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The economic development arm of a Chinese tech park developer plans to open a 66,209-square-foot innovation center at 1000 Massachusetts Ave. in Cambridge this summer.
ZGB Capital Corp.’s incubator will host space for Chinese startups looking to create or expand a U.S. presence, said Manon Palandjian, spokeswoman for landlord Intercontinental Real Estate of Boston.
ZGB Capital was formed in 2014 as a subsidiary of Zhongguancun Development Group, a state-owned enterprise of the Beijing government that owns a 4-million-square-foot tech park in Beijing.
Since then, ZGB Capital has opened innovation centers in Silicon Valley, Ottawa, Helsinki and Heidelberg, Germany to foster partnerships with foreign companies and investors. The 70,000-square-foot Santa Clara, California center includes pitch rooms, exhibition areas and incubator space for firms from the Zhongguancun tech park looking to expand in Silicon Valley.
The Cambridge facility is scheduled to open Aug. 1, Palandjian said.
ZGB’s lease brings 1000 Mass. Ave. to full occupancy. ZGB fills the space previously occupied by Cambridge College, which consolidated its campus at Hood Business Park in Charlestown last year. Robert Richards, formerly with Transwestern and now with Cushman & Wakefield, represented ZGB Capital in the 15-year lease transaction.
Intercontinental Real Estate Corp. acquired the 108,000-square-foot office building in December 2016 for $69.5 million. Completed in 1983, the four-story complex is located halfway between Harvard and Central squares.
