Latest Wexford Science & Technology Community Breaking Ground Q1 2021
SACRAMENTO, Calif., October 7, 2020– Cushman & Wakefield today announced the firm has been engaged by Wexford Science & Technology, LLC to provide leasing services for Aggie Square at the UC Davis Medical Center in Sacramento, California. This premier 25-acre mixed-use development is situated at the corner of Stockton Boulevard and 2nd Avenue. Cushman & Wakefield has been initially tasked in the leasing efforts for the 500,000 square feet of life sciences, laboratory and technology buildings that make up the commercial core of the project’s first phase.
The University of California Davis selected Baltimore-based Wexford as the developer of Aggie Square based upon its unparalleled experience with creating innovation districts that blend university research, entrepreneurial activity, corporate engagement, and community inclusion.
A ground-breaking is scheduled for the first quarter of 2021, with delivery of the first phase anticipated by late 2023.
“The creation of Aggie Square is a transformational milestone that continues the research growth of the UC Davis health campus and establishes a center of gravity and congregation for university research, start-up activity, corporate innovation, lifelong learning, and community engagement and inclusion,” said Doug Woodruff, Senior Vice President and Western Region Executive, Wexford Science & Technology. “Our leasing efforts will greatly benefit from the addition of Cushman & Wakefield to the team and their high-quality national life science brokerage experience,” Woodruff added.
Hired by Wexford Science & Technology, the Cushman & Wakefield leasing team features a veteran group of specialists led by local office/technology brokers Ron Thomas, Bruce Hohenhaus, and Kris Kalmbach in Sacramento together with Marc Pope and Greg Bisconti who are leading members of the firm’s National Life Sciences Practice Group in Northern and Southern California.
“We are extremely excited to have been selected to team with Wexford Science & Technology and UC Davis on this monumental and game-changing project in Sacramento,” said Ron Thomas, Executive Managing Director. “Wexford’s exceptional experience in creating best-in-class ‘Knowledge Communities’ like Aggie Square around the country will be the catalyst to finally, in scale, bring industry and the university together to serve as an economic engine in our community.”
Greg Bisconti, Executive Managing Director with Cushman & Wakefield’s Life Sciences Practice Group, said, “We are very honored to be part of this special team, and recognize the unique opportunity to help lead the arrival of Sacramento to the country’s leading biotech hubs, and a natural extension of the rapidly expanding Bay Area life sciences market.” He continued, “Aggie Square has all of the cornerstones we generally look for in a biotech hub, including a demonstrated source of STEM talent, robust research and medical programs, and a burgeoning entrepreneurial base—all of which are sponsored by one of California’s premier research universities and one of the nation’s proven life sciences developers.”
Situated on 8.25 acres, Phase 1 of Aggie Square will total approximately 1.2 million square feet and in addition to the 500,000 square feet of science and technology buildings, it will consist of a 250,000-square-foot lifelong learning office and classroom building; 200 housing units, primarily for students; community-serving uses; a parking structure; and public spaces. Each building is anchored by UC Davis programs and configured to co-locate private industry investment, and robust “innovation infrastructure” for startups, as well as community-based partnerships.
Based on analysis from an economic research firm, Aggie Square is projected to add nearly $5 billion to the Sacramento region’s economy each year and support 25,000 ongoing jobs.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services.
Cushman & Wakefield strives to create an environment where our 53,000 people are empowered to do their best work to exceed our clients’ expectations. Diversity, equity and inclusion are key to our strategy to attract, retain and develop top talent, and our network of Employee Resource Groups reflects our people’s commitment to advance our firm’s values, objectives and business practices. The firm is proud to have been named one of America’s Best Employers for Women in 2020 and one of America’s Best Employers for Diversity in 2019 by Forbes. Learn more about our awards and recognition.
About Wexford Science & Technology
Wexford Science & Technology, LLC, is a real estate company exclusively focused on partnering with universities, academic medical centers and research companies to develop vibrant, mixed-use communities. Wexford’s communities are built on a foundation of discovery, innovation and entrepreneurial activity that creates visible outcomes in the form of substantial economic growth, new and diverse jobs, and community transformation. Wexford targets strategic opportunities with top-tier research universities that are directly on or contiguous to dense, urban campuses. Presently Wexford has developed 15 Knowledge Communities across the United States.