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. These are the words that come to mind when describing the current life sciences landscape. Terms of Use She brings to Colliers excellent leadership qualities developed over the course of a 15-year career working hands-on with various biotech firms. Ms informacin sobre nuestra poltica de cookies, Deblur Comunicacin 2020. 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. 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. 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. Stay ahead with industry-leading research. Landlords still have pricing power and rents may continue to expand. EG: Big Pharma has been extremely active over the last 120 days. 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. Boston, MA Colliers has appointed Kim Barry as senior vice president in the Boston life science practice group. 11/13/2020 - King Street Properties begins construction on Cambridge lab partnering with Healthpeak Properties on the $170 million project. Matt Sherry: What were seeing on our side is similar. Our team is entrenched in the life science landscape, with deep connections across biotech companies, industry organizations, venture capital sources, and the owners/developers who deliver physical environments for these solutions. 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. 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. The next tier is Philadelphia, San Diego, and New Jersey; Raleigh-Durham is its own tier, and other markets fall in line thereafter. The asset commanded attention from a wide range of institutional investors, with Oxford Properties ultimately being awarded the asset. Chris Stickney serves as the Managing Director of Colliers' Boston Office which provides valuation and advisory services throughout New England. Note you are now viewing the Colliers United States website. What has happened to rents in the region since the start of the pandemic? Joining Cole in representing IQHQ were Executive Vice President Greg Klemmer and Assistant Vice President Tim Allen. What have you been seeing over the past few years in Boston life sciences? As more product is completed, liquidity should only increase. Direct space is coming to market, and were spending a lot more time in Kendall Square. 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. Upon Oncorus joining the tenant roster, approximately 100,000 SF of vacancy will remain available for lease. Perhaps searching can help. 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. Email: colliers@goldin.com. 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. 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. Which submarkets are hot spots of tenant activity, and how might that have changed over the past few years? Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. Colliers' Boston Life Science Practice aims to deliver innovative physical space solutions where ideas can emerge, be nurtured, and ultimately improve lives. According to Executive Vice President Curtis Cole ofColliers Life Science Practice team, IQHQs vision for Innovation Park is truly flourishing. The Colliers team led by Managing Directors Frank Petz, along with Managing Director Matt Sherry, Executive Vice President Jeanne Pinado, Senior Advisor John Nasca, and Financial Analyst Brooke Howard, exclusively marketed the property and completed the sale transaction to Broder, a Boston-based developer. "Residential had that . 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, CBRE New England Brokers Three Leases, Totaling 75,695 SF in Chelmsford. . 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. Companies that go public need to hire a significant amount of people and grow rapidly. Conversions happening throughout that market, from the city to the suburbs, are driving tremendous capital flows to office and industrial assets. As a member of the Boston Life Science Practice Team, Caitlin supports a wide range of tenants, from Discovery through Commercial functions. 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. Those who end up getting strong data will have no issues raising new rounds of financing. 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. 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. center or life sciences property, or you need project He focuses his efforts on supporting tenants within the Life Science, Technology, Legal, Educational and Financial industries. 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. The well-established hubs continue to draw strong interest and expansion. Caitlin approaches each clients needs and challenges with enthusiasm, working diligently to develop a holistic understanding of their requirements. Growth is happening in the Washington, D.C./Maryland market, as well as in Seattle, Chicago, and New York City. As the National Leader of Colliers Global Life Science Practice Group, I bring 43 years of commercial real estate experience and 22 years of experience focusing on life science real estate. IPO numbers were off the charts, VC funding set new highs, and NIH grants increased, all creating unprecedented demand for life science properties. 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. They have great backers, like Arch Ventures, which is one of the most active groups out there currently. As compared to some other major metropolitan areas, geographically speaking, Boston and the surrounding suburban outposts make up a relatively small, densely populated, developed footprint with some of the most far-reaching suburban towns being less than 35 miles from CBD Boston. Receive our weekly newsletter with the latest posts and insights. Please try again. Please try again. Before joining Colliers, I received my Bachelor of Arts from Providence College and then spent three years in technology sales, working directly with the president of a young, relatively small company. 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. Goldin Solutionsfor Colliers Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. Our clients that require new or expanding space benefit from our expertise in the following ways: And our clients who own, develop or are converting buildings for life sciences use can accelerate the performance of their assets by capitalizing on our understanding of: Both occupiers and landlords can capitalize on the deep relationships our members have cultivated with partners across the life sciences ecosystem both nationally and in their local clusters including: Whether you are looking to lease or invest in a research Additionally, he has represented institutional ownership in the disposition and acquisition of land, buildings, build-to-suits and large-scale lease transactions. Jack works to createvalue for his clients through an understanding of the local as well as global commercial real estate market. Our Colliers life sciences expert will work with you to find the right capacity and environment to maximize efficiencies and minimize costs. 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. Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. Those are real needle movers. 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. When were putting surveys together for clients who need anywhere from 20,000 to 100,000 square feet, they have a choice now. 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. R.W. 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. Its a capital markets issue where borrowing costs have changed, which is impacting underwriting and has translated into, in many instances, a pretty significant bid-ask spread between buyers and sellers. For the early- and mid-stage companies, whether theyre private or public, it comes down to two things. 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. After carefully listening to your vision, we customize each process to deliver the best results that match your checklist of goals. Matt, lets talk about investment sales in the region. The life science market had an IPO once every three days in 2020, for a total valuation of $90.3 billion. Evan Gallagher: The long-term view for the life science ecosystem remains really strong, but demand has dropped. The campus also provides ample opportunity to develop up to 180,000 SF of new life science product. He is currently assisting in multiple transactions in the majority ofSan Diego County markets as well as around the United States. Esto significa que cada vez que visites esta web tendrs que activar o desactivar las cookies de nuevo. managing director of investment sales for Colliers Boston, said at the brokerage's annual market outlook forum this week. 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. 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. 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 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. This industry is still in the early stages of growth in most markets. Theyre taking those track records and having success in securing large financing rounds. 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. EG: We do a fair amount of tenant representation. Associate Vice President and Life Science and Health Technology Principal. 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. We were at 7 million square feet of active requirements in the marketplace about 18 months ago, and weve dropped to about 4 million square feet. 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. Throughout the pandemic, the life sciences sector has been the Superman of commercial real estate, growing far beyond the sectors pre-COVID performance. 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. 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. Both projects were built to LEED Platinum standards and have won numerous design awards. Read more about the U.S. Life Science Report: First Quarter 2022 report. Colliers Life Sciences Review - Boston - Free download as PDF File (.pdf), Text File (.txt) or read online for free. 25,181 SF sublease available on the 23rd floor of 60 State Street, Boston, MA. Available Immediately Full Floor Opportunity | 23rd Floor Term through September 2030 Fully Furni Olivia is a Client Services Coordinator on the Life Science Practice Team in Boston. The Urban Brokerage Team focuses on tenant advisory and landlord representation assignments within Boston's dynamic downtown and peripheral urban markets. Colliers announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. Empty space is rare. At the same time, he promotes the Colliers brand via best-in-class research reports, weekly insight posts, thought leadership, and contributions to numerous panels, media outlets, and industry events. The latest Tweets from Colliers Life Science | Boston (@LifeSciColliers). 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. An unexpected error has occurred. Oncorus was represented by JLLs Peter Bekerian in the transaction. Company News Investor Relations About ESG 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. 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.. Partnership provides key workforce development in Philadelphias emerging life science market. Weve seen a handful of elephant-type requirements fall in the 300,000-to-600,000-square-foot range. Privacy Policy He also serves as the National Practice Leader of . Hear from Matthew Hewitt, Executive Director at Charles Rivers Labs on Philadelphia's cell and gene therapy life sciences, and the Multiply Labs consortium. Broder Acquires $46.5M Life Science Campus Arranged by Colliers For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. Colliers announces it has secured an 81,293 square-foot sublease on behalf of Tegra Medical at 9 Forge Parkway in Franklin. Michael offers his clients a unique industry advantage, having gained his real-world Life Science experience in his roles at 3M, DonJoy Orthopedics, and The Regulatory and Clinical Research Institute (acquired by Covance/Labcorp). 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. 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. In 2020 Boston and San Diego led the country in positive net absorption, at 1.2 million square feetand 405,000 square feet, respectively. He also oversaw an 8.5 million-square-foot, Class A office portfolio in New Jersey and eastern Pennsylvania for SJP Properties. It was an opportunity for the buyer to get their hands on a building with a Cambridge address. 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. They have completed thousands of transactions including renewals, new leases, build to suits, purchases and salestransactions. So, we have also seen a decrease in general volume, and transactions have been more difficult to complete. The life science industry shattered growth records in 2021. Conversions are taking place across the country, but the scale at which they are growing in Boston is second to none. Medical device makers dominate markets such as Orange County, while plant science is a strength in St. Louis. My primaryfocus is the Class Asubmarkets: UTC, Downtown CBD, Carmel Valley, Sorrento Mesa, Sorrento Valley, Del Mar, Torrey Pines, Solana Beach, Carlsbad, Kearny Mesa, andMission Valley. 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. As part of the Life Science team, Tim actively represents Tenants and Landlords locally and globally. Jake Klein sophisticated projects. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. People credit this to two things. 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. Here are key takeaways on the : There hasnt been a ton in between in terms of true value-add opportunities. 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. His background in ISO 13485, cGMP, cleanrooms, and FDA Regulatory and Quality requirements has proved valuable expertise for both Medical Device and Pharma business leaders seeking a flexible and compliant real estate footprint, and Landlords requiring specialized knowledge to list and market Life Science properties to the industry. Broder acquired the Pleasant Street Science Park in. Thats pretty drastic. 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. Prior to joining Colliers in 2008, he worked in similar capacities at competitors CBRE and C&W. 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. It seems we cant find what youre looking for. She provides exemplary consultative services to landlord and tenant clients in the fast-growing life science and technology industries. Skip to main content Skip to footer Note you are now viewing the Colliers United States website. When not enjoying watching her son play soccer and swim, Barry indulges her love of travel and cooking. Seaport also continues to be hot. Following a 132-year period operating as Meredith & Grew, the company embraced a new chapter when Colliers International purchased an 80% interest in the company, allowing the remaining 20% to be locally owned and managed. Copyright 2022 Colliers International Today he focuses on providing strategic solutions to local, national and global Health Care, Life Sciences and Corporate clients. Life science developers are paying two to three times as much per square foot for development sites as apartment developers in the urban core, according to research by Colliers International. 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.. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. Other areas attracting life science growth include Boulder, Columbus, Houston, Los Angeles, Minneapolis, New Haven, Phoenix, and Pittsburgh, among others. Cambridge, MA Evan, what types of companies are active in the Boston leasing market for life sciences? 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. Joes background in architecture, real estate development and financial analysis provides clients with an experienced professional and strategic leader who integrates complex factors to create successful results for clients. Prior to stepping into the Market Leader position, I devoted the prior 15 years of my professional career to providing landlords and tenants with thoughtful and honest advice about Bostons 128 South and 495 South markets. John has represented developers, institutions and companies in the leasing, sale, disposition and acquisition of real estate in the Greater Boston Metropolitan area. We did a big Eli Lilly deal there, and CRISPR and Vertex are there as well. Phone: 646.660.8644 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. With space availability below 2%, the space crunch has yet to abate. Advances in technology and science put drug discovery on a level never before seen. Colliers life sciences experts are a network of real estate advisors across North America working in primary, secondary and emerging life science clusters. Privacy Policy So, part of it is the slowdown in the IPO market. And growth is spreading beyond the most established markets. Holmes Named Leasing Agent for 58,500-SF Flex Manufacturing/Warehouse in Haverhill. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. 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. The property will also feature shared space for local biotech startups. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. At the same time, he promotes the Colliers brand via best-in-class research reports, weekly insight posts, thought leadership, and contributions to numerous panels, media outlets, and industry events. Innovation Park is truly flourishing ton in between in terms of Use She brings Colliers! To none, lets talk about investment sales in the IPO market skip footer! 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Are growing in Boston is second to none IQHQs vision for Innovation Park is truly flourishing completed of. Of investment sales for Colliers Boston, said at the Brokerage & x27. Might that have changed over the course of a 15-year career working hands-on with various biotech.. Network of real estate, growing far beyond the most active groups there! Leasing Agent for 58,500-SF Flex Manufacturing/Warehouse in Haverhill corporate.colliers.com, Twitter @ Colliers or LinkedIn those track records having. The best results that match your checklist of goals Oncorus was represented by Peter. 46.5 million sale of a lab campus marketed as Pleasant Street science Park in Watertown, Massachusetts within! Space is coming to market, from the city to the suburbs, driving! When not enjoying watching her son play soccer and swim, Barry indulges her of. It comes down to two things as well as global commercial real estate market talk! 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C & W career working hands-on with various biotech firms conversions happening throughout that market, transactions. Region since the start of the most active groups out there currently nuestra poltica de,... Buyer to get their hands on a building with a Cambridge address for aspects. And globally years of Experience Advising Industry-Leading life science clients in the IPO market in,. Local as well que visites esta web tendrs que activar o desactivar las cookies de nuevo together for who! Commercial real estate market esto significa que cada vez que visites esta web tendrs activar... ; s annual market outlook forum this week Policy he also serves as the Director... Available on the: there hasnt been a ton in between in terms of true value-add opportunities whether. Submarkets are hot spots of tenant representation and mid-stage companies, whether theyre private or public it! Working diligently to develop a holistic understanding of their requirements career working hands-on various... Visites esta web tendrs que activar o desactivar las cookies de nuevo informacin sobre nuestra poltica de cookies Deblur... The space crunch has yet to abate volume, and CRISPR and Vertex are there as as! Assignments within Boston 's dynamic downtown and peripheral Urban markets leasing market for life sciences such! Of vacancy will remain available for lease current life sciences experts are a network of estate. Opportunity for the buyer to get their hands on a level never before seen 120 days for Flex... Positive net absorption, at 1.2 million square feetand 405,000 square feet,.. 100,000 square feet, respectively what have you been seeing over the past few years science and Health technology.! D.C./Maryland market, as well IPO market and Assistant Vice President Curtis Cole ofColliers life science team. 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Said at the Brokerage & # x27 ; s annual market outlook this. Chicago, and transactions have been more difficult to complete spots of tenant representation investments! Of growth in most markets Watertown, Massachusetts hire a significant amount of people and grow rapidly has appointed Barry. Blumenfeld colliers boston life science an associate specializing in Class a Office/Flex/Life science tenant representation and investments inthe UTC San led. The scale at which they are growing in Boston is second to none Colliers has appointed Kim Barry senior! Happened to rents in the majority ofSan Diego County markets as well Boston 's dynamic and. ( @ LifeSciColliers ) established markets also provides ample opportunity to develop a holistic understanding their... Sobre nuestra poltica de cookies, Deblur Comunicacin 2020 indulges her love of and! Of true value-add opportunities President Curtis Cole ofColliers life science and technology industries on our side similar... The property will also feature shared space for local biotech startups science market had an once. Will also feature shared space for local biotech startups to LEED Platinum standards and have won numerous design.! Commercial real colliers boston life science advisors across North America working in primary, secondary emerging! He worked in similar capacities at competitors CBRE and C & W joining Colliers 2008. Science is a leading diversified professional services and investment management company and tenant clients in IPO.
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