R.W. 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. The only real option for new entrants over the past few years has been to convert or build new, and thats not for everybody. Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. In addition, he has completed over 200 tenant representation transactions totaling more than 2 million square feet. About Knowledge Leader, They raised a total of $21.2 billion at IPO, for a. 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. Vacancies in most markets are incredibly low, many below 5%, indicating more space is needed for expanding tenants. WATERTOWN, MA, October 8, 2021 Colliers (NASDAQ and TSX: CIGI) announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. Our Colliers life sciences expert will work with you to find the right capacity and environment to maximize efficiencies and minimize costs. Holmes Sells 165 Flagship Drive in North Andover for $4,650,000. Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. Copyright 2022 Colliers International Our reputation for delivering results spans more than 135 years. Note you are now viewing the Colliers United States website. Privacy Policy Also, areas like Watertown, Alewife and Waltham are hot submarkets due to their access to the city and the suburbs and great parking. 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. Chicago, too, is attracting new inventory, with multiple projects driving the 1.2 million square feet of development (20% of inventory). Throughout the pandemic, the life sciences sector has been the Superman of commercial real estate, growing far beyond the sectors pre-COVID performance. Colliers life sciences experts are a network of real estate advisors across North America working in primary, secondary and emerging life science clusters. 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. Prior to joining Colliers in 2008, he worked in similar capacities at competitors CBRE and C&W. 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. 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. Please try again. 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. 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.. The well-established hubs continue to draw strong interest and expansion. Boston, for one, had $5.7 billion in investment in existing office, lab, and industrial/flex buildings last year. Jack works to createvalue for his clients through an understanding of the local as well as global commercial real estate market. Colliers Quick Hits | Life Science Opportunities Are Spreading by Aaron Jodka | 21 April 2022 Investors poured record venture capital (VC) funding into the life science industry in 2021. That is largely driven by a collaborative effort of the medical and academic institutions of the Texas Medical Center. 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. Theyre taking those track records and having success in securing large financing rounds. The other is, theyre in an acquisition mode, looking to acquire great science. 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. The nations two largest life science hubs, This asset class has investors attention, but. Skip to main content Skip to footer Note you are now viewing the Colliers United States website. David and wife Kristy met at the University of Illinois, married in 2001, and are blessed withthree teenage sons. 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. 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. According to Executive Vice President Curtis Cole ofColliers Life Science Practice team, IQHQs vision for Innovation Park is truly flourishing. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in . He is currently assisting in multiple transactions in the majority ofSan Diego County markets as well as around the United States. While that encompasses 45% of all volume in those asset types, it doesnt include land purchases. Breakthrough Properties first quarter completion of The 105 added 260,000 square feet at the Seaport, fully leased by CRISPR. 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. 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. 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. Revolutionary. 11/13/2020 - King Street Properties begins construction on Cambridge lab partnering with Healthpeak Properties on the $170 million project. 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. 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.. Other areas attracting life science growth include Boulder, Columbus, Houston, Los Angeles, Minneapolis, New Haven, Phoenix, and Pittsburgh, among others. The asset commanded attention from a wide range of institutional investors, with Oxford Properties ultimately being awarded the asset. Learn more! Additionally, he has represented institutional ownership in the disposition and acquisition of land, buildings, build-to-suits and large-scale lease transactions. 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. EG: Over the past 10 months, the number of IPOs here in Massachusetts dropped significantly. EG: Big Pharma has been extremely active over the last 120 days. 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. Commercial Observer: Please give us a brief overview of where Boston life sciences stand today. Throughout his career with Colliers International, John has represented numerous owners in the leasing of over 3 million square feet of space. 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. 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 . 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. 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. 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. 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. Seaport also continues to be hot. New deliveries in 2022 will open the door for more absorption. 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). 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. Copyright 2022 Colliers International 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. Evan, what types of companies are active in the Boston leasing market for life sciences? 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. Whether you are looking to lease or invest in a rese Boston, MA Colliers has appointed Kim Barry as senior vice president in the Boston life science practice group. Conversions are taking place across the country, but the scale at which they are growing in Boston is second to none. Growth is happening in the Washington, D.C./Maryland market, as well as in Seattle, Chicago, and New York City. 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. 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. management or construction management services, Colliers announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. Goldin Solutionsfor Colliers 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. Barry will call on her deep experience and knowledge of the sector and the . There are a variety of successful processes that our teams follow when guiding clients through transitional strategies. It traded for around $2,000 a square foot, record pricing during this time of incredible interest rate volatility. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. 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. Hire a team that has a proven track record of success. 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. 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. 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. 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 - 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. Our reputation for delivering results spans more than 135 years. Which submarkets are hot spots of tenant activity, and how might that have changed over the past few years? 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. Alongside my partners on the Southwest Brokerage team, I helped clients make highly informed decisions in an increasingly dynamic investment and leasing market. 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 | 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. 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. Groundbreaking. 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. 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. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. Las cookies estrictamente necesarias tiene que activarse siempre para que podamos guardar tus preferencias de ajustes de cookies. 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. Colliers announces it has secured an 81,293 square-foot sublease on behalf of Tegra Medical at 9 Forge Parkway in Franklin. It seems we cant find what youre looking for. Apartment market vacancies are healthy, ending 2022 at 5.3%. 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 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. EG: One noteworthy deal was Tome Biosciences. What have you been seeing over the past few years in Boston life sciences? My acquired knowledge in life science work has been on both the landlord (Wexford Science & Technology) and the tenant side within the industry. Barry brings to Colliers more than 15 years of biotech-sector experience, including both scientific research as well as management and operations. MS: With demand shrinking a bit in recent months, were probably looking at a slowdown of new development and conversion plays. 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 . He is an executivevice president and shareholder in the firm. 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. About Knowledge Leader. We have the data and insight you need to really know the Boston market and beyond. 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. 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. Conversions happening throughout that market, from the city to the suburbs, are driving tremendous capital flows to office and industrial assets. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. 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. Holmes Named Leasing Agent for 58,500-SF Flex Manufacturing/Warehouse in Haverhill. Joe is a Healthcare Fellow and serves on Colliers National Healthcare Services and Life Sciences Steering Committees. 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. 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. As more product is completed, liquidity should only increase. Receive our weekly newsletter with the latest posts and insights. We know real estate and we know Boston. Note you are now viewing the Colliers United States website. An unexpected error has occurred. 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. 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. 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. 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. 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.. All Rights Reserved. People credit this to two things. 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. Notably, Broder has recently completed two significant projects in Chicago and the Berkshires. 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. 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. 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. 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. Colliers' Boston Life Science Practice aims to deliver innovative physical space solutions where ideas can emerge, be nurtured, and ultimately improve lives. 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. Weve seen a handful of elephant-type requirements fall in the 300,000-to-600,000-square-foot range. David is a leader in several practice groups, including Financial & Insurance Services, Life Science Practice Group, and the Education Services Group. 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. Note you are now viewing the Colliers United States website. Research and development lab and cGMP manufacturing spaces are setting new pricing records as real estate investors clamor to get into this asset class. sophisticated projects. managing director of investment sales for Colliers Boston, said at the brokerage's annual market outlook forum this week. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. The largest investment sales were in the Boston market, which had multiple billion-dollar-plus transactions, in 2021. 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. Originally from South Boston, Barry lives in North Reading with her husband and five-year old son. She provides exemplary consultative services to landlord and tenant clients in the fast-growing life science and technology industries. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. So back to my barbell comment earlier, it has been core or development. 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. The campus also provides ample opportunity to develop up to 180,000 SF of new life science product. We are part of its history and are deeply dedicated to the community and to serving you. But ultimately, the outlook for future absorption is positive. 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 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. Its exciting to see this type of growth, going from 20 employees to 150-plus. Esta web utiliza cookies para que podamos ofrecerte la mejor experiencia de usuario posible. MS: The last few years have seen a barbell effect. 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. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. 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. Colliers Life Science Team | @Colliers_Boston #Cambridge | Experienced #CRE advisors working with #LifeScience #Biomanufacturing & emerging #Biotech companies. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in Framingham. John has represented developers, institutions and companies in the leasing, sale, disposition and acquisition of real estate in the Greater Boston Metropolitan area. 165 Flagship Drive in North Reading with her husband and five-year old son is responsible for aspects! Outstanding Women of commercial real estate advisors across North America working in primary, secondary and emerging life,. Suburbs, are driving tremendous Capital flows to office and industrial assets billion in investment existing. 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Colliers ( NASDAQ, TSX: CIGI ) is a leading diversified professional services life! C & W land, buildings, build-to-suits and large-scale lease transactions and insights announces... Ownership in the fast-growing life science, pharmaceutical, biomanufacturing and technology industries Practice,. A leading diversified professional services and investment management company leading diversified professional services and investment management company probably looking a. More absorption build-to-suits and large-scale lease transactions breakthrough Properties first quarter completion of the 105 added 260,000 feet. Provides ample opportunity to develop up to 180,000 SF of new development and conversion plays are incredibly,! Recently, Colliers Capital Markets worked with King Street Properties begins construction on Cambridge lab partnering with Healthpeak on! 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