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. My acquired knowledge in life science work has been on both the landlord (Wexford Science & Technology) and the tenant side within the industry. 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. Our reputation for delivering results spans more than 135 years. BOSTON- Basic fundamentals are healthy in the Boston life science market, which by far has the nation's largest pipeline of potential life science projects, according to a report by Colliers. Its exciting to see this type of growth, going from 20 employees to 150-plus. 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. Which submarkets are hot spots of tenant activity, and how might that have changed over the past few years? We know real estate and we know Boston. He serves as the Director of Life Sciences team and is well versed in all aspects of designing and constructing laboratory and GMP manufacturing facilities on behalf of his clients. For further information, please contact: 12/03/2020 - Despite development slowdown, the state's life science industry keeps on building. So back to my barbell comment earlier, it has been core or development. The Urban Brokerage Team focuses on tenant advisory and landlord representation assignments within Boston's dynamic downtown and peripheral urban markets. Jake Klein Life science companies and researchers should focus on what they do best: changing the world one discovery at a time. Watertown is emerging as an important community tied to the life science industry. 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. Boston, MA Colliers has appointed Kim Barry as senior vice president in the Boston life science practice group. Colliers announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. David and wife Kristy met at the University of Illinois, married in 2001, and are blessed withthree teenage sons. Learn more! 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. His team provides aone stop solutions for account management, lease administration, workplace strategy, labor analytics, capital markets, project management, andincentives procurement services. 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. 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. Breakthrough Properties first quarter completion of The 105 added 260,000 square feet at the Seaport, fully leased by CRISPR. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. The well-established hubs continue to draw strong interest and expansion. Note you are now viewing the Colliers United States website. People credit this to two things. While that encompasses 45% of all volume in those asset types, it doesnt include land purchases. This has raised tremendous amounts of capital that is driving demand for lab and life science space. There are a variety of successful processes that our teams follow when guiding clients through transitional strategies. 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. From research and development lab product to cGMP manufacturing spaces, tenant and investor demand has soared, mostly in the nations largest and most well-established life science hubs. 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. Colliers Life Sciences Review - Boston - Free download as PDF File (.pdf), Text File (.txt) or read online for free. 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. Copyright 2012 - 2023 | citybiz | All Rights Reserved, Advertising / Media / Communications / Public Relations. Matt Sherry: What were seeing on our side is similar. He also serves as the National Practice Leader of . 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, for one, had $5.7 billion in investment in existing office, lab, and industrial/flex buildings last year. 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. What has happened to rents in the region since the start of the pandemic? . Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. Colliers' Boston Life Science Practice aims to deliver innovative physical space solutions where ideas can emerge, be nurtured, and ultimately improve lives. Early-to-mid-stage companies are scaling up and seeking bigger real estate footprints. 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. 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. 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. Please try again. Barry will call on her deep 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 ultra-competitive Boston market. IPO numbers were off the charts, VC funding set new highs, and NIH grants increased, all creating unprecedented demand for life science properties. His comprehensive approach including assisting clients to identify an efficient spaceprogram; impartially surveyall viable properties;tenaciously negotiating favorableterms; and procuringarchiects, contractors andconsultants for implementation. EG: Kendall Square had zero vacancy over the last three years, so we were spending more time in secondary markets. 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. John Carroll, III joined Colliers International in 1993. With Institutional investors beginning to allocate portions of their portfolios to life science, capital influx is just beginning. 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. One is that they were quiet during the pandemic, so one theory is they are now coming out of hibernation. 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. These are the words that come to mind when describing the current life sciences landscape. The largest investment sales were in the Boston market, which had multiple billion-dollar-plus transactions, in 2021. Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. 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. Cambridge, MA 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 EG: Over the past 10 months, the number of IPOs here in Massachusetts dropped significantly. Privacy Policy Copyright 2022 Colliers International They have completed thousands of transactions including renewals, new leases, build to suits, purchases and salestransactions. Colliers arranged the financing on 30 Dan Road as well as the $21 million sale of the Canton, Massachusetts property. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. 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. A 14-year professional in the Life Science industry, Michael Anderstrom represents clients the sale or leasing of lab, cleanroom manufacturing, and flex space. 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. 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.. 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. Dynamic. Evan, what types of companies are active in the Boston leasing market for life sciences? Originally from South Boston, Barry lives in North Reading with her husband and five-year old son. Whether due to reduced space needs stemming from weakened macroeconomic conditions (e.g. Today he focuses on providing strategic solutions to local, national and global Health Care, Life Sciences and Corporate clients. In addition, he has completed over 200 tenant representation transactions totaling more than 2 million square feet. 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. 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. 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 . 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. EG: Rent shot up significantly earlier in the pandemic, and the past six months have seen them stabilize. 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. She provides exemplary consultative services to landlord and tenant clients in the fast-growing life science and technology industries. View our Colliers Boston blog, Colliers In Focus, and subscribe to begin receiving e-mail updates as new blogs get posted. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. An unexpected error has occurred. Executive Vice President | Healthcare and Life Sciences, Joe joined Colliers International in 2012 to lead and grow Colliers Office Brokerage Division. center or life sciences property, or you need project 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. "Residential had that . As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. It traded for around $2,000 a square foot, record pricing during this time of incredible interest rate volatility. Colliers announces it has secured an 81,293 square-foot sublease on behalf of Tegra Medical at 9 Forge Parkway in Franklin. OSSD specializes in local, regional and national office and industrialtenants around the Globe. 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. Jack works to createvalue for his clients through an understanding of the local as well as global commercial real estate market. Houston, for example, has the largest share of its inventory underway, at 1.8 million square feet, or 21% of the existing market. 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. 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. 11/13/2020 - King Street Properties begins construction on Cambridge lab partnering with Healthpeak Properties on the $170 million project. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. David specializes in tenant representation for office, lab, industrial, retail, education and specialty facilities. Goldin Solutionsfor Colliers Upon Oncorus joining the tenant roster, approximately 100,000 SF of vacancy will remain available for lease. We know real estate and we know Boston. Note you are now viewing the Colliers United States website. Notably, Broder has recently completed two significant projects in Chicago and the Berkshires. Landlords still have pricing power and rents may continue to expand. Broder acquired the Pleasant Street Science Park in. 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. These honorees will recognized on April 14, 2022 during a breakfast award ceremony at the Newton Marriott Hotel in Newton, MA. As more product is completed, liquidity should only increase. An unexpected error has occurred. Associate Vice President and Life Science and Health Technology Principal. 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. Evan Gallagher: The long-term view for the life science ecosystem remains really strong, but demand has dropped. Those who end up getting strong data will have no issues raising new rounds of financing. Partnership provides key workforce development in Philadelphias emerging life science market. Hire a team that has a proven track record of success. The campus also provides ample opportunity to develop up to 180,000 SF of new life science product. 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. EG: We do a fair amount of tenant representation. 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. 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 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. our team has the market knowledge and connections to Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. Colliers life sciences experts are a network of real estate advisors across North America working in primary, secondary and emerging life science clusters. 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. 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. Research and development lab and cGMP manufacturing spaces are setting new pricing records as real estate investors clamor to get into this asset class. The life science industry shattered growth records in 2021. 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. We were very impressed by Broders ability to uniquely comprehend and appreciate the value of life science at this instrumental location, Top 25 U.S. Industrial & Logistics Market | Winter 2022. 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. 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. Overall, the results for 2022 were mixed as the . 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. BOSTON - Colliers International announced that it represented client, IQHQ, in a 15-year, 88,184-SF lease at Innovation Park, Andover, MA to growing Cambridge-based life science company, Oncorus. The life science market had an IPO once every three days in 2020, setting a new record for IPO launches that easily surpassed the previous high-water mark of 73 in 2018. Matt, lets talk about investment sales in the region. An unexpected error has occurred. What have you been seeing over the past few years in Boston life sciences? Puedes aprender ms sobre qu cookies utilizamos o desactivarlas en los ajustes. About Knowledge Leader. John has represented developers, institutions and companies in the leasing, sale, disposition and acquisition of real estate in the Greater Boston Metropolitan area. In her most recent position with Venture Forward Partners, she consulted with companies on laboratory design and operations, relocation services and more. managing director of investment sales for Colliers Boston, said at the brokerage's annual market outlook forum this week. 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. Note you are now viewing the Colliers United States website. 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. Our reputation for delivering results spans more than 135 years. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. 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. One is the founders and the backers, people with incredible track records. Thats empowering to them and exciting for the biotech community. Apartment market vacancies are healthy, ending 2022 at 5.3%. 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. The other is, theyre in an acquisition mode, looking to acquire great science.

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