PHILADELPHIA, May 12, 2020 /PRNewswire/ -- The Barer
Institute Inc. a subsidiary of Rafael Holdings, Inc. (NYSE: RFL)
and University Place Associates (UPA) have announced that The Barer
Institute has signed a non-binding Letter of Intent to lease Growth
Pod space at 3.0 University Place in University City.
UPA's life science growth pods, located on the 5th floor of 3.0
University Place, provide tenants with a flexible, turn-key, and
dedicated space to scale. Only ten growth pods are available at 3.0
University Place. The building is expected to be ready for
occupancy during the third quarter of 2021 and will bring
much-needed lab space capacity to the Philadelphia region and provide the essential
infrastructure to support biomedical research with world-class
sustainability features and wellness amenities.
"The Barer Institute is guided by a top-flight scientific
advisory board," stated Howard
Jonas, Chairman and CEO of Rafael Holdings and Chairman of
The Barer Institute. "With its input, our researchers identify and
evaluate promising preclinical treatments for certain cancers. The
Barer Institute's streamlined and innovative approach is well
suited for collaborative work environments, and that's what drew us
to 3.0 University Place. The opportunity to work in close proximity
to The Wistar Institute, an international leader in biomedical
research, offers our teams the opportunity to collaborate more
effectively with Wistar."
"We're delighted that The Barer Institute has committed to be
part of the Growth Pod space at 3.0 University Place," commented
Heather Steinman, Ph.D., MBA,
Wistar's Vice President of Business Development and Head of Tech
Transfer. "Wistar is about moving science forward and we could not
do that without collaborations between dynamic, influential
organizations that will infuse and strengthen the research
innovation community right here in University City."
"When Rafael Holdings launched The Barer Institute, we
recognized that collaborative development would be a critical part
of our approach," said Ari Landon,
Ph.D., Director of Innovation at The Barer Institute. "UPA's Growth
Pod space provides us with the flexibility to grow while working
closely with The Wistar Institute and their Discovery Center at 3.0
University Place."
"We are thrilled to have The Barer Institute as our first Growth
Pod lease at 3.0 University Place. We believe that our development
project meets the needs as a company travels through its
life-cycle," said Anthony Maher,
President of University Place Associates. "2,500-7,500sf of
flexible, dedicated, and turn-key space provides companies like The
Barer Institute the ability to focus on what they do
best….innovation, science, and cutting edge R&D."
"Not only will 3.0 University Place provide a very robust lab
infrastructure for tenants, but we are very proud that our building
will lead the way forward with world-class sustainability and
wellness features that will drive productivity and provide a
healthy and ultra-safe working environment," said Marelisa Gibson, Head of Sustainability of
University Place Associates. "We spend more than 90 percent of our
lives indoors, and in 3.0 University Place, we have taken the
necessary steps to enhance the overall well-being of our tenants by
providing exceptional Indoor Air Quality,
View® smart windows that tint automatically, and an
impressive 14,000 SF green roof on the 3rd floor."
University Place Associates has committed a single floor of 3.0
University Place to lab and office space for Growth Pods. The floor
totals 29,500 square feet and each pod will have lab benches, a
dedicated equipment room, as well as functional workspaces with
desks. This will enable biomedical and life science emerging
companies flexible space as they navigate their growth.
For more information about University Place Associates and 3.0
University Place, visit https://www.30universityplace.com/. Press
Kit can be found here:
https://www.30universityplace.com/press-kit
For more information on The Barer Institute,
visit https://rafaelholdings.com/
About University Place Associates:
University Place
Associates [UPA] is a leading sustainable and socially conscious
commercial real estate development firm. Based and focused in the
University City area of Philadelphia, UPA is dedicated to creating
'best in class' and state-of-the-art healthy commercial
developments at the highest standard of sustainability.
UPA has always been a community-based developer that engages
with the surrounding residential and commercial communities,
startup businesses, schools, and universities. For more
information, please visit www.upaphila.com and follow
@UPAphila on Twitter and UniversityPlaceAssociates on Facebook.
About 3.0 University Place:
3.0 University Place is a
250,000+ sq ft Life Sciences enabled commercial lab/office trophy
building. It is a flagship for social and environmental
responsibility, purpose-built for those that demand both from their
workplace. Currently, 3.0 is on track to break ground late second
quarter. This location will serve as an expansion of an innovation
corridor that is designated as a Keystone Opportunity Zone (KOZ)
and a Qualified Opportunity Zone (QOZ). Future tenants in the
corridor will benefit from these tax incentives, as well as its
close proximity to the 40th & Market transit hub, the
University of Pennsylvania, and Drexel
University.
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SOURCE Rafael Holdings, Inc.; University Place Associates