Sterling Bay has signed Evozyne, LLC—a Chicago-based, privately held, molecular engineering technology company—to a 30,000-square-foot lease at 2430 N Halsted. Recently acquired as the first asset of Sterling Bay’s life sciences division, The Labs, 2430 N. Halsted was redeveloped to meet today’s standards for state-of-the-art lab space.
“Evozyne moving into 2430 N Halsted is yet another sign that Chicago is an emerging leader in life sciences,” said Andy Gloor, chief executive officer of Sterling Bay. “Sterling Bay is committed to developing leasable, high-quality lab space so that forward-thinking life science companies like Evozyne have a place to grow and can continue to attract talent to the city of Chicago to make lasting scientific advancements.”
Evozyne’s new facility is scheduled to complete construction in early 2021 and is expected to deliver hundreds of new jobs to the local life science community as it continues to grow. CBRE executive vice president David Saad represented Sterling Bay in the transaction. Located in Lincoln Park, 2430 N Halsted is now more than 50 percent leased following this deal and prior transactions with Exicure, Inc. and Vanqua Bio.
Founded by Jeff Aronin in 2019, Evozyne is a portfolio company of Paragon Biosciences that is combining breakthroughs in computational modeling, artificial intelligence and machine learning to create novel, uniquely functioning synthetic proteins with new precision and efficiency.
“Evozyne’s new laboratory facility in Lincoln Park is part of a growing life sciences hub in Chicago that is driving so many meaningful innovations,” said Aronin. “Alongside partners like Sterling Bay that are investing in the city’s future as a leader in life science research, Evozyne is positioned to elevate Chicago’s status by addressing today’s most pressing challenges across a variety of industries including agricultural, biopharmaceutical, industrial, energy and environmental.”
Featuring fully integrated wet lab space for both emerging and established life science companies, 2430 N Halsted is Sterling Bay’s first foray into the life science sector. The company is in active discussions to acquire and develop best-in-class research facilities across the United States.
“The expansion of our operational capacity to 2430 N Halsted is driven by commercial demand for our data-driven molecular engineering technology,” said Aris Theologis, chief business officer of Evozyne. “We have assembled top life science talent from across the country and look forward to expanding our footprint in Chicago—both in Lincoln Park and at Lincoln Yards—in the years to come.”
As its first step in the development of an expansive medical innovation district at Lincoln Yards, Sterling Bay also announced its first on-site life science building. Designed by Gensler, this 300,000-square-foot development will provide Chicago’s rapidly growing life science community with much-needed lab space along the North Branch of the Chicago River.
Building off of the success of Sterling Bay’s leasing momentum at 2430 N Halsted, the new lab space at Lincoln Yards will house industry-leading companies that seek to develop groundbreaking medical solutions and also create a sense of community within their workplace.
Featuring state-of-the-art amenities and conference areas, large outdoor open spaces and seating areas along the Chicago River, the location will foster an environment of growth where tenants can exchange ideas and build relationships to advance their work in a convenient, connected urban research environment.
“This new life sciences building will serve as a cornerstone at Lincoln Yards, creating good jobs, providing vital resources to the city’s growing biomedical research community, and transforming the North Branch Corridor into an inclusive urban environment positioned for future growth,” said 2nd Ward Alderman Brian Hopkins.