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Roll Up Your Sleeves Roundtable

Germantown Life Science Incubator

John A. Korpela, Montgomery County—Department of Economic Development

The Germantown Incubator will be approximately 33,000 square feet, featuring over 10,000 square feet of laboratory space and over 14,000 square feet of office space, exclusive of common areas. The incubator will house 20-25 new and emerging bio and information technology firms employing between 60 and 150 technology workers. Originally, the County's Department of Economic Development (DED) planned to construct a new building, but a commercial building adjacent to the original site just became available and the owner is anxious to lease/sell this asset. While the 67,000 square foot building contains more space than is required for an incubator, Montgomery College is in dire need of classroom space at its Germantown campus and recognizes the value of this building and its acreage.

The immediate availability of the building, coupled with our strong partnership with the College and the funding commitment from the State, means that the County could place tenants in the “Germantown Incubator” as early as Spring 2007 pursuant to the following strategy: the Montgomery College Foundation would lease the Goldenrod building, with an option to buy after five years, then sublease half of the space (approximately 33,000 square feet) to DED for the Germantown Incubator and half to the College for classroom and office space. Both the College and DED would be responsible for their own fit-out. A professional facility assessment was just completed and shows that the building has been well maintained by the current owner.

Our fit-out is estimated at $3.5-3.7 million. There are no plans, to date, but meetings are underway to further discussion. It is anticipated that by October's conference we would have preliminary designs that could incorporate green building elements for this renovation/rehab.

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