Exact Sciences and University Research Park (URP) have broken ground on a 138,000ft² building, Innovation One, which will serve as Exact Sciences’ corporate headquarters, in Madison, Wisconsin.
Exact Sciences will continue its work to eradicate colorectal cancer and combat other cancers through early detection, from the new premises.
Located between 441 Charmany Drive and 501 Charmany Drive, Innovation One is expected to be completed in early 2020. It will bring together team members and departments currently dispersed across multiple sites in the Madison area.
Exact Sciences relocated to Madison from Boston in 2009. Of the 1,600 employees, approximately 1,200 are based in the greater Madison area.
The URP master plan favours walkability and urban density to promote collaboration and more vibrant workspaces and the presence of Exact Sciences and employee base is expected to promote other development in and around the park.
Designed by architecture firm Valerio Dewalt Train Associates, the five-storey Innovation One building will use glass to take advantage of natural light and create a modern space that is urban, natural and welcoming. The building will be LEED certified and feature environmentally-friendly elements.
A two-storey link at Innovation One will connect the structure to Exact Sciences’ existing 48,000ft² research facility at 501 Charmany Drive.
The company will continue to operate a manufacturing facility at 441 Charmany Drive, which will remain a standalone structure.
The campus at URP, to be named Innovation campus, will complement Exact Sciences’ laboratory campus (Discovery campus) being constructed at 1 Exact Lane/650 Forward Drive and the existing clinical laboratory at 145 E Badger Road (Legacy campus).
A pad-ready site will also be created for a second tower, Innovation Two, for Exact Sciences to expand further.
URP, which executed a master agreement with Exact Sciences, secured construction financing commitment from First Business Bank to build Innovation One and signed a construction contract with Findorff.
The City of Madison is providing $2.6m in tax increment financing (TIF) to URP.
URP and Exact Sciences are expected to close the transaction in the third quarter of 2018.
Findorff has been appointed as the general contractor to URP. Potter Lawson will be the tenant improvement architect for Exact Sciences.
Image: A rendering of Innovation One building being developed by University Research Park to serve as Exact Sciences’ corporate headquarters. Photo: courtesy of Exact Sciences Corp.