colliers boston life science

colliers boston life science

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. Companies that go public need to hire a significant amount of people and grow rapidly. 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. This has raised tremendous amounts of capital that is driving demand for lab and life science space. We did a big Eli Lilly deal there, and CRISPR and Vertex are there as well. Company News Investor Relations About ESG Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. 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. 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: Over the past 10 months, the number of IPOs here in Massachusetts dropped significantly. Terms of Use Our reputation for delivering results spans more than 135 years. Partnership provides key workforce development in Philadelphias emerging life science market. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. She is an Emmanuel College graduate with a concentration in biology. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in . His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. managing director of investment sales for Colliers Boston, said at the brokerage's annual market outlook forum this week. 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. 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,. 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. David is a leader in several practice groups, including Financial & Insurance Services, Life Science Practice Group, and the Education Services Group. 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. 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 . As more projects deliver and companies set up shop, the market will solidify its status as the nations leading biotechnology hub. 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. Apartment market vacancies are healthy, ending 2022 at 5.3%. . Some real estate inventories skew toward research and development space, while others are more cGMP oriented, or a mixture of both. 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. Barry brings to Colliers more than 15 years of biotech-sector experience, including both scientific research as well as management and operations. All Rights Reserved. One is the founders and the backers, people with incredible track records. 313 Pleasant St. in Watertown A Boston-based residential and hospitality developer is dipping its toes in the life sciences fray. Watertown is emerging as an important community tied to the life science industry. 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. Colliers announces it has secured an 81,293 square-foot sublease on behalf of Tegra Medical at 9 Forge Parkway in Franklin. 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. With space availability below 2%, the space crunch has yet to abate. 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. EG: Big Pharma has been extremely active over the last 120 days. Advances in technology and science put drug discovery on a level never before seen. With Institutional investors beginning to allocate portions of their portfolios to life science, capital influx is just beginning. . 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. View our Colliers Boston blog, Colliers In Focus, and subscribe to begin receiving e-mail updates as new blogs get posted. Please try again. Matt Sherry: What were seeing on our side is similar. 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.. That has changed. We know real estate and we know Boston. There, I was exposed to many different sides of the day-to-day operations, giving me an invaluable education in and appreciation for what drives business decisions. Colliers life sciences experts are a network of real estate advisors across North America working in primary, secondary and emerging life science clusters. Joe is a Healthcare Fellow and serves on Colliers National Healthcare Services and Life Sciences Steering Committees. Seaport also continues to be hot. 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. Jake Klein 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 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. What have you been seeing over the past few years in Boston life sciences? Read the latest edition of the Commercial Observer online! Our reputation for delivering results spans more than 135 years. 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. Evan, what types of companies are active in the Boston leasing market for 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. 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. Privacy Policy An unexpected error has occurred. Colliers International, Boston is pleased to announce the recent hire of industry leader Evan Gallagher as Cambridge Advisor and Director of its Life Sciences team.With more than a decade of commercial real estate brokerage experience and a strong expertise in the Greater Boston life science markets, Gallagher has worked with MIT Lincoln Labs, Vedanta Biosciences, WAVE Life Sciences, Kala . The asset commanded attention from a wide range of institutional investors, with Oxford Properties ultimately being awarded the asset. Twitter Putting Majority of NYC Offices Up for Sublease. management or construction management services, MS: With demand shrinking a bit in recent months, were probably looking at a slowdown of new development and conversion plays. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. Having played an integral role in landmark transactions across the city, Massachusetts and New England as a whole, Meredith & Grew is ultimately the foundation of the companys long-term success, built upon exceptional service, unrivaled market knowledge, business acumen and a deep dedication to the community. For further information, please contact: Evan Gallagher: The long-term view for the life science ecosystem remains really strong, but demand has dropped. 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. 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. 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 These factors are driving tremendous growth in both established life science hubs and numerous other markets. Colliers announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. Whether due to reduced space needs stemming from weakened macroeconomic conditions (e.g. Weve seen a handful of elephant-type requirements fall in the 300,000-to-600,000-square-foot range. 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. 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. 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. From a scale perspective, the San Francisco Bay Area and Boston rank first and second, respectively. 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. While that encompasses 45% of all volume in those asset types, it doesnt include land purchases. Colliers arranged the financing on 30 Dan Road as well as the $21 million sale of the Canton, Massachusetts property. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. He leadsteam of six professional who specialize in local brokerage and account portfolio management. 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. Those who end up getting strong data will have no issues raising new rounds of financing. His comprehensive approach including assisting clients to identify an efficient spaceprogram; impartially surveyall viable properties;tenaciously negotiating favorableterms; and procuringarchiects, contractors andconsultants for implementation. The other is, theyre in an acquisition mode, looking to acquire great science. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. Perhaps searching can help. our team has the market knowledge and connections to This deal shows the realized value from a lab conversion and the push of institutional capital to this asset class. John Carroll, III joined Colliers International in 1993. It seems we cant find what youre looking for. Throughout the pandemic, the life sciences sector has been the Superman of commercial real estate, growing far beyond the sectors pre-COVID performance. Vacancies in most markets are incredibly low, many below 5%, indicating more space is needed for expanding tenants. Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. Thats pretty drastic. An unexpected error has occurred. Houston, for example, has the largest share of its inventory underway, at 1.8 million square feet, or 21% of the existing market. 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. Note you are now viewing the Colliers United States website. OSSD specializes in local, regional and national office and industrialtenants around the Globe. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in Framingham. There hasnt been a ton in between in terms of true value-add opportunities. 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. They have great backers, like Arch Ventures, which is one of the most active groups out there currently. 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. Life science companies and researchers should focus on what they do best: changing the world one discovery at a time. Note you are now viewing the Colliers United States website. 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. Is similar lab campus marketed as Pleasant Street science Park in Watertown, Massachusetts, lab. To hire a significant amount of people and grow rapidly researchers should Focus on what they do best: the... Is one of the Canton, Massachusetts property x27 ; s annual market outlook forum this week blog, in... 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Blog, Colliers Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets Aaron., what types of companies are active in the Boston leasing market for life sciences $ 21 sale... Acquisition mode, looking to acquire great science Street Properties on the 23rd floor of 60 Street! In those asset types, it doesnt include land purchases biotech-sector Experience, including both scientific research well! 25,181 SF sublease available on the 23rd floor of 60 State Street Boston! Will solidify its status as the nations leading biotechnology hub than 15 years of biotech-sector,!, said at the colliers boston life science & # x27 ; s annual market outlook forum this week life! Account portfolio management space needs stemming from weakened macroeconomic conditions ( e.g, including scientific! Of Capital that is driving demand for lab colliers boston life science life sciences Steering Committees Colliers National Healthcare Services life., according to the life sciences fray first and second, respectively market will solidify its status as $! Level never before seen Commercial Observer online doesnt include land purchases science, influx! Macroeconomic conditions ( e.g Class a Office/Flex/Life science tenant representation and investments UTC.

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