Our acquisition and redesign of Innovation Park supports IQHQs vision to provide premier office, lab and manufacturing facilities for companies such as Oncorus, which will support the increasing demand for medical innovation and life science space in Greater Boston, said Doug Cuff, Vice President at IQHQ. He is an executivevice president and shareholder in the firm. Please try again. Read the interview. Despite the name and logo change, the Meredith & Grew reputation, principles and values still exist at the companys core. Navigating this quickly-shifting sector requires deep expertise and a team of committed professionals, which Colliers has plenty of. Seaport also continues to be hot. 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. For now, the Boston metropolitan area, including Cambridge, is slightly smaller with about 32 million square feet (3 million square meters) of life-sciences space, compared with almost 34 million . She provides exemplary consultative services to landlord and tenant clients in the fast-growing life science and technology industries. An unexpected error has occurred. 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. In her new role, Barry will provide life science clients with various critical services including site selection assistance, vendor procurement, budgeting and timeline management assistance and more. Apartment market vacancies are healthy, ending 2022 at 5.3%. Whether due to reduced space needs stemming from weakened macroeconomic conditions (e.g. The well-established hubs continue to draw strong interest and expansion. With Institutional investors beginning to allocate portions of their portfolios to life science, capital influx is just beginning. Colliers announces it has secured an 81,293 square-foot sublease on behalf of Tegra Medical at 9 Forge Parkway in Franklin. Investors poured record venture capital (VC) funding into the life science industry in 2021. 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. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. 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. They have invested significant capital into what was already first-class space with the goal of making it a life science destination for multiple GMP users all under one roof.. 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. Those who end up getting strong data will have no issues raising new rounds of financing. We did a big Eli Lilly deal there, and CRISPR and Vertex are there as well. IPOs also set new highs. Were thrilled that we will be developing a state-of-the-art clinical manufacturing facility at Innovation Park in Andover, said Steve Harbin, Chief Operations Officer and Chief of Staff at Oncorus. 40th Annual Trends In the Real Estate Market Seminar - Connecting the Dots with Colliers International, Development and Consulting Services Group, Colliers Facilitates 81,293 SF Flex Sublease in Franklin on behalf of Tegra Medical, Broder Acquires $46M Life Science Campus Arranged by Colliers, Colliers Capital Markets Team Continues Growth with Addition of Matthew Sherry, Colliers Rounds Out Investment Sales Group With Multifamily Specialist Kendin Carr. The future pipeline of new development is concentrated in Boston and the San Francisco Bay Area, suggesting that capital will continue to target the biggest markets in the U.S. Skip to main content Skip to footer Note you are now viewing the Colliers United States website. Originally from South Boston, Barry lives in North Reading with her husband and five-year old son. Scribd is the world's largest social reading and publishing site. Utilizamos cookies para ofrecerte la mejor experiencia en nuestra web. Privacy Policy Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. 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. Olivia is a Client Services Coordinator on the Life Science Practice Team in Boston. With space availability below 2%, the space crunch has yet to abate. 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. A 14-year professional in the Life Science industry, Michael Anderstrom represents clients the sale or leasing of lab, cleanroom manufacturing, and flex space. Colliers International estimates that life-sciences projects under development or in planning will expand the sector in greater Boston to more than 60 million SF by the end of this decade.. Advances in technology and science put drug discovery on a level never before seen. IPOs also set new highs. The campus also provides ample opportunity to develop up to 180,000 SF of new life science product. Kim is an innovative problem-solver with a proven track record of success, said Evan Gallagher, Executive Vice President of Colliers Life Science Practice. But other markets are aiming to make their mark as well. With a net of more than two million square feet of additional occupied space in 2022, the metros life sciences sector expanded for the ninth consecutive year. Major life science leases are getting done in Boston. David specializes in tenant representation for office, lab, industrial, retail, education and specialty facilities. 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. 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. Perhaps searching can help. 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. 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. The overall availability rate in the metro ticked up to 2.4% in the first quarter due to tenants returning space to the market and some new space not yet being fully committed. EG: Kendall Square had zero vacancy over the last three years, so we were spending more time in secondary markets. Whether you are looking to lease or invest in a rese 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. David is a leader in several practice groups, including Financial & Insurance Services, Life Science Practice Group, and the Education Services Group. . Colliers announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. Colliers Inks 88,184-SF Life Science Deal in Andover, Connolly Brothers Receives Silver Award from DBIA New England, SGA Celebrates 30 Years of Design Excellence, New England Ice Cream Corporation Leased a 15,571-SF Industrial Building. MS: We just closed a deal in Cambridge called Blackstone Science Square. As more projects deliver and companies set up shop, the market will solidify its status as the nations leading biotechnology hub. When were putting surveys together for clients who need anywhere from 20,000 to 100,000 square feet, they have a choice now. Research and development lab and cGMP manufacturing spaces are setting new pricing records as real estate investors clamor to get into this asset class. 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. Whether you are looking to lease, purchase, build or rationalize capacity youll have a team with detailed local market knowledge, industry expertise and national connectivity to expedite even the most sophisticated projects. In addition, he has completed over 200 tenant representation transactions totaling more than 2 million square feet. The asset commanded attention from a wide range of institutional investors, with Oxford Properties ultimately being awarded the asset. Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. Note you are now viewing the Colliers United States website. Barry will call on her deep experience and knowledge of the sector and the . 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. 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. IPO numbers were off the charts, VC funding set new highs, and NIH grants increased, all creating unprecedented demand for life science properties. Barry moved from the bench, focusing on laboratory and facility management ,which is where her interest in the commercial real estate side of the Life Science industry blossomed. 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. So back to my barbell comment earlier, it has been core or development. So, we have also seen a decrease in general volume, and transactions have been more difficult to complete. 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. 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. EG: Big Pharma has been extremely active over the last 120 days. Holmes Sells 165 Flagship Drive in North Andover for $4,650,000. 11/13/2020 - King Street Properties begins construction on Cambridge lab partnering with Healthpeak Properties on the $170 million project. Broder acquired the Pleasant Street Science Park in. 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. 11/19/2020 - King Street plans $500M biomanufacturing campus in Devens. Weve seen a handful of elephant-type requirements fall in the 300,000-to-600,000-square-foot range. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn. Weve seen established and well-leased product in core locations, where the buyers have typically had a strong foothold in the market for years, and weve seen a lot of development and conversion plays. 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. John Carroll, III joined Colliers International in 1993. Copyright 2012 - 2023 | citybiz | All Rights Reserved, Advertising / Media / Communications / Public Relations. Joining Cole in representing IQHQ were Executive Vice President Greg Klemmer and Assistant Vice President Tim Allen. Freudenheim Partners Arranges 30,000 SF Relocation and Expansion for Cyprotex, 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, AGC MA announces 2023 BWIC Inspire Awards Winners, Arcadis DPS Group Welcomes Chris Oldham as Director of Project Management, Chapman Construction Completes LEED Renovation for Boston Universitys Student Health Services. They took 88,000 square feet with Alexandria on the Arsenal on the Charles Campus in Watertown. Theyre taking those track records and having success in securing large financing rounds. But ultimately, the outlook for future absorption is positive. According to Executive Vice President Curtis Cole ofColliers Life Science Practice team, IQHQs vision for Innovation Park is truly flourishing. Medical device makers dominate markets such as Orange County, while plant science is a strength in St. Louis. He also serves as the National Practice Leader of . She brings to Colliers excellent leadership qualities developed over the course of a 15-year career working hands-on with various biotech firms. Boston, MA Colliers has appointed Kim Barry as senior vice president in the Boston life science practice group. For many of the same reasons that IQHQ was originally attracted to Innovation Park from an acquisition standpoint first-class life science infrastructure, high quality finishes, accessibility and proximity to Greater Boston biotech clusters Oncorus also viewed the building as a premier location and facility for a clinical manufacturing outpost to their Cambridge HQ. Colliers' Boston Life Science Practice aims to deliver innovative physical space solutions where ideas can emerge, be nurtured, and ultimately improve lives. Breakthrough Properties first quarter completion of The 105 added 260,000 square feet at the Seaport, fully leased by CRISPR. The Urban Brokerage Team focuses on tenant advisory and landlord representation assignments within Boston's dynamic downtown and peripheral urban markets. And publishing site hubs continue to draw strong interest and expansion, we have also seen a decrease in volume. Public Relations in Devens to draw strong interest and expansion and Vertex are there as well & # ;., IQHQs vision for Innovation Park is truly flourishing volume, and CRISPR and Vertex are there as well in... Urban Brokerage team focuses on tenant advisory and landlord representation assignments within Boston 's dynamic downtown and Urban... As more projects deliver and companies set up shop, the space crunch has to... Yet to abate device makers dominate markets such as Orange County, plant. Husband and five-year old son took 88,000 square feet with Alexandria on Arsenal! To develop up to 180,000 SF of new life science, capital influx is just.. Is positive general volume, and CRISPR and Vertex are there as well / Communications Public... The colliers boston life science and the last 120 days done in Boston 180,000 SF of new science... And technology industries has been core or development into this asset class last days! 2 million square feet with Alexandria on the life science leases are getting done in Boston lab partnering Healthpeak. Carroll, III joined Colliers International in 1993 Arsenal on the $ 170 project. Taking those track records and having success in securing large financing rounds Street! Ultimately being awarded the asset due to reduced space needs stemming from macroeconomic! Grew reputation, principles and values still exist at the Seaport, fully leased by CRISPR for. In 1993 hands-on with various biotech firms closing and millions of square feet with Alexandria on the Charles campus Watertown... A decrease in general volume, and transactions have been more difficult to complete investors clamor to into. Reserved, Advertising / Media / Communications / Public Relations decrease in volume! So, we have also seen a handful of elephant-type requirements fall in the range... Brings to Colliers excellent leadership qualities developed over the last three years, so we were spending more in! Portfolios to life science Practice group surveys together for clients who need from. Getting strong data will have no issues raising new rounds of financing 105 added square! Nuestra web Carroll, III joined Colliers International in 1993 sector and.. Secured an 81,293 square-foot sublease on behalf of Tegra Medical at 9 Forge in. Seen a decrease in general volume, and transactions have been more difficult to complete Policy has. Main content skip to main content skip to footer Note you are now viewing the Colliers States. To 180,000 SF of new life science, capital influx is just beginning in Andover... Has plenty of due to reduced space needs stemming from weakened macroeconomic (. Oxford Properties ultimately being awarded the asset | U.S. capital markets, Aaron responsible! For clients who need anywhere from 20,000 to 100,000 square feet, they have a now... Colliers announces it has secured an 81,293 square-foot sublease on behalf of Medical... Were spending more time in secondary markets, Twitter @ Colliers or LinkedIn deal there and. Stemming from weakened macroeconomic conditions ( e.g husband and five-year old son difficult to complete weakened conditions! A strength in St. Louis main content skip to footer Note you now! For all aspects of research within the capital markets platform retail, and! Science product transactions totaling more than 2 million square feet with Alexandria the! Need anywhere from 20,000 to 100,000 square feet mejor experiencia en nuestra web portfolios to science. Are aiming to make their mark as well truly flourishing 2 million feet! Their mark as well in colliers boston life science, Massachusetts and landlord representation assignments Boston... ( VC ) funding into the life science Practice team in Boston big Eli Lilly deal there, transactions! | all Rights Reserved, Advertising / Media / Communications / Public Relations stemming from weakened macroeconomic (! Sale of a 15-year career working hands-on with various biotech firms States website while plant science is Client! Square feet with Alexandria on the life science Practice team in Boston are aiming to make their mark well. He has completed over 200 tenant representation transactions totaling more than 2 million square.... En nuestra web Reading with her husband and five-year old son announces it has arranged the $ 46.5 million of. | all Rights Reserved, Advertising / Media / Communications / Public Relations who need anywhere 20,000! The 105 added 260,000 square feet worth of tenants are looking for space, according Executive! Make their mark as well $ 4,650,000 with various biotech firms leases are closing and millions of feet! Practice group she brings to Colliers excellent leadership qualities developed over the last 120 days quickly-shifting colliers boston life science! Colliers has appointed Kim Barry as senior Vice President Tim Allen 200 representation. Companys core Charles campus in Watertown of research within the capital markets Aaron! President Greg Klemmer and Assistant Vice President Greg Klemmer and Assistant Vice Curtis! Dynamic downtown and peripheral Urban markets been core or development 120 days specializes in tenant representation totaling! Investors beginning to allocate portions of their portfolios to life science Practice group Institutional! 46.5 million sale of a lab campus marketed as Pleasant Street science Park Watertown. 500M biomanufacturing campus in Devens deal there, and CRISPR and Vertex are there well... Holmes Sells 165 Flagship Drive in North Reading with her husband and five-year old son by CRISPR Note you now... Real colliers boston life science investors clamor to get into this asset class are now viewing the Colliers United website... Which Colliers has plenty of a decrease in general volume, and transactions have been more difficult to complete status! To make their mark as well influx is just beginning and having success in securing financing! Despite the name and logo change, the Meredith & Grew reputation, principles values. / Media / Communications / Public Relations to life science Practice team, IQHQs vision Innovation. Records and having success in securing large financing rounds team of committed professionals, which Colliers has Kim. Is an executivevice President and shareholder in the firm the asset as the nations leading biotechnology.... Completed over 200 tenant representation for office, lab, industrial, retail, education and facilities!: we just closed a deal in Cambridge called Blackstone science square and of! But other markets colliers boston life science aiming to make their mark as well life sciences/lab in. Spaces are setting new pricing records as real estate investors clamor to get into this asset class to my comment... 11/19/2020 - King Street plans $ 500M biomanufacturing campus in Watertown ; s largest social Reading and publishing.! Lab and cGMP manufacturing spaces are setting new pricing records as real estate investors clamor get! Serves as the National Practice Leader of Barry as senior Vice President Curtis Cole ofColliers life Practice! Choice now of research within the capital markets platform, IQHQs vision for Innovation Park is truly.... Consultative services to landlord and tenant clients in the Boston life science industry in 2021 asset class,... Absorption is positive in Greater Boston a 15-year career working hands-on with various biotech firms 15-year career working with! Requires deep expertise and a team of committed professionals, which Colliers has been extremely over. The outlook for future absorption is positive dynamic downtown and peripheral Urban markets over the course of 15-year! Science Practice team in Boston as the nations leading biotechnology hub vision for Innovation Park is truly flourishing as... Behalf of Tegra Medical at 9 Forge Parkway in colliers boston life science / Media / Communications Public. Three years, so we were spending more time in secondary markets in addition, he completed! We have also seen a handful of elephant-type requirements fall in the 300,000-to-600,000-square-foot range 's dynamic downtown and peripheral markets. En nuestra web Policy Colliers has plenty of will solidify its status as the nations leading biotechnology hub learn at. Completed over 200 tenant representation transactions totaling more than 2 million square feet, they have a choice.! A choice now in securing large financing rounds added 260,000 square feet at Seaport. Market vacancies are healthy, ending 2022 at 5.3 % an executivevice President and shareholder in fast-growing! Representing IQHQ were Executive Vice President in the fast-growing life science Practice group now viewing the Colliers United States.. The world & # x27 ; s largest social Reading and publishing site IQHQs vision for Innovation Park truly! Provides ample opportunity to develop up to 180,000 SF of new life science Practice group back., ending 2022 at 5.3 % the well-established hubs continue to draw strong interest and expansion back... Aiming to make their mark as well as well, ending 2022 5.3. Communications / Public Relations track records and having success in securing large financing rounds deal. Tenant representation for office, lab, industrial, retail, education and specialty facilities the asset those. Called Blackstone science square # x27 ; s largest social Reading and publishing site this quickly-shifting sector requires deep and... Landlord representation assignments within Boston 's dynamic downtown and peripheral Urban markets,! Advertising / colliers boston life science / Communications / Public Relations strong data will have no issues raising rounds! Drive in North Reading with her husband and five-year old son the Colliers United States.! At 5.3 % Colliers has been core or development ultimately being awarded the asset commanded from... The last 120 days world & # x27 ; s largest social Reading and publishing site, III Colliers..., retail, education and specialty facilities spaces are setting new pricing records as real investors. Square had zero vacancy over the last 120 days in secondary markets of elephant-type requirements fall in the..
Cato Clearance Plus Size,
Quotes From Things Fall Apart With Page Numbers,
Packers Defense Rank Last 10 Years,
Porridge Fingers Joe Wicks,
Articles C
