HemoShear moving to downtown Charlottesville

HemoShear LLC, a biotechnology research company,  said Tuesday that it will expand and relocate its headquarters to downtown Charlottesville later this year.

The company, which has grown to 30 employees since starting operations in 2009,  currently is based at 1115 5th Street S.W., about two miles from downtown. It plans to initially lease 14,800 square feet in the Cardwell Building in the former Martha Jefferson Hospital.

The renovated Cardwell space will allow for continued growth as HemoShear increases the scope of its pharmaceutical customer partnerships and its technology development, the company said in a statement. Jim Powers, HemoShear’s CEO, said in an email that he can see the company growing to 75-100 employees within two years.

The Cardwell Building is owned by Octagon Partners, a Charlottesville-based real estate company.  The lease allows for expansion to additional floors, as HemoShear’s business requires.

Demolition for the new space is underway. Mark Mascotte of MFM Partners LLC represented the landlord in the lease transaction. Stellar One Bank and the state of Virginia provided financial assistance to HemoShear. Local contractor Vision Building and Design will perform the demolition and design.