Introducing Spark LS, a landmark advanced life science campus in Morrisville, developed by Trinity Capital
January 4, 2022
Starwood Capital Group and Trinity Capital Advisors announced plans to develop Spark LS, a 109-acre advanced life science campus in Morrisville, NC in close proximity to the Research Triangle Park in the Raleigh-Durham MSA. It will feature approximately 1.5 million square feet of cutting-edge lab and bio-manufacturing space and is designed to empower all phases of life science advancement from discovery to delivery. In addition, Spark’s retail, restaurants, parks and recreation areas will ensure that employees and visitors have every convenience at their fingertips.
“We’re excited to continue investing in the Raleigh life science market, one of the top clusters in the country,” said Mark Keatley, managing director at Starwood Capital. “The Raleigh life science market benefits from record levels of public and private sector funding, which is driving increasing demand for high quality lab and bio-manufacturing space. We believe Spark’s large campus setting and expansive amenity offering in a centralized location will be appealing to life science companies in the market.”
“Spark will be one of the premier life science campuses in the country and the largest development of its kind in the Southeast,” said Jeff Sheehan, Partner at Trinity Capital. “The scale of the campus allows us to offer highly-customizable real estate solutions for all phases of life science advancement. And, it further establishes the Research Triangle as a major life science hub, positioning leading-edge companies in close proximity to world-renowned research institutions and allowing them to easily tap into the region’s deep talent pool.”
Upon full completion, Spark will represent nearly $1 billion in total investment and include 12-15 buildings, connected green spaces, restaurants, retail, a STEM Education and Amenity Center, and several multi-use outdoor recreation areas. Starwood Capital and Trinity Capital have engaged Hanbury, an architecture and design firm specializing in life science, to advise on the design for the campus. Spark is located in the heart of the Research Triangle Park submarket at McCrimmon Parkway and Airport Boulevard, one mile from I-40, less than four miles from Raleigh-Durham Airport, and five miles from Apple’s new RTP campus.
Leasing efforts for Spark are being lead by Cushman & Wakefield’s Senior Director, Doug Cook and Leasing Representative, Suzanna Nichols.
Starwood Capital and Trinity Capital have acquired or developed 5.1 million square feet of office and life science space totaling $1.1 billion of investment since 2015. Currently, they collec-tively own 1.6 million square feet across two properties in the RTP submarket that are or could be converted to life science space. These include four buildings totaling 650,000 square feet of space at their 95-acre Park Point campus and a 911,000 square foot life science/flex portfolio at Southport Innovation Center located off Aviation Parkway.