Upon completion, Building III will house classrooms, as well as space for wet labs, computer labs, meeting areas and a new 1,000-sf campus bookstore. The non-academic space will be leased out to both federal and private science and technology groups wishing to work in partnership with the university. "The immediate area surrounding the campus contains the highest concentration of biotechnology companies in the nation, 60% of Maryland's high technology companies, and 19 federal agencies," University President William R. Brody notes at the groundbreaking ceremony. "We have a unique opportunity to create the catalyst for development of a nationally recognized collaboration along the lines of Silicon Valley, Rte. 128 or Research Triangle." Building III is scheduled to be up and running next summer.