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Expansion at Innovation Park
“Innovation Park is reaching a critical mass,” says Dan Leri, director of Innovation Park and the Research Commercialization Office. “We are seeing continuing success at helping companies transfer the knowledge within the University to the marketplace and fostering economic development. The Park is the place where collaboration between the University and private sector companies can grow.” The building at 330 Innovation Boulevard will be completed by November. This 64,000 square-foot, three-story facility already has more than 50 percent of its tenants in place. Construction for a second building at 329 Innovation Boulevard, with 84,000 square feet, began in October and is expected to be completed by late next year. “We are pleased that current tenants continue to flourish at Innovation Park and drive this expansion,” said Jack Norris CEO of CB Richard Ellis/Pittsburgh. “Innovation Park is a dynamic location providing highly efficient buildings facilitating tenant productivity and growth.” Affiliates of Innovation Capital Partners are developing the new buildings, with CB Richard Ellis/Pittsburgh providing development management, property management, and leasing services. Several of the 330 building lessees are current Park tenants in need of expanded space. These include Gateway Management Company, which provides business advisory, accounting and legal services; Alpha Source Universities, a full-service procurement consulting company that uses a unique business model and proprietary software to host real-time competitive bidding opportunities for goods and services; McNees, Wallace, and Nurick, a law firm headquartered in Harrisburg; Adapco, a global enterprise company providing advanced computationally-based engineering solutions; and Sinoceramics, an advanced ceramics, crystal and optical components manufacturer that is moving from the business incubator. At Innovation Park, multiple options are available for companies to meet the ever-changing dynamics of business including: a business incubator for start up companies with “plug and play” space for internet companies; custom-built single-tenant buildings; redundant power and fiber optic links; conference facilities and accommodations for travelers at The Penn Stater Conference Center Hotel; and an on-site child care facility. Innovation Park provides tenants with access to Penn State’s scientific, engineering, technology and business resources. Turn ideas into products with support from Penn State’s Technology Transfer Organization including the Industrial Research Office, Intellectual Property Office, and the Research Commercialization Office – all located at Innovation Park. Penn State is a leader in working with industry, accumulating $93 million of industry-sponsored research in FY2006. For more information: |
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2002, The Pennsylvania State University |
The construction of two new buildings is expanding Innovation Park at Penn State by 148,000 additional square feet and is supporting the expansion of current companies and the region’s economy.