Medrad Inc. to Create 125,000-s.f. Building in Marshall Township of Pennsylvania

    Nov. 22, 2005
    High-tech company to build one of first buldings in Tech 21 Research Park

    Source via NewsEdge Corporation

    Nov. 16--After being on the drawing board since 1999, Tech 21 Research Park, a $200 million mixed-use Marshall development, is about to get its first tenant.

    Medrad Inc., one of the Pittsburgh area's hottest growth companies, is poised to announce it will occupy a 125,000-square-foot building in the complex. The medical devices company will make its formal announcement tomorrow at its Indianola headquarters.

    Representatives from Tech 21 Partners LP, the developer of the complex, had informed Marshall officials in July that a high-tech company could become Tech 21's first tenant, bringing up to 1,000 jobs to the area. But only now is the mystery tenant being unveiled.

    Medrad's new facility will be one of the first buildings to be constructed in the complex. When the development is completed, which Tech 21 partners say will take seven to 10 years, there will be 16 office buildings totaling 1.9 million square feet. In a traditional research park -- an architecturally sterile campus of office buildings, parking lots and little else -- that would be the complete story. But Tech 21, at Brush Creek and Warrendale-Bayne roads, will deviate from that model by including a hotel, two restaurants and housing on its 223 acres.

    Jack Norris, president and chief executive officer of CB Richard Ellis Pittsburgh, said the inclusion of housing in the development was in accordance with township requirements for the use of the land. CB Richard Ellis has provided consulting services for the developers through the pre-construction phases.

    Construction at Tech 21 is slated to begin next week. Mr. Norris pegged the value of the project at between $350 million and $400 million.

    The partnership first presented its proposal for the project to Marshall supervisors in 1999. For five years, the developers, supervisors and residents engaged in discussion and sometimes heated debate about the project. The board of supervisors granted final approval in September 2004.