Innovation Quarter announced today the acquisition of the Linden Center, a 190,000-square-foot former operations facility in downtown Winston-Salem. Located at 401 North Research Parkway and situated on a 2.4-acre site, the three-story building – previously home to Wells Fargo – will be repurposed as flexible laboratory and biomanufacturing space, designed to meet growing regional demand for industry-ready infrastructure.
Since 2002, Innovation Quarter has played a defining role in revitalizing downtown Winston-Salem, transforming historic factories into labs, creating greenways and gathering spaces, and anchoring a mixed-use district that now spans more than 2.1 million square feet. Today, the district proudly contributes an estimated $2 billion in annual economic impact to the region.
The acquisition of 401 N. Research Parkway represents yet another strategic investment in that momentum, deepening Innovation Quarter’s commitment to the city’s urban core.
“At Advocate Health, we know that a better future of medicine won’t simply arrive – we have to create it, literally,” said Eugene A. Woods, CEO of Advocate Health, of which Atrium Health Wake Forest Baptist is part. “The new laboratory and biomanufacturing space we’re building is more than an investment – it's a launchpad for discovery and transformation, right in the heart of Winston-Salem’s Innovation Quarter, where world-leading work in regenerative medicine and life sciences is transforming lives.”
Innovation Quarter plans to immediately begin tenant and space planning within the building, with design efforts focused on creating flexible, subdividable lab environments that support both startups and scaling life sciences and regenerative medicine ventures. The intentional design builds on the success of Sparq Labs – adaptable biotech lab space for rent located at One Technology Place – which came online just over a year ago and is already nearing full capacity.
The building features expansive, contiguous floorplates of approximately 60,000 square feet each and is equipped with a robust infrastructure. These attributes enable efficient, timely and cost-effective conversion to lab or biomanufacturing space, further supporting the Innovation Quarter’s operational goals.
“Winston-Salem is quickly establishing itself as a global destination for regenerative medicine, life sciences startups and growth stage companies,” said Isaac Perry, head of Biotech and Life Sciences Ecosystem Development for Innovation Quarter and Greater Winston-Salem, Inc. “401 N. Research Parkway adds critical capacity right when we need it, allowing our ecosystem to keep pace with demand while we prepare for what’s next. As Innovation Quarter enters its next chapter, this acquisition solidifies and accelerates the momentum we’ve built.”
The acquisition of 401 N. Research Parkway comes at a pivotal moment for the Innovation Quarter. With flexible lab and biomanufacturing space in high demand, the building offers immediate capacity for growing companies and institutional partners, and just steps away from the future footprint of Innovation Quarter Phase II. That 28-acre site has now completed its horizontal infrastructure work, including more than 2,200 linear feet of greenway extension, 46,000 feet of fiber and electrical conduit, site grading, new lighting and upgraded streetscapes. As vertical development plans progress, the building serves as a vital connector, bridging the district’s current footprint with the long-term vision that Phase II represents.