HB Reavis partners with US innovation cluster specialist Cambridge Innovation Center
HB Reavis announced a partnership with Cambridge Innovation Center (CIC) – US real estate services company focusing on developing ecosystems that allow exceptional entrepreneurs to create new products and companies better and faster. Investing more than €45 million into the scheme, HB Reavis has also taken a seat on CIC’s Board. In turn, CIC will use the investment to expand its global network of science and technology innovation campuses.
Bringing the two businesses even closer together; CIC has also leased 30 per cent of HB Reavis’ new Varso II development. Part of the flagship Varso Place in Warsaw and set to be a new hub for the city’s tech community, the deal comes 22 months ahead of completion.
It’s a partnership with great synergy and potential. US-headquartered CIC builds ‘innovation communities’ – campuses targeting start-ups, corporate innovation spin-outs and venture capital funds. Their workspaces, laboratories and specialised industry ‘hubs’ attract key local innovators. Entrepreneurs who also make the most on the on-site educational programmes, events and networking opportunities.
Warsaw will become CIC’s second European premises; their Rotterdam site opened in September 2016. CIC’s decision to expand in the heart of Warsaw stemmed from Poland boasting Europe’s longest continuously growing economy – and the OECD’s recent reclassification as a ‘Developed Country’. Their new offices will be home to almost 14,000 sq m of specialised industry “hubs”, focusing on energy, biotech, digital and new materials.
More broadly, the partners will look to branch into the UK – already a HB Reavis stronghold. There are also plans to explore opportunities for installing innovation clusters in Berlin, Frankfurt, and other markets across Europe.
Not surprisingly, HB Reavis is likely to invite CIC’s workspaces into its future developments, while also expanding its co-working platform HubHub. Currently in Warsaw and Bratislava, HubHubs offer state-of-the-art education facilities, creates talented communities and fosters collaborative working.
“Our alliance with Cambridge Innovation Centre directly supports our strategy of partnering with the best innovation and workspace specialists in the world, to provide outstanding workplace solutions for businesses of all sizes,” said Marian Herman, CEO of HB Reavis. “We’re looking forward to launching CIC Warsaw as the first of many projects together, designed to engage with entrepreneurial ecosystems and establish innovation campuses throughout Europe.”
“Partnering with HB Reavis, a strategic investor at the forefront of commercial real estate, enables us to dramatically accelerate the expansion of our global network of innovation campuses, including our upcoming launch in Poland. These funds also bolster our ability to attract top talent as we grow our executive leadership team to manage this next phase of growth,” stated CIC’s Founder and CEO Tim Rowe.
Currently under construction, Varso Place is due for completion in 2019. With one of Europe’s tallest towers, the development’s wide range of smart technologies and wellbeing initiatives have been developed to create a thoroughly user-centric environment. The mixed-use project also includes two additional buildings, offering office, retail and hospitality space.
In 2017 Varso joined an exclusive group of buildings worldwide to be awarded WELL Core & Shell Precertification by the International WELL Building Institute.