute of Technology’s campus in Atlanta. The development is fully leased to four tenants: Georgia Tech, CardioMEMS, Kemira Chemicals and Vero Biotech.
“The development in Georgia is an exemplar of the types of projects we will look to invest in, located in areas of significant growth potential with high-quality anchor institutions as key stakeholders in each project,” LGC’s Wes Erlam said in a statement.
Ancora L&G was also selected as the developer of a public health laboratory in Providence. An 80,000-square-foot lab, funded by the U.S. Centers for Disease Control, will anchor the project. Brown University has signed a pre-lease for 20,000 square feet of private laboratory space.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
