Albrecht Announces Addition of Liquid Crystal Technology Company, ChemImage, to Hudson Drive Business Campus
Pair of flex buildings in Stow are now operating at 98 percent occupancy
Posted: 02/16/2012
AKRON, Ohio (Feb. 16, 2012) - Albrecht, Incorporated, a Northeast Ohio-based retail and industrial real estate company, recently announced the addition of ChemImage Imaging Technologies to its Hudson Drive Business Campus in Stow.
ChemImage Imaging Technologies is a newly created subsidiary of ChemImage Corporation. Headquartered in Pittsburgh, ChemImage received a $1 million grant from the Ohio Third Frontier Advanced Materials Program to help create a manufacturing facility for the company's liquid crystal-based technology. They are working in close cooperation with Kent State University's Liquid Crystal Institute to produce the technology, and will become the second tenant to work with Kent State, joining California-based CoAdna Photonics, which opened a research and development facility in Albrecht's Hudson Drive flex complex in 2007.
"By bringing in a company like ChemImage, we've added yet another layer of technology and sophistication to our Hudson Drive Business Campus," said Jack Juron, vice president of Albrecht, Incorporated. "Their collaboration with Kent State and the impact of job creation in the next five years is a victory for the area and is a blueprint for future economic development on our campus."
Albrecht created the Hudson Drive Business Campus after acquiring the former Goodyear mold plant in 2005. The 106-acre property includes the original 130,000 square foot plant, which has been remodeled, and a pair of flex buildings that are now at 98 percent occupancy at the time of this announcement. In addition to using approximately 11,500 square feet in the second flex structure, ChemImage is also building one of the highest-rated "clean rooms" in the region to aid in its research.
"The addition of ChemImage to the Hudson Drive Business Campus is a testament to the strength of the location," said Jim Nilsen, president and treasurer of Albrecht, Incorporated. "We're proud to be a part of the continued growth of the Route 8 corridor, and the blossoming of the Steels Corners interchange in particular."
ChemImage Corporation, a leader in hyperspectral imaging technology (i.e., molecular chemical imaging), provides instrumentation, software, contract services and expert consulting to government, industrial and academic organizations. The company's proprietary, state-of-the-art hyperspectral imaging technology has many applications, including defense, security, pharmaceuticals, forensics and biomedical diagnostic research, which can reveal critical chemical and biological information from a variety of material systems.
"As part of our business strategy, ChemImage has committed to the regional expertise that exists in Northeast Ohio for liquid crystal technology and Albrecht, Incorporated plays an important role as we partner for the future," said John Belechak, ChemImage Chief Operating Officer. "Albrecht provides a Hudson Drive Business Campus location that emphasizes a high-tech culture and brings us within close proximity to the Liquid Crystal Institute at Kent State University and a cluster of companies that provide regional stability and future economic growth. The professionalism and flexibility of Albrecht made our decision easy."
The Glenn H. Brown Liquid Crystal Institute (LCI) was founded in 1965 by Glenn H. Brown, a chemistry professor at Kent State University. The birthplace of liquid crystal displays, the LCI is the world first research center focused on the basic and applied science of liquid crystals. Research at the LCI addresses the entire range of multidisciplinary topics associated with the science and technology of liquid crystals and related self-organized materials and devices. The LCI is the place where the future of the liquid crystals is relentlessly pursued, fostering cross-disciplinary and academia-industry collaborations.
"In Albrecht, we're fortunate to have a relationship with a company that is as interested as we are in growing and building technology in Northeast Ohio," said Dr. Hiroshi Yokoyama, Director of Kent State's Liquid Crystal Institute. "The addition of a second liquid crystal-based company to the Hudson Drive complex is an exciting announcement for everyone involved."
Albrecht, Incorporated is a privately held, locally owned real estate company with more than four million square feet of retail, grocery and industrial real estate under its ownership and management. Its grocery-anchored shopping centers are located at some of the highest traffic areas in Summit, Cuyahoga, Stark, Medina and Portage Counties. Albrecht, Incorporated leases space to national retailers, Fortune 500 companies, local family-owned businesses and Acme Fresh Markets. For more information, visit www.albrechtinc.com or call 330-376-6611.
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