RTP, N.C. (October 18, 2016) - Longfellow Real Estate Partners announced that it has signed a lease to relocate Novan, Inc. to a new corporate headquarters and manufacturing facility in Research Triangle Park, quintupling the biotechnology company’s footprint. Novan previously operated another area Longfellow property before making the move to 4105 Hopson Road.
Novan is a late-stage company focused on redefining the standard of care in dermatology through the development and commercialization of innovative therapies using the Company’s nitric oxide platform.
Longfellow purchased the 51,350 square foot Hopson building earlier this year, adding it to a portfolio of Research Triangle properties that is rapidly shaping up as one of the nation’s most ambitious and comprehensive life sciences ecosystems.
“Novan’s expansion is not only great news for the company and the life sciences sector, but validation of Longfellow’s investment in the Research Triangle,” says Jessica Brock, managing partner at Longfellow.
“We believe that life sciences companies will find significant ongoing value in partnering with a firm that understands their needs and is willing to go the distance to help them succeed. Longfellow is literally going the distance with Novan. We’re helping to organically take a successful company from a smaller site to a greatly expanded and enhanced new location.”
Novan President and CEO Nathan Stasko, PhD, observes, “Novan is pleased to work with Longfellow, a company that clearly understands the needs of growing life sciences companies and one that is willing to execute on a shared vision for excellence in this industry.”
Novan’s original 9,000 square foot site is at Longfellow’s Royal Center. Its new Hopson Road location will include around 20,000 square feet of office and 30,000 square feet of laboratory and manufacturing space. To make the transition possible, Longfellow is completely remaking a building originally built by the U.S. government and left vacant for five years. U.S. Senate Richard Burr and Novan Chairman Robert ‘Bob’ Ingram helped cut the ribbon on the new headquarters.
“It takes a special real estate company to facilitate this kind of highly technical, life sciences growth,” says Adam Sichol, managing partner at Longfellow. “Our expertise in life sciences and technology distinguishes us, and we look forward to similar success stories as we expand our portfolio.”
That growing portfolio includes Royal Center and Exchange Place (totaling 180,000 sq ft within Imperial Center Office Park), which Longfellow purchased in 2013. With the Hopson building, Longfellow's life sciences assets in and around Research Triangle Park total 1.2 million square feet.
Longfellow is also working with Duke University to develop the Durham Innovation District (aka Durham.ID), a world-class research and business hub in the Bull City’s bustling downtown. When complete, Durham.ID will offer 1.7 million sq ft of Class A office, lab and retail space amidst an area rich with the urban amenities 21st century knowledge workers crave. In 2014, Longfellow officially opened Durham.ID’s first life sciences offering, the Carmichael Building.
Earlier this year, Longfellow unveiled plans for two new mixed-use buildings focused primarily on office and technology use, but also including retail and restaurants. Located on Durham.ID’s Morris Street between Hunt and Roney in what is currently a large parking lot, the buildings – known as North and South – will reach seven stories, together totaling nearly 350,000 square feet. Renderings are available here.
Longfellow Real Estate Partners serves the unique demands of science and technology companies and focuses on the most innovative cluster locations in the US. The firm acquires and develops facilities in strategic locations and builds long-term relationships with research-centric organizations including life science companies, universities, medical centers and research institutes. The principals of Longfellow have developed more than 3.5 million square feet of laboratory and high tech space over their careers including numerous high profile projects on the East Coast. The Company’s institutional capabilities and entrepreneurial vision enables Longfellow to deliver high quality laboratories and innovation space while satisfying each tenant’s unique requirements.