BioLabShare, LLC Leases Several Acres From Dormerville Properties, LLC To Build A Bioincubator Mini-campus Within The City of Huntsville, Alabama
BioLabShare, LLC plans to build a bioreseasrch wet lab and a residential complex on several acres it will lease from Dormerville Properties, LLC in Huntsville, Alabama. BioLabShare, LLC focuses on creating a co-working and co-living space for bioentrepreneurs. The company plans to partner with Alabama A&M University and Oakwood University to promote bioresearch with those HBCU institutions.
- Huntsville, AL (1888PressRelease) May 27, 2022 - In May 2022, BioLabShare LLC will lease several acres from Dormerville Properties, LLC to commence the development of a coliving and a coworking bioinnovative facilities for bioentrepreneurs in the startup and emerging biotechnology, life science, and health technologies industries. The leasing agreement between BioLabShare, LLC and Dormerville Properties, LLC will allow the company to create needed bioresearch wet lab space within the emerging and burgeoning biotech hub of Huntsville, Alabama. Dr. Dormer, the CEO of BioLabShare, LLC states, “I believe that creating a separate facility and mini-campus outside of a university campus will allow us to better serve the mission of BioLabShare within the Huntsville area”. He continues, “Our mission is twofold: one to help alleviate the shortage of bioresearch wet lab space within the United States and two, to diversify the field of biotechnology”.
The bioscience complex will consist of two buildings to be built concurrently. The bioresearch wet laboratory consists of a two-story structure and is 11,500SF. The upper floor will consist of bioentrepreneurial space and the lower floor will contain a smart classroom, a training bioresearch lab, a cafe, and an office suite. The 12-unit 3-story apartment complex will be 13,500SF. Both buildings will use modular construction methods to decrease construction costs and increase reproducibility at other locations. The co-living/co-working arrangement is a unique model for bioincubators that will allow bioentrepreneurs to have an affordable residence near their bioworkspace. Such an arrangement is pertinent in a fast-growing city such as Huntsville, where living spaces are at a premium.
BioLabShare's goal is still to build their bio-minicampuses on the grounds of HBCUs. Even so, having a stand-alone Huntsville location will best serve the two HBCUs within the City of Huntsville: Alabama A&M University and Oakwood University. Dr. Dormer mentioned, “BioLabShare, LLC plans to partner with the HBCUs within the City of Huntsville to provide those institution’s faculty, staff, and students bioentrepreneurial opportunity and needed revenue from biotechnology-based intellectual property licensing, milestone payments, and royalties.” BioLabShare will maintain its focus on investing in premier life science and research assets connected to HBCUs across the country.
Huntsville, Alabama is one of the fastest-growing cities in the United States and the largest city within the State of Alabama. It also has the highest per capita ratio of engineers to the population within the country. It has a mature STEM enterprise community that includes biotech, computer tech, space tech, and engineering tech, which is growing exponentially. Huntsville is consistently ranked as one of the best emerging markets for growth and investment in the life sciences and technology sectors. The growth in the life sciences sector is driven principally by the HudsonAlpha Institute for Biotechnology.
“The field of biotechnology, life sciences, and health technology is one of the most important growth industries in the world and has a major impact on improving world health. To participate with BioLabShare in this manner marks a major turning point increasing the participation of diverse communities in contributing to health solutions,” remarked Dr. Caryll Dormer, Co-President of Dormerville Properties, LLC. “My wife, Dr. Aline Dormer, and I are pleased to work with our son, Dr. Anton Dormer, CEO of BioLabShare, LLC, and the firm’s team on such a promising project in a rapidly growing asset class within commercial real estate while increasing the participation of diverse populations in the biosciences…and to do so on part of the Dormer family estate.”
ABOUT BIOLABSHARE BioLabShare, LLC's business model consists of solving one of the most pressing needs in the human healthcare system within the United States, that is, the lack of affordable bioresearch wet lab space and the lack of diversity within the field of biotech/life sciences/health tech. BioLabShare, LLC's mission is to create a bioincubator that consists of a co-working and co-living bioresearch wet lab space while creating opportunities for diversity within the biotech/life science/health tech industry. BioLabShare, LLC's vision will accomplish its mission of creating an innovative bioincubator that consists of a co-working and co-living bioresearch wet lab space while creating opportunity for diversity within the biotech/life science/health tech industry by assembling a dedicated management team and investors. BioLaBShare, creating opportunities, opening doors, and diversifying biotechnology.
ABOUT DORMERVILLE PROPERTIES Dormer Properties, LLC is the real estate holding company of Drs. Aline and Caryll Dormer. The business model consists mostly of purchasing and renting single-family homes with the States of Alabama and Florida and the management of the Dormer family landholdings.
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