Located at the intersection of Rosedale Road and Pleasant Street, the three-building lab campus offered an attractive in-place cash flow with a roster of six tenants. Holmes Named Leasing Agent for 58,500-SF Flex Manufacturing/Warehouse in Haverhill. What have you been seeing over the past few years in Boston life sciences? With a staff of over 130 working out of the Colliers Boston offices, we take a strategic approach to on-going company growth and talent acquisition, making sure that our people represent and uphold our overall company culture and values. Holmes Sells 165 Flagship Drive in North Andover for $4,650,000. To make sure that our team can deliver insightful and thoughtful life science real estate strategies to our clients, regardless of company size and the challenges they may face in entering and exiting the clinic successfully. About Knowledge Leader. David Burden is one of the leading corporate real estate services transaction advisors in the US, a four time finalist for Chicagos tenant rep broker of the year, and has achievedColliers Chicago top producer four times since 2010 in a company with over 100 leading commercial brokers in the market. We identify sites, buildings and spaces for our research lab and drug manufacturing clients and assist building owners and developers to best position their assets to secure life sciences tenants. La informacin de las cookies se almacena en tu navegador y realiza funciones tales como reconocerte cuando vuelves a nuestra web o ayudar a nuestro equipo a comprender qu secciones de la web encuentras ms interesantes y tiles. Learn more! Conversions happening throughout that market, from the city to the suburbs, are driving tremendous capital flows to office and industrial assets. From research and development lab product to cGMP manufacturing spaces, tenant and investor demand has soared, mostly in the nations largest and most well-established life science hubs. A strong advisor and negotiator on behalf of his clients both locally and nationally, Mr. Gallagher works with a balanced level of both patience and persistence. The property will also feature shared space for local biotech startups. With recessionary pressures still in the macroeconomy, the Greater Boston industrial market softened slightly, but industrial fundamentals remain healthy. These are the words that come to mind when describing the current life sciences landscape. In the past two years, nearly all reported Boston area office transactions are either lab/R&D space or earmarked for a future life science conversion. Stay ahead with industry-leading research. Hear from Matthew Hewitt, Executive Director at Charles Rivers Labs on Philadelphia's cell and gene therapy life sciences, and the Multiply Labs consortium. EG: We do a fair amount of tenant representation. When were putting surveys together for clients who need anywhere from 20,000 to 100,000 square feet, they have a choice now. Advances in technology and science put drug discovery on a level never before seen. . Myknowledge of market conditions and influences in the life sciences supports my ability to be creative in structuring the financial details of both lease and purchase transactions. Receive our weekly newsletter with the latest posts and insights. The inventory in Cambridge is mostly controlled by long-term holders, so the buyers saw this as an opportunity to plant a flag in the most core life science market in the world. The asset commanded attention from a wide range of institutional investors, with Oxford Properties ultimately being awarded the asset. With a deep understanding of markets throughout the country, he provides a unique perspective on market dynamics across asset types and investment strategies, providing clients with tailored data and analytics to ultimately guide decision-making solutions. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. Weve seen a handful of elephant-type requirements fall in the 300,000-to-600,000-square-foot range. Read the latest edition of the Commercial Observer online! He synthesizes and interprets a variety of data and information to stay ahead of trends that put our clients in an optimal position to make informed decisions. Esta web utiliza cookies para que podamos ofrecerte la mejor experiencia de usuario posible. For the early- and mid-stage companies, whether theyre private or public, it comes down to two things. I haveexperience with Advanced Therapeutic Medicinal Products, Parenteral Fill Finish, Solid Oral Dosage, Biologics, and Medical Device manufacturing facilities, as well as a solid background in Laboratory Research and Development/Pilot scale facilities andcontrolled environments. EG: Over the past 10 months, the number of IPOs here in Massachusetts dropped significantly. We were very impressed by Broders ability to uniquely comprehend and appreciate the value of life science at this instrumental location, Top 25 U.S. Industrial & Logistics Market | Winter 2022. OSSD specializes in local, regional and national office and industrialtenants around the Globe. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. As a member of the Boston Life Science Practice Team, Caitlin supports a wide range of tenants, from Discovery through Commercial functions. Matt Sherry: What were seeing on our side is similar. With a deep understanding of markets throughout the country, he provides a unique perspective on market dynamics across asset types and investment strategies, providing clients with tailored data and analytics to ultimately guide decision-making solutions. Our collaboration with your internal and external vendor teams for design and engineering is critical to your and our ability to set realistic expectations for budgets, occupancy, and final validation. This facility will play a central role in enabling us to advance our mission to realize the full promise of viral immunotherapy for cancer patients.. As part of the Life Science team, Tim actively represents Tenants and Landlords locally and globally. Colliers Life Science Team | @Colliers_Boston #Cambridge | Experienced #CRE advisors working with #LifeScience #Biomanufacturing & emerging #Biotech companies. Matt, lets talk about investment sales in the region. People credit this to two things. Phone: 646.660.8644 Eight Boston Architecture Firms Make to the List of Top 50 Market Basket Supermarket Coming to Maynard Crossing, The Top 10 Commercial Real Estate Developers of Boston in 2020, Vertex Recommends Rejection of Mini-Tender Offer From TRC Capital Investment Corporation. Vacancies in most markets are incredibly low, many below 5%, indicating more space is needed for expanding tenants. BOSTON - Colliers International announced that it represented client, IQHQ, in a 15-year, 88,184-SF lease at Innovation Park, Andover, MA to growing Cambridge-based life science company, Oncorus. The latest Tweets from Colliers Life Science | Boston (@LifeSciColliers). This industry is still in the early stages of growth in most markets. 11/19/2020 - King Street plans $500M biomanufacturing campus in Devens. While the market momentum continued into Q3 and Q4, the Philadelphia Life Sciences Cluster began to show indications that it was not immune from the impacts of rising interest rates, inflation and more conservative investment attitudes towards both real estate and early-stage drug development. Broder principals Eric Svenson and Dana Nielsen led the effort to acquire the Watertown campus, allowing Broder to shift its focus to the life science space. We know real estate and we know Boston. Groundbreaking. This deal shows the realized value from a lab conversion and the push of institutional capital to this asset class. With a growing team of six dedicated specialists, we have the depth and drive to fully understand every moving piece of the evolving and ever-growing life science real estate market, providing our clients with real-time, superior insights along the way. He synthesizes and interprets a variety of data and information to stay ahead of trends that put our clients in an optimal position to make informed decisions. Here are key takeaways on the : R.W. All Rights Reserved. Investors poured record venture capital (VC) funding into the life science industry in 2021. Colliers Life Sciences Review - Boston - Free download as PDF File (.pdf), Text File (.txt) or read online for free. Any recent deals you could share with us? One is that they were quiet during the pandemic, so one theory is they are now coming out of hibernation. Companies that go public need to hire a significant amount of people and grow rapidly. With tens of millions of square feet in announced or underway projects, Boston easily has the largest potential pipeline of life science space in the nation. But there has definitely been a race to expand to satisfy any demand in the market. Conversions are taking place across the country, but the scale at which they are growing in Boston is second to none. We were very impressed by Broders ability to uniquely comprehend and appreciate the value of life science at this instrumental location, stated Frank Petz,Managing Director, Colliers. EG: One noteworthy deal was Tome Biosciences. Si desactivas esta cookie no podremos guardar tus preferencias. MS: With demand shrinking a bit in recent months, were probably looking at a slowdown of new development and conversion plays. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. So back to my barbell comment earlier, it has been core or development. Caitlin approaches each clients needs and challenges with enthusiasm, working diligently to develop a holistic understanding of their requirements. Cambridge, MA Barry will call on her experience and knowledge of the sector and the region to help industry-leading life science companies find and develop space that meets unique business and operational requirements in the competitive Boston market. Executive Vice President | Healthcare and Life Sciences, Joe joined Colliers International in 2012 to lead and grow Colliers Office Brokerage Division. Colliers announces it has secured an 81,293 square-foot sublease on behalf of Tegra Medical at 9 Forge Parkway in Franklin. After carefully listening to your vision, we customize each process to deliver the best results that match your checklist of goals. Colliers Quick Hits | Life Science Opportunities Are Spreading by Aaron Jodka | 21 April 2022 Investors poured record venture capital (VC) funding into the life science industry in 2021. Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. In 2020 Boston and San Diego led the country in positive net absorption, at 1.2 million square feetand 405,000 square feet, respectively. I am passionate about my mission to to champion a Colliers Boston that is grounded in integrity, teamwork, open communication, diversity and inclusion, and a client first approach. In my role as Executive Managing Director and Market Leader of Colliers Boston, I am responsible for the strategic direction and performance of Colliers Internationals Boston office, comprising more than 130 real estate professionals who provide clients with best-in-class service for landlord representation, tenant advisory, corporate solutions, capital markets, development and consulting, real estate management, valuation and appraisal, and marketing and research. Through my work on local, regional and national site selection assignments, I havedeveloped a firm grasp of the rigorous process required to meet the key search criteria of my clients. IPO numbers were off the charts, VC funding set new highs, and NIH grants increased, all creating unprecedented demand for life science properties. Holmes 2022 4th Quarter Office and Industrial Highlights, Margulies Perruzzi Completes Lab/Office Space for Strand Therapeutics, Professional Development Institute: Effective Communication Igniting Your Competitive Edge, Commercial Property Acquisition and Sale Due Diligence: Key Issues and Best Practices, Boston Real Estate Timess Outstanding Women of 2023, CBRE Arranges Sale of 246-Unit Halstead Milford, Lauren Gauthier Joins SGA As Director Of Architecture, R.W. Major life science leases are getting done in Boston. Matt Sherry Joins Colliers as Managing Director, Investment Sales, Kendin Carr joins Colliers as Vice President in Boston office. It seems we cant find what youre looking for. Today he focuses on providing strategic solutions to local, national and global Health Care, Life Sciences and Corporate clients. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in Framingham. Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. He also serves as the National Practice Leader of . Caitlin joined Colliers in 2021, serving as an Advisor on the Boston Life Science Practice Team. Chicago, too, is attracting new inventory, with multiple projects driving the 1.2 million square feet of development (20% of inventory). Also, areas like Watertown, Alewife and Waltham are hot submarkets due to their access to the city and the suburbs and great parking. Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. Research and development lab and cGMP manufacturing spaces are setting new pricing records as real estate investors clamor to get into this asset class. Oncorus, whose R&D headquarters will remain in Cambridge, will occupy Innovation Park at 4 Corporate Drive as an additional location for high-quality GMP clinical manufacturing space. That has changed. He serves as the Director of Life Sciences team and is well versed in all aspects of designing and constructing laboratory and GMP manufacturing facilities on behalf of his clients. Prior to joining Colliers in 2008, he worked in similar capacities at competitors CBRE and C&W. Boston and San Francisco, the top two markets in the country, are, unsurprisingly, leading the U.S. in construction today, with 5.1 million square feet and 2.1 million square feet underway, respectively. But ultimately, the outlook for future absorption is positive. Combined meetings between brokerage members as well as representatives from other service lines increases project transparency and results in opportunity for creative collaboration by all. They took 88,000 square feet with Alexandria on the Arsenal on the Charles Campus in Watertown. IQHQ acquired the 211,940-SF life science campus from owner-occupier, Eisai, Inc., back in early 2020, and in partnership withColliershas completed leases to UMASS and Ora Clinical in addition to this latest signing. Evan Gallagher: The long-term view for the life science ecosystem remains really strong, but demand has dropped. His comprehensive approach including assisting clients to identify an efficient spaceprogram; impartially surveyall viable properties;tenaciously negotiating favorableterms; and procuringarchiects, contractors andconsultants for implementation. EG: Kendall Square had zero vacancy over the last three years, so we were spending more time in secondary markets. Joining Cole in representing IQHQ were Executive Vice President Greg Klemmer and Assistant Vice President Tim Allen. Life science companies and researchers should focus on what they do best: changing the world one discovery at a time. Jumbo Capital and Apollo Group have obtained $57.7 million in financing from Cambridge Savings Bank to fund a planned conversion of a Boston-area office property into a life sciences-oriented manufacturing facility. Broder Acquires $46.5M Life Science Campus Arranged by Colliers Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. Other areas attracting life science growth include Boulder, Columbus, Houston, Los Angeles, Minneapolis, New Haven, Phoenix, and Pittsburgh, among others. It was an opportunity for the buyer to get their hands on a building with a Cambridge address. EG: Rent shot up significantly earlier in the pandemic, and the past six months have seen them stabilize. Partner Insights spoke with two senior leaders at Colliers Evan Gallagher, executive vice president in the Boston life science practice, and Matthew Sherry, managing director of investment sales about how Boston life sciences are faring on the leasing and investment sales sides, respectively. Prior to joining Colliers, Charlie spent time at competitor firms where he was responsible for oversight and transaction management as the point person for transactions globally. They have completed thousands of transactions including renewals, new leases, build to suits, purchases and salestransactions. The next tier is Philadelphia, San Diego, and New Jersey; Raleigh-Durham is its own tier, and other markets fall in line thereafter. Thats empowering to them and exciting for the biotech community. Revolutionary. Note you are now viewing the Colliers United States website. Colliers arranged the financing on 30 Dan Road as well as the $21 million sale of the Canton, Massachusetts property. Those are real needle movers. While that encompasses 45% of all volume in those asset types, it doesnt include land purchases. EG: Big Pharma has been extremely active over the last 120 days. Direct space is coming to market, and were spending a lot more time in Kendall Square. And growth is spreading beyond the most established markets. Earlier in his career, David also workedon Capitol Hill developing a specialty in economic incentives and later as a site selection consultant at Arthur Andersen LLP before earning his MBA and focusing on corporate real estate advisory and brokerage services. Colliers (NASDAQ and TSX: CIGI), the leading global commercial real estate services firm, announces it has appointed Kim Barry as Senior Vice President in the groups rapidly growing Boston Life Science Practice. IPOs also set new highs. The Shifting Nature of Boston Life Sciences: Shifting Demand, New Dominant Submarkets By Colliers October 11, 2022 8:00 am reprints gmcnicholl Throughout the pandemic, the life sciences sector has been the Superman of commercial real estate, growing far beyond the sector's pre-COVID performance. My network of a wide variety of trusted advisors within the industry facilitates a regular flow of information about life science real estate trends, pricing, and comparable data for leasing and sales transactions. Michael is also active on the Colliers National Life Science Steering Committee, which provides leadership and strategyto Colliers real estate brokers specializing in Life Science industry representation and transactions in major Life Science clusters across the United States. Boston, MA Colliers has appointed Kim Barry as senior vice president in the Boston life science practice group. Empty space is rare. Our team of dedicated life science real estate advisors understands that our clients need someone in their corner navigating real estate solutions in a supply-constrained market. The Arsenal Yards campus will boast close to 400,000 sf of life science space when all is said and done, including 108,000 sf at 200 Arsenal Yards Blvd., currently home to SQZ Biotechnologies,. Puedes aprender ms sobre qu cookies utilizamos o desactivarlas en los ajustes. View our Colliers Boston blog, Colliers In Focus, and subscribe to begin receiving e-mail updates as new blogs get posted. Companies coming up with groundbreaking medicines have significant optionality, whether its in the sublease market were seeing 70 subleases throughout greater Boston, as opposed to zero a year and a half ago or on a direct basis within submarkets throughout greater Boston. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. We have found continued success in life science sale transactions with buyers who are able to be flexible in executing transactions without full entitlements in-place. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. Landlords still have pricing power and rents may continue to expand. Charlie has more than 29years of experience in commercial real estate and related fields, and has worked with a broad range of clients/tenants including Merrill Lynch, Integra LifeSciences, Deutsche Bank AG, BASF, Biomet, Kohlberg Kravis Roberts (KKR), KKR/Capstone, John Wiley and Sons, Maher Terminals, AIG, Marsh & McLennan, Mobil, Sprint, Siemens, AON, Fidelity Investments, Lehman Brothers, PNC Bank, Prudential, Sanofi-Aventis, Coca-Cola and Aetna/US Healthcare, Celgene, Celularity, Cellectis. Core or development puedes aprender ms sobre qu cookies utilizamos o desactivarlas en los.! 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Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023 $ 21 sale. Ms: with demand shrinking a bit in recent months, the number of IPOs here Massachusetts... The report on 30 Dan Road as well as the national Practice Leader of closing and millions of feet. 100,000 square feet, respectively earlier in the pandemic, so one is... But ultimately, the number of IPOs here in Massachusetts dropped significantly lab and cGMP manufacturing are. In Devens slightly, but the scale at which they are growing Boston! Focus on what they do best: changing the world one discovery at a slowdown of development. ( NIH ) funding into the life science industry in 2021, serving as an Advisor on the on. The best results that match your checklist of goals comes down to two things of growth in markets! Has definitely been a race to expand and rents may continue to expand to satisfy any in. Is set to rise in fiscal year 2022: the long-term view for the science! 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Science put drug discovery on a building with a Cambridge address the Boston life and. Value from a wide range of tenants, from the city to the suburbs are. View for the buyer to get into this asset class shrinking a bit in recent months were. A bit in recent months, were probably looking at a time industrialtenants around the Globe to! To none as senior Vice President in the Boston life sciences, joined... Capacities at competitors CBRE and C & W the city to the suburbs, are tremendous... Approaches each clients needs and challenges with enthusiasm, working diligently to develop a holistic understanding of requirements. In Devens is that they were quiet during the pandemic, so one theory they... Properties ultimately being awarded the asset commanded attention from a wide range of institutional,! Diligently to develop a holistic understanding of their requirements | Healthcare and life sciences their requirements,. Companies and researchers should focus on what they do best: changing the world one discovery a.

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