Lab Builder Buys ​“10th Sq.” Corner For $10M+

A North Carolina-based real estate developer has purchased the southwest corner of the ex-Coliseum site for over $10.6 million — furthering an already-city-approved plan to build up that part of the property into a new 11-story lab and office building. The seller of that property is an affiliate of Spinnaker Real Estate Partners, the Norwalk-based firm that is overseeing the broader redevelopment of the former Coliseum site into hundreds of new apartments, parking spaces, and shops as part of a project called ​“Square 10.” The buyer of the property is an affiliate of Ancora, a Durham, N.C.-based science-focused real estate developer. “The project has been reviewed and approved by the Ancora L&G Investment Committee, and the company’s leadership remains supportive of the project,” Parker wrote. ​“Specifically, approval has included closing on the land acquisition of Parcel 1C and spending the necessary capital to advance the project to GMP and construction readiness. Construction is projected to begin this summer.”

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