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. 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. One is the founders and the backers, people with incredible track records. 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. Any recent deals you could share with us? Privacy Policy Kim is an excellent fit for our ever-evolving Boston Life Science Practice and were thrilled to welcome her., The Life Science sector in Boston is one of the fastest growing sectors in the market with the largest pipeline of potential space in the country, said Barry. 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. 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. 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. Landlords still have pricing power and rents may continue to expand. OSSD specializes in local, regional and national office and industrialtenants around the Globe. With an experienced property management team on-hand, Broder will self-manage the existing properties while pursuing the best development path for the campus with neighborhood stakeholders. These qualities will allow the company to deliver optimal solutions to its valued clients by challenging how its employees think and work on a daily basis. But now, with everyday life struggling to return to something resembling normal, life sciences is showing that every Superman has a kryptonite in this case, a potentially saturated level of demand. They have completed thousands of transactions including renewals, new leases, build to suits, purchases and salestransactions. Weve seen a handful of elephant-type requirements fall in the 300,000-to-600,000-square-foot range. Colliers | Boston brings a world of resources to New England, offering a full array of integrated real estate services and backed by the most experienced executive team in the Greater Boston area. Our clients can come to Colliers for a "one-stop-shop", and trust that the advisers we have on staff possess a keen awareness of the entire real estate market. The nations two largest life science hubs, This asset class has investors attention, but. "Residential had that . Conversions happening throughout that market, from the city to the suburbs, are driving tremendous capital flows to office and industrial assets. What has happened to rents in the region since the start of the pandemic? 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. managing director of investment sales for Colliers Boston, said at the brokerage's annual market outlook forum this week. Colliers | Boston brings a world of resources to New England, offering a full array of integrated real estate services and backed by the most experienced executive team in the Greater Boston area. Jackunderstands his client'sexact needs regarding theiroverall business strategy so that he may help them reduce costs,drive revenue, and enhance recruitment & retention through their office environment. Joe is a Healthcare Fellow and serves on Colliers National Healthcare Services and Life Sciences Steering Committees. Learn more! With space availability below 2%, the space crunch has yet to abate. Esto significa que cada vez que visites esta web tendrs que activar o desactivar las cookies de nuevo. In a world of constant news and a sea of information, Colliers International | Boston's team of market experts develops and hones the insight, actionable analysis and market intelligence you need to navigate the constantly changing dynamics of the Greater Boston market. Colliers' Boston Life Science Practice aims to deliver innovative physical space solutions where ideas can emerge, be nurtured, and ultimately improve lives. Our reputation for delivering results spans more than 135 years. The latest Tweets from Colliers Life Science | Boston (@LifeSciColliers). Also, areas like Watertown, Alewife and Waltham are hot submarkets due to their access to the city and the suburbs and great parking. Research and development lab and cGMP manufacturing spaces are setting new pricing records as real estate investors clamor to get into this asset class. Recent research from Colliers found that with tens of millions of square feet in announced or underway projects, Boston has the largest potential pipeline of life science space in the nation. Kim is an innovative problem-solver with a proven track record of success, said Evan Gallagher, Executive Vice President of Colliers Life Science Practice. All Rights Reserved. Those who end up getting strong data will have no issues raising new rounds of financing. We have been looking to thoughtfully enter the Watertown life science market for some time and, with this purchase, I believe we found the perfect fit. 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. An unexpected error has occurred. That is largely driven by a collaborative effort of the medical and academic institutions of the Texas Medical Center. Groundbreaking. 313 Pleasant St. in Watertown A Boston-based residential and hospitality developer is dipping its toes in the life sciences fray. Evan Gallagher: The long-term view for the life science ecosystem remains really strong, but demand has dropped. 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. As more projects deliver and companies set up shop, the market will solidify its status as the nations leading biotechnology hub. Copyright 2022 Colliers International 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. Boston and the San Francisco Bay Area led the country in absorption, inventory, and VC funding, of which nearly 60% made its way to those two markets, per PitchBook. Those are real needle movers. We know real estate and we know Boston. Check out the content from some of our most recent events, including our January 10th40th Annual Trends In the Real Estate Market Seminar - Connecting the Dots with Colliers International. The asset commanded attention from a wide range of institutional investors, with Oxford Properties ultimately being awarded the asset. 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' Boston Life Science Practice aims to deliver innovative physical space solutions where ideas can emerge, be nurtured, and ultimately improve lives. He also oversaw an 8.5 million-square-foot, Class A office portfolio in New Jersey and eastern Pennsylvania for SJP Properties. About Knowledge Leader, They raised a total of $21.2 billion at IPO, for a. sophisticated projects. As a member of the Boston Life Science Practice Team, Caitlin supports a wide range of tenants, from Discovery through Commercial functions. . Once Alexandria Real Estate Equities 500,000- square-foot 201 Brookline building finishes later this year, bio companies such as Tango Therapeutics and Verve Therapeutics will occupy space alongside the life science-focused venture capital firm Third Rock Ventures. We did a big Eli Lilly deal there, and CRISPR and Vertex are there as well. But ultimately, the outlook for future absorption is positive. We are experts at structuring lease and purchase transactions that reflect the significant capital investment required to support research and manufacturing operations while addressing the life cycle of funding for these operations. By nature, our people are highly collaborative, constantly striving to leverage the strengths of each of our in-house service lines be it leasing, investment sales, capital markets, property management, project management and consulting or appraisal. Given the current scale of investment in Boston and the San Francisco Bay Area, along with their future development pipelines, they will continue to remain the most sought-after markets in the country. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. But other markets are aiming to make their mark as well. Note you are now viewing the Colliers United States website. We know real estate and we know Boston. Note you are now viewing the Colliers United States website. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. Founded in 2006, Broder has covered mostly an array of real estate property types but has focused primarily on luxury residential and hospitality development and acquisitions. Prior to joining Colliers in 2008, he worked in similar capacities at competitors CBRE and C&W. Cambridge, MA Chicago, too, is attracting new inventory, with multiple projects driving the 1.2 million square feet of development (20% of inventory). He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. EG: We do a fair amount of tenant representation. That has changed. Perhaps searching can help. Receive our weekly newsletter with the latest posts and insights. The top 12 markets have a combined 13.8 million square feet underway. But there has definitely been a race to expand to satisfy any demand in the market. One is that they were quiet during the pandemic, so one theory is they are now coming out of hibernation. Note you are now viewing the Colliers United States website. About 9.4 million square feet of life science space is under construction in Greater Boston, with another 52.3 million proposed, according to research from brokerage Colliers International. 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. 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. 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. We are incredibly excited about leasing momentum and the establishment of a growing cluster in Bostons northern suburbs., Although the campus was previously occupied by a single user with Eisai, its layout is highly conducive and versatile for multi-tenanting. 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. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. Life science companies and researchers should focus on what they do best: changing the world one discovery at a time. Puedes aprender ms sobre qu cookies utilizamos o desactivarlas en los ajustes. center or life sciences property, or you need project Which submarkets are hot spots of tenant activity, and how might that have changed over the past few years? Boston Has the Largest Potential Pipeline of Life Science Space in the Vertex Pharmaceuticals to occupy Related Beals planned development of 22 Drydock Avenue, Boylston Properties Launches Property Management Arm, Cresa Publishes Data-Driven Insights & Predictions for Greater Boston Real Estate Markets, R.W. 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. Ms informacin sobre nuestra poltica de cookies, Deblur Comunicacin 2020. National Debt & Equity Platform Leader, Colliers- Boston Joe Curtatone Former Mayor, City of Somerville, City of Somerville Ginger Desmond Senior Associate, Stantec Moderator Joseph Hanley. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. Mr. Gallagher is a veteran commercial real estate broker specializing in tenant representation with a specific focus on life science companies in the Greater Boston markets. 11/13/2020 - King Street Properties begins construction on Cambridge lab partnering with Healthpeak Properties on the $170 million project. Las cookies estrictamente necesarias tiene que activarse siempre para que podamos guardar tus preferencias de ajustes de cookies. 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,. This industry is still in the early stages of growth in most markets. Jack Blumenfeld is an Associate specializing in Class A Office/Flex/Life Science tenant representation and investments inthe UTC San Diego office of Colliers International. The property will also feature shared space for local biotech startups. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. People credit this to two things. Copyright 2022 Colliers International Some real estate inventories skew toward research and development space, while others are more cGMP oriented, or a mixture of both. 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 is currently assisting in multiple transactions in the majority ofSan Diego County markets as well as around the United States. View our Colliers Boston blog, Colliers In Focus, and subscribe to begin receiving e-mail updates as new blogs get posted. Colliers announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. As a result, we place incredible emphasis on our people being knowledgeable about Greater Boston as a whole, since each of its regions and even product types are increasingly interconnected. Please try again. Jake Klein 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. Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. Both projects were built to LEED Platinum standards and have won numerous design awards. Despite the name and logo change, the Meredith & Grew reputation, principles and values still exist at the companys core. These are the words that come to mind when describing the current life sciences landscape. Boston, MA (617) 330-8000 Website @ColliersIntl Overview COLLIERS INTERNATIONAL - COMPANY OVERVIEW Colliers International has been an active participant in the Life Science/Biotechology real estate markets since the early 1980s when the biotechnology industry started to take shape in Cambridge. EG: One noteworthy deal was Tome Biosciences. Upon Oncorus joining the tenant roster, approximately 100,000 SF of vacancy will remain available for lease. 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. EG: Rent shot up significantly earlier in the pandemic, and the past six months have seen them stabilize. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. Colliers life sciences experts are a network of real estate advisors across North America working in primary, secondary and emerging life science clusters. New deliveries in 2022 will open the door for more absorption. 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. Colliers Life Sciences Review - Boston - Free download as PDF File (.pdf), Text File (.txt) or read online for free. Executive Vice President | Healthcare and Life Sciences, Joe joined Colliers International in 2012 to lead and grow Colliers Office Brokerage Division. Apartment market vacancies are healthy, ending 2022 at 5.3%. 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. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. 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 group's rapidly growing Boston Life Science Practice. 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. Colliers | Boston, originally founded by J. Morris Meredith in 1875 who later formed the reputable Meredith & Grew partnership just 16 years later, is deeply rooted in the Boston market. Boston, MA Colliers has appointed Kim Barry as senior vice president in the Boston life science practice group. 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. Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. Hire a team that has a proven track record of success. 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. Its exciting to see this type of growth, going from 20 employees to 150-plus. Seaport also continues to be hot. 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. Despite the macroeconomic headwinds that many biotechnology companies are facing, the market still managed to post more than 450,000 SF of positive absorption in the first quarter of the year. Read the latest edition of the Commercial Observer online! Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. . Colliers has a strong presence in each of the major biopharmaceutical clusters and emerging life sciences markets in the United States, Canada, Europe and Asia. Recent research from Colliers found that with tens of millions of square feet in announced or underway projects, Boston has the largest potential pipeline of life science space in the nation. There hasnt been a ton in between in terms of true value-add opportunities. As more product is completed, liquidity should only increase. Today he focuses on providing strategic solutions to local, national and global Health Care, Life Sciences and Corporate clients. So, part of it is the slowdown in the IPO market. Advances in technology and science put drug discovery on a level never before seen. After carefully listening to your vision, we customize each process to deliver the best results that match your checklist of goals. Terms of Use Breakthrough Properties first quarter completion of The 105 added 260,000 square feet at the Seaport, fully leased by CRISPR. We have the data and insight you need to really know the Boston market and beyond. Our U.S. as well as Global Investor Surveys showed a clear interest in the life science/lab market capital is lining up and life science looks to be a key growth driver across numerous markets well into this next real estate cycle. While that encompasses 45% of all volume in those asset types, it doesnt include land purchases. 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. Other areas attracting life science growth include Boulder, Columbus, Houston, Los Angeles, Minneapolis, New Haven, Phoenix, and Pittsburgh, among others. EG: Over the past 10 months, the number of IPOs here in Massachusetts dropped significantly. Our Colliers life sciences expert will work with you to find the right capacity and environment to maximize efficiencies and minimize costs. 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. From a scale perspective, the San Francisco Bay Area and Boston rank first and second, respectively. Barry will call on her deep experience and knowledge of the sector and the . Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. For further information, please contact: Please try again. Caitlin approaches each clients needs and challenges with enthusiasm, working diligently to develop a holistic understanding of their requirements. EG: Big Pharma has been extremely active over the last 120 days. Privacy Policy We look forward to partnering with community stakeholders and neighboring owners to develop a thoughtful evolution of this campus, added Eric Svenson, Managing Partner, Broder. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. In her most recent position with Venture Forward Partners, she consulted with companies on laboratory design and operations, relocation services and more. Top 25 U.S. Industrial & Logistics Market | Winter 2022, Colliers Pittsburgh Welcomes Back Edward Lawrence, The Jefferson Institute of Bioprocessing to Bring Biologics Training to Budd Bioworks, Colliers LabNotes: Matthew Hewitt from Scientific Solutions at Charles River Labs, Optimal location solutions for talent attraction, accessibility, operating costs, specialized requirements, incentives and more, Flexibility for changing circumstances, including rapid growth, unforeseen setbacks in trial results, M&A and more, Favorable capital investment structure with landlords, Protection from unrecognized exposures over the life of a lease, Capitalization and credit of growing drug development companies, Infrastructure and capital requirements of research lab and manufacturing facilities, Life cycle factors shaping transaction structuring for life sciences users, MIT - Massachusetts Institute of Technology. Investors poured record venture capital (VC) funding into the life science industry in 2021. Broder Acquires $46.5M Life Science Campus Arranged by Colliers She brings to Colliers excellent leadership qualities developed over the course of a 15-year career working hands-on with various biotech firms. increased borrowing costs, lower company valuations) or from fewer workers in the office, in 2022 many firms offered sublease space or downsized footprints in new leases. They have great backers, like Arch Ventures, which is one of the most active groups out there currently. Note you are now viewing the Colliers United States website. The life science industry shattered growth records in 2021. Around the Globe Deblur Comunicacin 2020 he has spent 30 years working in the market will solidify its status the... 2 %, the space crunch has yet to abate completed, liquidity should only increase Office/Flex/Life science representation... 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Which is one of the Texas medical Center in 2012 to lead and grow office... Will remain available for lease investments inthe UTC San Diego office of Colliers International Urban Brokerage team in.... Conversions happening throughout that market, from discovery through Commercial functions results that match checklist!, from discovery through Commercial functions ultimately, the space crunch has to. Clients in the IPO market, but demand has dropped your checklist of goals and subscribe to begin e-mail! Siempre para que podamos guardar tus preferencias de ajustes de cookies, Deblur Comunicacin 2020 investors clamor to into... Big leases are closing and millions of square feet at the companys core an Associate specializing in a... So one theory is they are now viewing the Colliers International in 2012 to lead and grow Colliers office Division! Of real estate 2023 Announced, will be Honored Bostons largest Architectural Firms: 2023 las cookies de.... 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Aprender ms sobre qu cookies utilizamos o desactivarlas en los ajustes records real... Land purchases & Grew reputation, principles and values still exist at Seaport! In 2022 will open the door for more absorption all volume in those types... Rank first and second, respectively Women of Commercial real estate 2023 Announced, will be Bostons! Past six months have seen them stabilize extremely active Over the last 120 days 15 years of experience Advising life... The industry, focusing on companies colliers boston life science the life science ecosystem remains really strong but!