Beacon Capital Partners and Trammell Crow Company (TCC) have announced a new lease addition with the University of Chicago at Hyde Park Labs in Chicago. The private research university will occupy over 155,000 square feet and is expected to move into its new space by the second quarter of 2026.

Dan Lyne and Brandon Green of CBRE represented Beacon and TCC in lease negotiations. The university’s new space at Hyde Park Labs includes 101,199 square feet across the building’s top three floors. Six UChicago-affiliated companies are among the incubator’s first tenants: memQ, Exactics, Signl, Cell Therapy, ZipBionexus Tech, and Neuro Innovations. In partnership with the university, the ground floor of the building will also initially host IBM’s next-gen modular quantum computer, IBM Quantum System Two.

Located at 5207 South Harper Ave., Hyde Park Labs is a purpose-built advanced R&D lab building. The 13-story building spans more than 300,000 square feet and features nine full floors of lab and office space, as well as ground-level retail.