Cincinnati Children's acquires office building in Cincinnati Innovation District to boost research

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Cincinnati Children's Hospital Medical Center

Sep 23, 2024, 08:30 ET

3090 Exploration Ave. to be new home for scientists focused on improving child health

CINCINNATI, Sept. 23, 2024 /PRNewswire/ -- Cincinnati Children's has acquired a recently constructed office building in the Cincinnati Innovation District, which will be home to over 200 current employees who focus on non-laboratory research. The health system will occupy the top two floors of the six-story, 180,000-square-foot building at 3090 Exploration Ave.

Cincinnati Children’s has acquired the office building at 3090 Exploration Ave., which is near the Interstate 71/Martin Luther King Jr. Drive interchange in the Cincinnati Innovation District. Health system researchers will occupy the top two floors of the six-story building, and space on Floors 1-4 will be available for lease.

The purchase price wasn't disclosed. JobsOhio provided a $32 million low-interest loan to help Cincinnati Children's acquire 3090 Exploration Ave., which was built near the Interstate 71/Martin Luther King Jr. Drive interchange by Terrex Development & Construction. The building abuts the south side of MLK near its intersection with Reading Road.

As part of the agreement with JobsOhio, Cincinnati Children's committed to creating 100 new research jobs with a payroll of at least $10 million. Cincinnati Children's also committed to increasing research that relies on federal funding.

The two floors of 3090 Exploration Ave. to be occupied by Cincinnati Children's encompass a total of 60,000 square feet. The four lower floors, each of which encompasses 30,000 square feet, will be leased to other organizations that complement the innovation environment that continues to grow in Uptown, said Steve Davis, MD, president and CEO of Cincinnati Children's.

The space on Floors 1-4 will be marketed to prospective tenants by Cushman Wakefield. The building will include a breakfast and lunch dining concept, details of which will be announced in the coming months.

"As the leader in improving child health, Cincinnati Children's leads the way in research and innovation – and 3090 Exploration Avenue will be the premier address for this work," Davis said. "The building will be anchored by hundreds of our researchers, which we believe will be a catalyst to help drive additional investment and jobs in the Cincinnati Innovation District."

The JobsOhio loan was funded by an initial $100 million commitment to the Cincinnati Innovation District. JobsOhio, the state's private nonprofit economic development corporation, collaborates with regional partners such as REDI Cincinnati to enhance company growth and personnel development through business attraction, retention and expansion across 10 competitive industry sectors.

Ohio Gov. Mike DeWine said: "Cincinnati Children's is already the top pediatric hospital in the nation, and this investment within the Cincinnati Innovation District will allow doctors and researchers to expand their work to improve care for children worldwide. The life-changing ideas and innovation that will originate at 3090 Exploration Avenue will further cement Ohio's position as the heart of innovation and opportunity."

Lt. Gov. Jon Husted added: "Ohio's anchor research institutions, like Cincinnati Children's, are leading our pursuit of being the most innovative state in the Midwest as we strengthen our position to attract and retain elite talent worldwide. Cincinnati Children's new research capacity demonstrates the hospital's commitment to the Cincinnati Innovation District, the Uptown community and the state's innovation economy."

J.P. Nauseef, president and CEO of JobsOhio, stated: "Bringing more than 200 employees from the nation's preeminent children's hospital to the Cincinnati Innovation District is a transformative step toward realizing the vibrant communities envisioned by the JobsOhio Innovation District Initiative. Cincinnati Children's purchase of 3090 Exploration Avenue will fuel even greater collaboration with the world-class researchers at the University of Cincinnati's Digital Futures building next door."

Kimm Lauterbach, REDI Cincinnati president and CEO, added: "Cincinnati Children's investment in the 3090 Exploration Avenue building in the Cincinnati Innovation District solidifies our city's reputation as a premier destination for companies investing in life sciences and cutting-edge healthcare innovation. Thank you to JobsOhio for the invaluable partnership in driving our region's continued momentum. The support of JobsOhio elevates Cincinnati's position as a leading hub for groundbreaking medical advancements and strengthens our city's role in shaping the future of healthcare innovation on a global scale."

Peter Horton, principal of Terrex Development & Construction, noted that the Uptown Consortium had selected the firm as one of the preferred developers in the Cincinnati Innovation District. "A critical aspect of the development has been our partnership with the Avondale community, which played an active role in shaping the project," Horton said. "Community feedback and economic inclusion protocols were integrated to ensure Avondale residents benefit from job opportunities during and after construction."

Buildout of the interior space on the two floors for Cincinnati Children's employees is expected to take nine to 12 months and will be overseen by TriVersity Construction. Design will be led by BHDP Architecture. Motz Engineering will handle mechanical electrical and plumbing, while RCF Group will provide furniture. Graphics and wayfinding will be by Kolar Design.  

Following construction, Cincinnati Children's employees based at 3090 Exploration Ave. will move from two buildings on the health system's Burnet Campus in Avondale: the William Cooper Procter Research Pavilion that opened in 2008 at Location S, and the Clinical Sciences Pavilion that opened in 2015 at Location T. Both spaces were originally designed to accommodate laboratories, and they will be reconfigured for that purpose.

About Cincinnati Children's 
Cincinnati Children's ranks No. 1 in the nation in U.S. News & World Report's 2023-24 listing of Best Children's Hospitals. In addition, Cincinnati Children's is recognized as one of America's Most Innovative Companies by Fortune. Nearly one-third of the health system's 19,500 employees are engaged in research, and Cincinnati Children's is one of the top two recipients of pediatric research grants from the National Institutes of Health. More information: CincinnatiChildrens.org

SOURCE Cincinnati Children's Hospital Medical Center