One piece of a planned $2.1 billion expansion of the life sciences district Cortex has fallen into place.
Baltimore-based Wexford Science and Technology closed today on the purchase of the old Western Electric building at the corner of Duncan and Boyle. The company, which also developed the BRDG Park in Creve Coeur, plans a $70 million rehab to turn the building into 183,000 square feet of lab and office space. About half is already leased - the primary client is Washington University's Office of Technology Management, and Wexford plans to announce additional tenants in February or March.
Wexford officials say rehab work is already underway, and should be complete by this time next year. As part of the first phase of the planned expansion, Wexford also purchased the original Cortex building.