Exact Sciences DIAGNOSTIC LAB
Real estate that saves lives
Exact Sciences – Diagnostic Lab Testimonial
Exact Sciences, Madison, WI
Strategic Real Estate Consulting, Tenant Advising
Exact Sciences needed a new facility to accommodate a 250,000-square-foot colon cancer diagnostics lab and the functions that would support it.
While the initial plan was to build from the ground up, an unforeseen change of plans launched our search for an existing building.
We found the perfect space in the former Rayovac headquarters and negotiated the transaction of the facility and its adjacent land. Then, we helped to coordinate city approvals and launch the construction process.
- Madison, WI
- Client since 2009
- 420,000 square feet
- $122 MM project value
The Full Story…
Since 1995, the experts at Exact Sciences have worked tirelessly to win the war on cancer through earlier detection, and since 2013, we’ve been a critical part of their team. We’re proud to drive Exact’s real estate strategy, so far assisting with over 30 real estate transactions. After formal approval of Cologuard, Exact’s at-home colon cancer diagnostic test, the company needed a new facility that could handle an estimated 8 million tests per year.
The Site Search Begins (with an Unforeseen Challenge)
We quickly explored Madison-area greenspace that could accommodate a 250,000-square-foot lab and the functions that support it, including a warehouse and a call center. However, while the initial plan had been to build from the ground up, an unforeseen need to grow the call center even more quickly necessitated a change in plan. We were no longer looking for vacant land to build the facility; we needed to find a large existing building to occupy — and fast.
A Nimble Approach Leads to Success
We quickly found a solution, presenting an alternative existing building consisting of Rayovac’s former corporate headquarters. Additionally, we recommended the acquisition of 16 acres adjacent to the facility to accommodate Exact’s expected growth. After negotiating approvals from the city of Madison (no easy feat), the site was secured for Exact. Then, we worked closely with design and construction partners (including Findorff and Potter Lawson) to facilitate an expedited timeline, starting construction within just four months. The resulting facility spans 450,000 square feet, complete with 1,500 parking stalls.