First Columbia Chosen to Manage & Lease the Albany College of Pharmacy & Health Sciences Newly Acquired Facility

With the recent purchased of 150 New Scotland Avenue in Albany, NY also known as the Medical Life Sciences Building, The Albany College of Pharmacy and Health Sciences recently hired First Columbia LLC as the new property manager and leasing agent for the facility.

The Center for Medical Science building is a five-floor, 154,000-square-foot building offering; Bio Level Safety II and III lab space (BSL2 & BSL3), a vivarium, professional office space, as well as an adjacent parking garage.

“The facility, which is just up the street from the pharmacy college’s campus and Albany Medical Center, was designed for life science research, with more than 60,000 square feet of high-quality biosafety research labs, some of which have not even been used,” said Greg Dewey, Albany College of Pharmacy and Health Sciences president.  “It’s in immaculate shape,” said Dewey.

ACPHS plans to move its new Stack Family Center for Biopharmaceutical Education and Training onto the fourth floor of the facility, expanding its current space by about five times. First Columbia’s Leasing Team will actively market and search for prospects to fill the third and fifth floors as well as unoccupied space with life sciences, biomedical and biopharma corporate partners.

 “We want to bring in tenants that will be partners with the college and that we could see our students having internships with,” Dewey said. “Unlike other corporate research facilities, we’re really looking for synergies among the people that inhabit the building.”

First Columbia is excited to build upon it’s relationship with the Albany College of Pharmacy and Health Sciences and to manage and lease the property in order to accomplish the College’s main objectives.

ACPHS plans to begin renovations on the building this year to add gene therapy labs, mammalian cell labs, teaching wet labs, biopharmaceutical pilot facilities, downstream and fermentation facilities, quality assurance and control facilities, classrooms, study areas, a cafe and a student lounge. Renovations are expected to be complete by early 2023.

Read the full article in the Albany Business Review