The Georgia company that manages the Louisiana Emerging Technology Center on the LSU campus is hoping to convert some 16,000 square feet of underutilized wet lab space on the building’s ground floor into Class A office space and market it to one or more commercial tenants.
The 58,000-square-foot building at 340 East Parker Blvd. was built in 2004 and was part of a statewide effort to offer more wet lab space to biomedical startups. But while the building has attracted some research-related tenants, it is primarily home to LSU tech entities, namely the Stephen Technologies Corporation, an LSU-affiliated nonprofit that does R&D in cybersecurity, and the LSU Office of Innovation and Technology Commercialization.
Two years ago, the university hired Atlanta-based Gateway Facilities and Development Services to manage the property and figure out how to better market it to the private sector. Converting the underutilized wet lab space on the first floor is part of that effort, says Dominick Costanza, who manages the building for Gateway.
“We are trying to reimagine what this space could be,” Costanza says. “It’s really a place where corporate partners of LSU can have a location on campus to work with researchers and faculty members. We want to offer a commercial standard on LSU’s campus where corporate partners can plug in to all the cool stuff going on here.”
The building offers some 10,000 square feet of contiguous ground floor space as well as an additional 6,000-square-foot space. Parking is plentiful, with four spaces for every 1,000 square feet.
At around $26 per square foot, the space will be priced competitively with other Class A office space in the downtown and Acadian-College Drive submarkets. Costantza says the cost of tenant improvements and build-outs would be folded into a standard lease.
The building is adjacent to the Digital Media Center, where Electronic Arts has operated a video game testing facility for several years. Costanza says the idea is to market the area as the “Research District” on the LSU campus.
“It’s a major research university, there is great stuff and it is a place to plug into researchers and also to engage with talent, whether that is students or researchers working on a new product or method,” Costanza says. “It can really serves as a beach head for companies to have a permanent location on campus.”
Jordan Sutton and Ryan Greene of NAI/Latter & Blum are the listing agents for the space.