Chicago, IL – July 28, 2025 – Beacon Capital Partners (Beacon), a top real estate developer, owner, and manager of office and life science properties, and Trammell Crow Company (TCC), a leading commercial real estate developer, have delivered Hyde Park Labs in Chicago, Illinois. The partnership is also celebrating the opening of its STEM engagement center for local youth, known as Southside STEM Station, situated on the ground floor of Hyde Park Labs.

Located at 5207 Harper Court, Hyde Park Labs is the South Side of Chicago’s first commercial, purpose-built advanced R&D lab building. Standing 13 stories and spanning more than 300,000 square feet, the building features nine full floors of Class-A lab and office space, ground-level retail, and four levels of above-grade and below-grade parking. The facility will include 40,000 sq. ft. of tenant amenities, including a fifth-floor terrace dubbed “The Lawn,” featuring grills, firepits, views of Lake Michigan, and direct access to the interior tenant lounge. Hyde Park Labs also offers private terraces on every floor, secure on-site bike storage, an indoor bar and lounge, and an executive boardroom.

The University of Chicago has already pre-leased approximately 55,000 sq. ft. at Hyde Park Labs. In addition to faculty research, the university space includes its new UChicago Science Incubator, a partnership between the Polsky Center for Entrepreneurship and Innovation and Portal Innovations to translate early-stage deep tech concepts into commercial opportunities. memQ, a spin-out from UChicago and Argonne National Lab developing quantum networking technologies, has been named as one of the first tenants within the UChicago Science Incubator, along with Exactics, a biotechnology company founded by students at The College. Hyde Park Labs will also host IBM’s new National Quantum Algorithm Center. The center and the new quantum system will aim to advance quantum-centric supercomputing across industries, reinforcing Illinois’ status as a leader in emerging technology and a global quantum capital.

“Hyde Park Labs is poised to strengthen the innovation ecosystem that connects academic research with the private sector to the benefit of Chicago and beyond,” said President Paul Alivisatos. “Bringing together University of Chicago scientists and students with startups and established companies, it will serve as a powerful environment for advancing breakthrough ideas and accelerating their path to real-world impact.”

“We’re very excited to deliver this purpose-built life sciences project in Chicago’s Hyde Park neighborhood, alongside the University of Chicago as our anchor tenant,” said Fred Seigel, President and Chief Executive Officer, Beacon Capital Partners. “Hyde Park Labs will inspire groundbreaking innovation that will contribute to Chicago’s South Side community and burgeoning life sciences ecosystem.”

The Southside STEM Station officially opened on the ground floor of Hyde Park Labs on May 29, 2025. Benefitting from extensive community input early in the development process, this new learning hub offers free, quality hands-on STEM programs for students, families, and educators on the city’s South Side. It will feature in-school labs, after-school and summer programs, community events, and teacher professional development to foster inclusive STEM education.

“Among the many things that make Hyde Park Labs unique, we’re especially proud to include the new Southside STEM Station in our project,” said John Carlson, Principal at TCC Midwest. “Providing STEM education to South Side youth and sparking their interest in math and science is key to nurturing the next generation of innovators in our city.”

Dan Lyne and Brandon Green of CBRE are the exclusive marketing and leasing agents for Hyde Park Labs. Additional partners include Elkus Manfredi Architects, Interactive Design Architects, Power Construction, Ujamaa, and Trinal.

About Beacon Capital Partners

Beacon Capital Partners (Beacon) is a leading private real estate investment firm, owning and operating office and life science properties. The firm has a 77-year legacy of successful real estate development, management, and transformation of workplaces. Since 1998, Beacon has raised ten commingled investment vehicles, as well as multiple joint venture vehicles and co-investments, totaling over $19 billion of equity capital commitments from public and corporate pension funds, financial institutions, endowments, foundations, and other U.S. and non-U.S. institutional investors. Today, Beacon manages $13.6 billion of real estate and owns and operates a portfolio spanning 36 million square feet across 14 U.S. markets.

About Trammell Crow Company

Trammell Crow Company (TCC) is a leading commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired 3,000 buildings valued at $90 billion spanning more than 700 million square feet. As of March 31, 2025, TCC had $18.3 billion of projects in process and $12.8 billion in its pipeline. With 550 employees throughout the United States and Europe in 27 offices, the company serves users of and investors in office, industrial/logistics, healthcare, life science, data center, and mixed-use projects, as well as multifamily residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.

Media Contacts:

For Beacon Capital Partners:

Maureen Richardson
mrichardson@riverinc.com

For TCC:

Ryan Salchert
rsalchert@trammellcrow.com