Agenda - 03-13-2012 - 4b - Laserfiche WebLink

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yo sophisticated equipment, special refrigeration, clean rooms, wet lab space, areas for human or animal clinical trials, facilities for animal boarding, air quality controls, high power/energy capacity, etc. Life-science companies also seek adaptable space that can fulfill multiple uses (administration, lab space, storage areas, shipping/receiving, etc.), space that represents good value for the rent paid. The location should be accessible to local collaborators which usually means within 30 minutes of one of the area universities and RDU airport. Companies with more than 10 employees cite RTP/Morrisville/Cary as central for employee recruitment and reasonable commuting times. The ability to expand in place is also quite important; most RTP-based companies locate near comparable space. RTP carries prestige value with potential international clients or investors, and companies located near RTP often get an RTP post office box. The space needs of the second market segment of UNC spinoffs are more varied. Few need specialized lab space or access to sophisticated equipment. Most occupy "plain vanilla" office space or flex space; high-quality internet access is expected. Differentiated Supplv The office space or flex space currently occupied by UNC spin-off companies varies by market segment. Class A or Class B office space or high-quality flex space with specialized functions and features serve the life-science segment. Class B or C office space and lower-quality/less specialized flex space serve the IT and clean/green tech segment. Concentrations of high-tech companies are found in downtown Raleigh, downtown Durham and in the RTP, especially around Meridian Parkway and Page Road. Office space and flex space located in the RTP and surrounding areas attracts life-science companies. Some are in three specialized facilities: the Hamner Institute accelerator, Alexandria Real Estate Equities, Inc. facilities and the state-owned First Flight Venture Center.6 The Hamner Institute is a unique model that involves selecting life-science companies with considerable growth potential to come to its campus as startups with the hope that the company will eventually require a new building to be constructed on the campus. Alexandria claims to be the leading real estate firm serving life-science companies. Surveyed companies were very pleased with the services and flexible arrangements but do expect to pay high rent at some point ($30/SF). First Flight is cheap functional space for up to 25 startups that want to be in RTP. 6 Scientific Properties is another developer serving the life-science sector with buildings in Durham although none of the surveyed compaiues are in their facilities currently.