Belay Diagnostics Expands with Over 10K SF Lease in Fulton Market As Chicago's BioMed Scene Grows

Trammell Crow's Fulton Labs Sees Expansion with Belay Diagnostics

Chicago's biomedical research and innovation landscape is witnessing a significant boost as Belay Diagnostics, a tenant at Trammell Crow Company’s Fulton Labs, expands its lease. This move not only strengthens the city's life science ecosystem but also underscores the growing demand for specialized lab spaces in the real estate market.

Belay Diagnostics Doubles its Footprint

Belay Diagnostics, known for its proprietary molecular testing platform used in detecting brain and spinal cord cancers, has increased its footprint to over 10,000 square feet. This move more than doubles its previous lease in the same Fulton Labs building located at 1375 West Fulton Street. The lease negotiation was facilitated by CBRE’s Dan Lyne and Kelsey Scheive on behalf of Trammell Crow.

Trammell Crow's Vision for Life Science Ecosystem

The expansion by Belay Diagnostics is a testament to the life science ecosystem that Trammell Crow is striving to create across its Fulton Labs campus and its entire life science portfolio in Chicago. The lab suites at 1375 are designed to support the growth of their users, allowing companies to focus solely on their work, which ultimately leads to a need for more space to accommodate the scale of each business.

Recent Wins for Trammell Crow

The Dallas-based firm, Trammell Crow, has been on a winning streak recently. It secured a 34,000-square-foot lease from the Illinois Institute of Technology at 400 North Aberdeen Street, which is part of Trammell Crow’s 725,000-square-foot Fulton Labs campus. The North Aberdeen building, set to open next fall, has also received a 28,000-square-foot commitment from the Chan Zuckerberg Biohub. Furthermore, drug maker Xeris Biopharma Holdings has signed a 13-year, 87,000-square-foot lease at 1375 West Fulton, making it the anchor tenant in the 14-story building.

Future Projects in the Pipeline

Trammell Crow and Beacon Capital Partners are also working on Hyde Park Labs, a 300,000-square-foot facility near the intersection of 52nd Street and Harper Avenue, and another life science facility in north suburban Evanston. These projects are a testament to the growing demand for life science facilities and the role they play in shaping the real estate market.