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. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in Framingham. Colliers arranged the financing on 30 Dan Road as well as the $21 million sale of the Canton, Massachusetts property. His in-depth market knowledge, professionalism and commitment to client services continues to win him significant praise throughout the brokerage community. Myknowledge of market conditions and influences in the life sciences supports my ability to be creative in structuring the financial details of both lease and purchase transactions. sophisticated projects. 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. Vacancies in most markets are incredibly low, many below 5%, indicating more space is needed for expanding tenants. Evan Gallagher: The long-term view for the life science ecosystem remains really strong, but demand has dropped. Additionally, he has represented institutional ownership in the disposition and acquisition of land, buildings, build-to-suits and large-scale lease transactions. With Institutional investors beginning to allocate portions of their portfolios to life science, capital influx is just beginning. Please try again. management or construction management services, Seaport also continues to be hot. Colliers' Boston Life Science Practice aims to deliver innovative physical space solutions where ideas can emerge, be nurtured, and ultimately improve lives. These are the words that come to mind when describing the current life sciences landscape. There are a variety of successful processes that our teams follow when guiding clients through transitional strategies. In 2020 Boston and San Diego led the country in positive net absorption, at 1.2 million square feetand 405,000 square feet, respectively. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. Copyright 2022 Colliers International Some real estate inventories skew toward research and development space, while others are more cGMP oriented, or a mixture of both. Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. The top 12 markets have a combined 13.8 million square feet underway. Im pleased to join the Colliers team, which has repeatedly proven itself one of the most talented in the area.. 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. Upon Oncorus joining the tenant roster, approximately 100,000 SF of vacancy will remain available for lease. Receive our weekly newsletter with the latest posts and insights. Colliers announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. Barry will call on her deep experience and knowledge of the sector and the . 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. 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. Watertown is emerging as an important community tied to the life science industry. 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. The campus also provides ample opportunity to develop up to 180,000 SF of new life science product. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn. We have the data and insight you need to really know the Boston market and beyond. MS: The last few years have seen a barbell effect. The next tier is Philadelphia, San Diego, and New Jersey; Raleigh-Durham is its own tier, and other markets fall in line thereafter. Cambridge, MA Colliers life sciences experts are a network of real estate advisors across North America working in primary, secondary and emerging life science clusters. 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. 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. 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. He is also a founding member of the firm's Tenant Advisory Councilconsisting of the firm's Top 100 "Tenant Rep" brokers globally. 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. 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. An unexpected error has occurred. Those who end up getting strong data will have no issues raising new rounds of financing. Twitter Putting Majority of NYC Offices Up for Sublease. 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. 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. Charlie has more than 29years of experience in commercial real estate and related fields, and has worked with a broad range of clients/tenants including Merrill Lynch, Integra LifeSciences, Deutsche Bank AG, BASF, Biomet, Kohlberg Kravis Roberts (KKR), KKR/Capstone, John Wiley and Sons, Maher Terminals, AIG, Marsh & McLennan, Mobil, Sprint, Siemens, AON, Fidelity Investments, Lehman Brothers, PNC Bank, Prudential, Sanofi-Aventis, Coca-Cola and Aetna/US Healthcare, Celgene, Celularity, Cellectis. 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. MS: We just closed a deal in Cambridge called Blackstone Science Square. When not enjoying watching her son play soccer and swim, Barry indulges her love of travel and cooking. Chris Stickney serves as the Managing Director of Colliers' Boston Office which provides valuation and advisory services throughout New England. 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. All Rights Reserved. The nations two largest life science hubs, This asset class has investors attention, but. Oncorus was represented by JLLs Peter Bekerian in the transaction. Matt, lets talk about investment sales in the region. These factors are driving tremendous growth in both established life science hubs and numerous other markets. Boston, MA Colliers has appointed Kim Barry as senior vice president in the Boston life science practice group. IPOs also set new highs. Both projects were built to LEED Platinum standards and have won numerous design awards. The property will also feature shared space for local biotech startups. John has represented developers, institutions and companies in the leasing, sale, disposition and acquisition of real estate in the Greater Boston Metropolitan area. John Carroll, III joined Colliers International in 1993. That is largely driven by a collaborative effort of the medical and academic institutions of the Texas Medical Center. One is that they were quiet during the pandemic, so one theory is they are now coming out of hibernation. David and wife Kristy met at the University of Illinois, married in 2001, and are blessed withthree teenage sons. Houston, for example, has the largest share of its inventory underway, at 1.8 million square feet, or 21% of the existing market. A 14-year professional in the Life Science industry, Michael Anderstrom represents clients the sale or leasing of lab, cleanroom manufacturing, and flex space. 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. So, part of it is the slowdown in the IPO market. He focuses his efforts on supporting tenants within the Life Science, Technology, Legal, Educational and Financial industries. Weve seen a handful of elephant-type requirements fall in the 300,000-to-600,000-square-foot range. 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. Evan, what types of companies are active in the Boston leasing market for life sciences? Early-to-mid-stage companies are scaling up and seeking bigger real estate footprints. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. Barry brings to Colliers more than 15 years of biotech-sector experience, including both scientific research as well as management and operations. With recessionary pressures still in the macroeconomy, the Greater Boston industrial market softened slightly, but industrial fundamentals remain healthy. 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. Across the top markets, 1.8 million square feetwereabsorbed. We did a big Eli Lilly deal there, and CRISPR and Vertex are there as well. managing director of investment sales for Colliers Boston, said at the brokerage's annual market outlook forum this week. 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. Alongside my partners on the Southwest Brokerage team, I helped clients make highly informed decisions in an increasingly dynamic investment and leasing market. As more product is completed, liquidity should only increase. Please try again. 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. 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. 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. This deal shows the realized value from a lab conversion and the push of institutional capital to this asset class. As a member of the Boston Life Science Practice Team, Caitlin supports a wide range of tenants, from Discovery through Commercial functions. 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. 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. Note you are now viewing the Colliers United States website. She is an Emmanuel College graduate with a concentration in biology. When were putting surveys together for clients who need anywhere from 20,000 to 100,000 square feet, they have a choice now. His team provides aone stop solutions for account management, lease administration, workplace strategy, labor analytics, capital markets, project management, andincentives procurement services. Breakthrough Properties first quarter completion of The 105 added 260,000 square feet at the Seaport, fully leased by CRISPR. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. Olivia is a Client Services Coordinator on the Life Science Practice Team in Boston. This has raised tremendous amounts of capital that is driving demand for lab and life science space. But there has definitely been a race to expand to satisfy any demand in the market. He also serves as the National Practice Leader of . 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. Also, areas like Watertown, Alewife and Waltham are hot submarkets due to their access to the city and the suburbs and great parking. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. Esta web utiliza cookies para que podamos ofrecerte la mejor experiencia de usuario posible. About Knowledge Leader. Esto significa que cada vez que visites esta web tendrs que activar o desactivar las cookies de nuevo. 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 . EG: Kendall Square had zero vacancy over the last three years, so we were spending more time in secondary markets. 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. Kim is an innovative problem-solver with a proven track record of success, said Evan Gallagher, Executive Vice President of Colliers Life Science Practice. 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. Terms of Use Executive Vice President | Healthcare and Life Sciences, Joe joined Colliers International in 2012 to lead and grow Colliers Office Brokerage Division. 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,. 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. We have loyal, committed leadership and incredible talent at all tenure levels, making Colliers | Boston an energetic and diverse work environment for its employees. There hasnt been a ton in between in terms of true value-add opportunities. Any recent deals you could share with us? 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. 11/13/2020 - King Street Properties begins construction on Cambridge lab partnering with Healthpeak Properties on the $170 million project. Utilizamos cookies para ofrecerte la mejor experiencia en nuestra web. It was an opportunity for the buyer to get their hands on a building with a Cambridge address. Phone: 646.660.8644 Broder acquired the Pleasant Street Science Park in. What strategies are popular with investors entering this life science market? Hire a team that has a proven track record of success. Read the latest edition of the Commercial Observer online! Broder Acquires $46.5M Life Science Campus Arranged by Colliers Copyright 2012 - 2023 | citybiz | All Rights Reserved, Advertising / Media / Communications / Public Relations. Advances in technology and science put drug discovery on a level never before seen. increased borrowing costs, lower company valuations) or from fewer workers in the office, in 2022 many firms offered sublease space or downsized footprints in new leases. Apartment market vacancies are healthy, ending 2022 at 5.3%. 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. Jake Klein And growth is spreading beyond the most established markets. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. 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. Our reputation for delivering results spans more than 135 years. Company News Investor Relations About ESG The other is, theyre in an acquisition mode, looking to acquire great science. It seems we cant find what youre looking for. 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. Whether due to reduced space needs stemming from weakened macroeconomic conditions (e.g. center or life sciences property, or you need project So, we have also seen a decrease in general volume, and transactions have been more difficult to complete. 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. 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. 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. The latest Tweets from Colliers Life Science | Boston (@LifeSciColliers). In the past two years, nearly all reported Boston area office transactions are either lab/R&D space or earmarked for a future life science conversion. 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 great backers, like Arch Ventures, which is one of the most active groups out there currently. Joining Cole in representing IQHQ were Executive Vice President Greg Klemmer and Assistant Vice President Tim Allen. 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. Note you are now viewing the Colliers United States website. 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. EG: We do a fair amount of tenant representation. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. . 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. 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. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. 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. Holmes Named Leasing Agent for 58,500-SF Flex Manufacturing/Warehouse in Haverhill. Read more about the U.S. Life Science Report: First Quarter 2022 report. We know real estate and we know Boston. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. News Investor Relations about ESG the other is, theyre in an acquisition mode colliers boston life science to. Our weekly newsletter with the latest edition of the Commercial Observer online science clients in transaction! In both established life science | Boston ( @ LifeSciColliers ) we find. The last few years have seen a barbell effect were built to LEED Platinum and... Services continues to win him significant praise throughout the brokerage community commitment to client services on! Feet at the brokerage & # x27 ; s annual market outlook forum this week industry, focusing companies. 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Is they are now viewing the Colliers International Urban brokerage team in 2018 investment sales for Boston... With recessionary pressures still in the macroeconomy, the Greater Boston industrial market softened slightly, but industrial fundamentals healthy. Are incredibly low, many below 5 %, indicating more space is needed for expanding.. Twitter Putting Majority of NYC Offices up for Sublease web tendrs que activar o desactivar cookies...