Reviewed by: Nathan Watson
UAB buys 9-acre Southside property from Southern Research in $15M deal
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The University of Alabama System Board of Trustees has approved a $15 million deal for the University of Alabama at Birmingham (UAB) to purchase nine acres of the Southern Research campus.
Southern Research will keep ownership of its 150,000-square-foot research building, which houses its Station 41 drug discovery accelerator and start-up incubator. As part of the agreement, Southern Research will lease back some space to continue operations, while UAB gains access to administrative and research space that had been sitting empty or underused.
Where is the land that UAB purchased from Southern Research?
The property sits on Birmingham’s Southside, just southeast of UAB’s main campus.
It’s bordered by 22nd Street South to the east, Richard Arrington Jr. Boulevard to the west, and stretches roughly between 9th and 10th Avenue South, right next to Brother Bryan Park.
Southern Research will keep its main office building, which sits in the middle of the property (the red square in the above map), while UAB takes over the surrounding parking lots and secondary buildings (the blue outlined area).
The purchase includes roughly nine acres of the Southern Research campus, according to the university.
Why UAB’s purchase is a win-win
UAB President Dr. Ray Watts, who chairs the Southern Research Board of Directors and is currently serving a second stint as the organization’s interim CEO, says the purchase benefits both sides.
“This is a clear win-win scenario for Southern Research and UAB. UAB will now have access to research space that is currently unused or not used to its fullest potential by Southern Research, while Southern Research concentrates its focus on important drug discovery activities in its new, state-of-the-art research building.”
Ray Watts, M.D., President, UAB
Watts adds that the nine acres sit close to UAB’s existing research buildings, setting up easier collaboration between the two institutions going forward.
Southern Research Chief Operating Officer Harry Ledebur Jr. says the timing lines up with where the organization wants to focus its resources.
“With the evolving landscape of biomedical research, it is more important than ever that we make deliberate decisions about where we invest our resources and how we position Southern Research for the future.
“This transaction allows us to better align our physical footprint with our operations, concentrate resources on our core scientific capabilities, and strengthen Southern Research’s long-term sustainability while continuing our important partnership with UAB.”
Harry Ledebur Jr., Ph.D., Chief Operating Officer, Southern Research
UAB + Southern Research’s 80-year partnership continues
Southern Research is a nonprofit scientific contract research organization with more than 80 years in drug discovery and development, and operates as an incorporated affiliate of UAB. O’Neal Industries CEO Ruffner Page, who serves as vice chairman of the Southern Research Board of Directors, says the sale reflects that ongoing relationship.
“For many years, Southern Research has collaborated with UAB to accelerate discovery and innovation. This purchase, along with Southern Research’s and UAB’s commitment to a continued strategic partnership, serves the greater good and has the full support of the Southern Research Board.”
Ruffner Page, CEO, O’Neal Industries; Vice Chairman, Southern Research Board of Directors
