Inova selects ExxonMobil Campus as site for new personalized health center
Inova announced Monday that it has selected the ExxonMobil Fairfax Campus as the destination for a planned medical expansion in Fairfax — a multimillion dollar Inova Center for Personalized Health.
The Fairfax County-based health system said it has signed an agreement concerning the 117-acre site, located across from its flagship hospital. The health system, accordiing to Capital Business, will lease the property for five years before aquiring it for an undisclosed price. The campus, with four office buildings totaling more than 1 million square feet of space, was reportedly assessed for about $193 million in 2014.
Knox Singleton, Inova’s CEO, laid out his company's plans for the site. “This new center will harbor an atmosphere of innovation and unparalleled access to leading-edge technologies and world-class laboratories,” said in a statement. “In addition to driving Inova’s vision for a preventive and personalized approach to health, the new campus will attract internationally renowned clinicians and researchers, as well as business people, thereby fostering future economic growth in the region.”
The Inova Translational Medicine Institute (ITMI) and the Inova Comprehensive Cancer and Research Institute (ICCRI) will anchor the new site, providing a platform for the development and application of advances in personalized medicine through genomics.
“Today’s announcement is an enormous leap forward, not only for Northern Virginia’s economy but for our entire commonwealth’s position as a global leader in health care, genomics and life sciences,” said Gov. Terry McAuliffe, who attended Inova’s press conference Monday to announce the deal.
Inova has identified personalized medicine as an important component to the future of health care. The health system expects the new campus to provide the space and resources needed to achieve its goal of creating an internationally prominent center for genomic research, personalized health-care and associated life science commercial development.
“We believe this transition will benefit Northern Virginia for generations to come,” Theodore Wojnar Jr., president of ExxonMobil Research and Engineering Company, said in a statement. “We are proud of our 35-year history in Virginia and are pleased that the property will continue to play an important role in the community.”
Inova said property transition is anticipated to begin in late 2015. The health system had reportedly been considering the campus since Exxon Mobile announced in June 2012 that it would end operations at 3225 Gallows Road and relocate its 2,100 employees to a new Houston campus. JLL represented Inova in the ExxonMobil site acquisition
Inova, a not-for-profit health care system with five hospitals and 1,700 beds, serves more than two million people across Northern Virginia.