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WINSTON-SALEM, N.C. — Wexford Science & Technology LLC, Wake Forest Baptist Medical Center’s development partner in the Wake Forest Innovation Quarter, is investing $150 million to renovate two former Reynolds Tobacco buildings in downtown Winston-Salem. The investment brings Wexford’s total investment in the Innovation Quarter to more than $250 million, the largest capital investment in the history of downtown Winston-Salem, according to the company.
The two buildings, formerly part of the “90 Series,” will be named 525 Vine and 635 Vine to represent their locations. Together, the two buildings will contain 473,000 square feet. The 230,000-square-foot 525 Vine will be developed for multi-tenant use, including labs, offices and educational facilities.
Inmar, which operates commerce networks to connect retailers, manufacturers and service providers, will establish its corporate headquarters at 635 Vine. Wexford expects to complete the 243,000-square-foot renovation during the first quarter of 2014.
“This is a further significant milestone in our progress to create a dynamic hub for innovation in medical science and information technology in Winston-Salem,” says Eric Tomlinson, chief innovation officer for the Wake Forest Baptist Medical Center and president of the Wake Forest Innovation Quarter. “We are delighted by Wexford's work and look forward to them working with Inmar and others in creating distinctive work spaces that will maintain the inspirational nature of the Innovation Quarter.”
Baltimore-based Wexford is a private real estate investment and development company that owns and develops institutional life science real estate for academic and medical research organizations.
— Brittany Biddy