IRA Capital has recently acquired a 237,000-square-foot life science and R&D campus in Columbus, Ohio. The Inland Real Estate Group of Cos. sold the property for $21.5 million according to CommercialEdge data. This campus was built in two phases between 1995 and 2001, with the previous owner purchasing it in 2005 for $47.8 million from Nuveen Real Estate.
The property consists of four interconnected three-story buildings and offers 53,407-square-foot floorplates, five passenger elevators, controlled access, and 1313 car parking spaces at a ratio of 5.5 spots per 1,000 square feet. Sarepta Therapeutics is the anchor tenant of the property with its Gene Therapies Center of Excellence that opened in 2021 and occupies 85,000 square feet. The center is used for research and development of genetic medicines for rare diseases.
The campus is located at 3435 Stelzer Road in the Easton submarket, providing easy access to Interstate 270 and U.S. Route 62 with Downtown Columbus less than 10 miles southwest. Other gene manufacturing facilities in the metro area include Abbott Laboratories and Forge Biologics. Despite a slowdown in venture capital funding for life science assets, core markets still see a robust pipeline of lab space
