COLUMBIA, MO-The University of Missouri System has formed an agreement with CarrBaierCrandall and CB Richard Ellis to build up to three research and development buildings at its Discovery Ridge Research Park. Reports say the facilities are expected to cost up to $45 million in total.
The system is the collection of UM colleges here and in the Missouri communities of Kansas City, Rolla and St. Louis. Overall, the system owns a network of 10 research parks and incubators through its Office of Research and Economic Development. Discovery Ridge has tenants that include ABC Laboratories and Research Animal Diagnostic Laboratory.
The Board of Curators for the system recently approved the terms of the development of an initial 80,000-square-foot R&D building on the Discovery Ridge campus. CarrBaierCrandall signed a 55-year ground lease agreement, and will be responsible for project financing, construction and management of the development while paying ground rent to the university. The first facility will reportedly cost up to $20 million. CarrBaierCrandall plans two more buildings near the first facility, but must first prelease the first structure by about 60% just to start the project. The firm has said it hopes to break ground next year.
The multi-tenant building will include lab and office space for businesses focusing on human health, veterinary medicine, nutrition, bioengineering, biology, environmental sciences and engineering. Tenants also will have the unique opportunity to work with MU scientists nearby at the nation’s highest-powered university research reactor, which is experiencing major growth in its production of high-quality radiopharmaceuticals distributed worldwide.
Mike Nichols, VP of the system’s research and economic development, said that the project has attracted some high-tech interest already. “This expanded research park has the potential to transform mid-Missouri’s economy with hundreds of new jobs and all of the local infrastructure those new jobs would induce – from housing and transportation to retail and restaurants,” he said in a statement. Rick Baier with CarrBaierCrandall did not return a call for comment.
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