updated: 4/15/2008 12:13:39 PM

Private Consortium Buys Former CTS Building in West Lafayette

InsideINdianaBusiness.com Report

Indiana Technology Group (ITG) has purchased the CTS Research Facility in West Lafayette. It is hoping to attract life sciences companies to the more than 100,000 square foot building. Ahmed Alsoffi with ITG says the group believes the life sciences industry will grow much faster once private real estate companies realize the potential in investing in the appropriate infrastructure. ITG plans to use some space in the building as an incubator for promising startups.

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Source: Inside INdiana Business

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Press Release

West Lafayette, Indiana, April 15, 2008 -- Indiana Technology Group (ITG) announced today that it had purchased the CTS Research Facility in West Lafayette and planned to make it a significant driver in the local and state economy.

“We’re very excited to be part of building infrastructure for the growing life science industry in our state. We believe that the industry will grow much faster once private real estate companies realize the potential in this type of real estate investment. In addition, having the appropriate infrastructure capacity will bring companies from other parts of the country and in turn fuel more growth,” said Ahmed Alsoffi, a Principal with ITG.

The facility offers over 100,000 square feet of space preconfigured for high tech enterprises. ITG sees its proximity to the Purdue Research Park and its location in Indiana’s high tech corridor as being factors that make it an attractive alternative for new and growing companies or established companies looking to relocate.

Alsoffi added that one of the most attractive features of the building is the availability of nearly 30,000 square feet of clean room space: “Clean room space is expensive to build and maintain and it is in short supply regionally. The facility has a number of separate clean room areas and we can offer scalable space that meets the needs of different sized companies that require clean room capabilities.” Alsoffi also indicated that ITG plans to offer some of the space in the building as an incubator for promising startups.

Source: Indiana Technology Group

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