Metro Atlanta
Metro Atlanta

Ancora invests $84 million for labs here and in R.I.

Facility adjacent to Georgia Tech will offer 28,000 square feet of space
A student walks past a Tech Square sign located at the corner of 5th Street and West Peachtree Street on the campus of Georgia Tech on Thursday, October 20, 2022. (Natrice Miller/natrice.miller@ajc.com)

Credit: Natrice Miller / Natrice.Miller@ajc.com

Credit: Natrice Miller / Natrice.Miller@ajc.com

A student walks past a Tech Square sign located at the corner of 5th Street and West Peachtree Street on the campus of Georgia Tech on Thursday, October 20, 2022. (Natrice Miller/natrice.miller@ajc.com)
By Michael E. Kanell
Oct 26, 2022

Ancora L&G will develop a multi-million dollar lab at Science Square Innovation District in Atlanta, Georgia, officials of the company said.

The privately held company, which is based in Durham, N.C., announced the Atlanta project in conjunction with a similar development in Rhode Island, a project anchored by Brown University.

Together, the two projects amount to an $84 million investment with more than 300,000 square feet of science and health lab space. Ancora did not project their value individually.

The Atlanta plan is set for 387 Technology Circle, with 28,000 square feet adjacent to the Georgia Tech campus in the city’s Midtown.

The company’s aim is “to invest in and build a premium portfolio of science and technology assets in U.S. markets, in partnership with high quality anchor institutions,” according to a statement from Ancora.

The company described Atlanta as a top market for life sciences.

The property currently has four tenants, the company said: Georgia Tech, CardioMEMS, Kemira Chemicals, and VERO Biotech.

About the Author

Michael E. Kanell, the AJC's economics writer, has been reporting on jobs, housing and the economy at the AJC for nearly two decades. He has appeared on television and radio to analyze and report on business and economic developments.

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