For the early- and mid-stage companies, whether theyre private or public, it comes down to two things. Whether you are looking to lease or invest in a rese 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. John has represented developers, institutions and companies in the leasing, sale, disposition and acquisition of real estate in the Greater Boston Metropolitan area. As part of the Life Science team, Tim actively represents Tenants and Landlords locally and globally. 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. 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. Hire a team that has a proven track record of success. 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. 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. We have the data and insight you need to really know the Boston market and beyond. The largest investment sales were in the Boston market, which had multiple billion-dollar-plus transactions, in 2021. 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. Watertown is emerging as an important community tied to the life science industry. Our reputation for delivering results spans more than 135 years. He also serves as the National Practice Leader of . Those are real needle movers. 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. Growth is happening in the Washington, D.C./Maryland market, as well as in Seattle, Chicago, and New York City. Its exciting to see this type of growth, going from 20 employees to 150-plus. 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. Read more about the U.S. Life Science Report: First Quarter 2022 report. Medical device makers dominate markets such as Orange County, while plant science is a strength in St. Louis. Research and development lab and cGMP manufacturing spaces are setting new pricing records as real estate investors clamor to get into this asset class. Both projects were built to LEED Platinum standards and have won numerous design awards. 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. Life science means different things to different investors: markets vary in product type, specialization, and sophistication. Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. Holmes 2022 4th Quarter Office and Industrial Highlights, Margulies Perruzzi Completes Lab/Office Space for Strand Therapeutics, Professional Development Institute: Effective Communication Igniting Your Competitive Edge, Commercial Property Acquisition and Sale Due Diligence: Key Issues and Best Practices, Boston Real Estate Timess Outstanding Women of 2023, CBRE Arranges Sale of 246-Unit Halstead Milford, Lauren Gauthier Joins SGA As Director Of Architecture, R.W. Learn more! 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. Oncorus, whose R&D headquarters will remain in Cambridge, will occupy Innovation Park at 4 Corporate Drive as an additional location for high-quality GMP clinical manufacturing space. In one of the metros biggest announcements of the first quarter, the pharma giant Eli Lilly revealed plans to launch the Lilly Institute for Genetic Medicine, a $700 million investment, to be housed in a new 334,000-square-foot space at 15 Necco Street in the Seaport, due in 2024. This has raised tremendous amounts of capital that is driving demand for lab and life science space. 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. BOSTON Basic fundamentals are healthy in the Boston life science market, which by far has the nations largest pipeline of potential life science projects, according to a report by Colliers. Company News Investor Relations About ESG Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. Copyright 2022 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. He also oversaw an 8.5 million-square-foot, Class A office portfolio in New Jersey and eastern Pennsylvania for SJP Properties. In addition, he has completed over 200 tenant representation transactions totaling more than 2 million square feet. 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. Houston, for example, has the largest share of its inventory underway, at 1.8 million square feet, or 21% of the existing market. Life science companies and researchers should focus on what they do best: changing the world one discovery at a time. That has changed. My acquired knowledge in life science work has been on both the landlord (Wexford Science & Technology) and the tenant side within the industry. In her most recent position with Venture Forward Partners, she consulted with companies on laboratory design and operations, relocation services and more. Privacy Policy People credit this to two things. Privacy Policy 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. Weve seen a handful of elephant-type requirements fall in the 300,000-to-600,000-square-foot range. Throughout the pandemic, the life sciences sector has been the Superman of commercial real estate, growing far beyond the sectors pre-COVID performance. 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 annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. For further information, please contact: 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. 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. 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. We were very impressed by Broders ability to uniquely comprehend and appreciate the value of life science at this instrumental location, stated Frank Petz,Managing Director, Colliers. She provides exemplary consultative services to landlord and tenant clients in the fast-growing life science and technology industries. Thats not to say there havent been some headwinds: Boston-based companies such as Kaleido Biosciences and Yumanity Therapeutics laid off workers in recent months, and availabilities in some submarkets ticked up in the first quarter due to sublease space returning to the market. 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. 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. The next tier is Philadelphia, San Diego, and New Jersey; Raleigh-Durham is its own tier, and other markets fall in line thereafter. So back to my barbell comment earlier, it has been core or development. Whether due to reduced space needs stemming from weakened macroeconomic conditions (e.g. 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). IPOs also set new highs. Upon Oncorus joining the tenant roster, approximately 100,000 SF of vacancy will remain available for lease. Broder Acquires $46.5M Life Science Campus Arranged by Colliers 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. Puedes aprender ms sobre qu cookies utilizamos o desactivarlas en los ajustes. Colliers arranged the financing on 30 Dan Road as well as the $21 million sale of the Canton, Massachusetts property. His comprehensive approach including assisting clients to identify an efficient spaceprogram; impartially surveyall viable properties;tenaciously negotiating favorableterms; and procuringarchiects, contractors andconsultants for implementation. Note you are now viewing the Colliers United States website. 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. The top 12 markets have a combined 13.8 million square feet underway. EG: Over the past 10 months, the number of IPOs here in Massachusetts dropped significantly. The latest Tweets from Colliers Life Science | Boston (@LifeSciColliers). Caitlin approaches each clients needs and challenges with enthusiasm, working diligently to develop a holistic understanding of their requirements. 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. Joe is a Healthcare Fellow and serves on Colliers National Healthcare Services and Life Sciences Steering Committees. We did a big Eli Lilly deal there, and CRISPR and Vertex are there as well. Open navigation menu 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. Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. Note you are now viewing the Colliers United States website. Please try again. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. Thats pretty drastic. These factors are driving tremendous growth in both established life science hubs and numerous other markets. Across the top markets, 1.8 million square feetwereabsorbed. Navigating this quickly-shifting sector requires deep expertise and a team of committed professionals, which Colliers has plenty of. What have you been seeing over the past few years in Boston life sciences? Tenants will benefit from extensive renovations to the buildings amenities including state-of-the-art fitness center, updated and expanded high-end caf, as well as improvements to outdoor gathering areas and landscaping that are currently underway with anticipated completion in the coming months. Mr. Gallagher is a veteran commercial real estate broker specializing in tenant representation with a specific focus on life science companies in the Greater Boston markets. An unexpected error has occurred. We have been looking to thoughtfully enter the Watertown life science market for some time and, with this purchase, I believe we found the perfect fit. Copyright 2022 Colliers International 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. While that encompasses 45% of all volume in those asset types, it doesnt include land purchases. Prior to joining Colliers, Barry also held roles as a scientist at several local biotech companies with experience at the bench in both R&D and GMP laboratories. 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. He is currently assisting in multiple transactions in the majority ofSan Diego County markets as well as around the United States. 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.. Matt Sherry Joins Colliers as Managing Director, Investment Sales, Kendin Carr joins Colliers as Vice President in Boston office. 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. MS: The last few years have seen a barbell effect. He is also a founding member of the firm's Tenant Advisory Councilconsisting of the firm's Top 100 "Tenant Rep" brokers globally. Kim is an innovative problem-solver with a proven track record of success, said Evan Gallagher, Executive Vice President of Colliers Life Science Practice. Phone: 646.660.8644 Colliers (NASDAQ and TSX: CIGI), the leading global commercial real estate services firm, announces it has appointed Kim Barry as Senior Vice President in the groups rapidly growing Boston Life Science Practice. 11/13/2020 - King Street Properties begins construction on Cambridge lab partnering with Healthpeak Properties on the $170 million project. An unexpected error has occurred. 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. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. John Carroll, III joined Colliers International in 1993. 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