ensure on-time and under-budget delivery of the most When were putting surveys together for clients who need anywhere from 20,000 to 100,000 square feet, they have a choice now. 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. Kim is an innovative problem-solver with a proven track record of success, said Evan Gallagher, Executive Vice President of Colliers Life Science Practice. An unexpected error has occurred. Las cookies estrictamente necesarias tiene que activarse siempre para que podamos guardar tus preferencias de ajustes de cookies. EG: Big Pharma has been extremely active over the last 120 days. managing director of investment sales for Colliers Boston, said at the brokerage's annual market outlook forum this week. Terms of Use 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. Colliers announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. 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. Caitlin approaches each clients needs and challenges with enthusiasm, working diligently to develop a holistic understanding of their requirements. 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. 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. Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. Twitter Putting Majority of NYC Offices Up for Sublease. 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. Privacy Policy His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. 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. There are a variety of successful processes that our teams follow when guiding clients through transitional strategies. Vacancies in most markets are incredibly low, many below 5%, indicating more space is needed for expanding tenants. We have the data and insight you need to really know the Boston market and beyond. Which submarkets are hot spots of tenant activity, and how might that have changed over the past few years? 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. Major life science leases are getting done in Boston. 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. They have great backers, like Arch Ventures, which is one of the most active groups out there currently. Throughout his career with Colliers International, John has represented numerous owners in the leasing of over 3 million square feet of space. One is the founders and the backers, people with incredible track records. 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.. EG: We do a fair amount of tenant representation. Copyright 2022 Colliers International 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. Hear from Matthew Hewitt, Executive Director at Charles Rivers Labs on Philadelphia's cell and gene therapy life sciences, and the Multiply Labs consortium. 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. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. Esto significa que cada vez que visites esta web tendrs que activar o desactivar las cookies de nuevo. Both projects were built to LEED Platinum standards and have won numerous design awards. Whether due to reduced space needs stemming from weakened macroeconomic conditions (e.g. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. One is that they were quiet during the pandemic, so one theory is they are now coming out of hibernation. sophisticated projects. 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. 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. Prior to joining Colliers in 2008, he worked in similar capacities at competitors CBRE and C&W. Despite the name and logo change, the Meredith & Grew reputation, principles and values still exist at the companys core. 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 life science industry shattered growth records in 2021. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in . He is an executivevice president and shareholder in the firm. Read the latest edition of the Commercial Observer online! 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. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. Upon Oncorus joining the tenant roster, approximately 100,000 SF of vacancy will remain available for lease. 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 Institutional investors beginning to allocate portions of their portfolios to life science, capital influx is just beginning. Stay ahead with industry-leading research. Notably, Broder has recently completed two significant projects in Chicago and the Berkshires. He focuses his efforts on supporting tenants within the Life Science, Technology, Legal, Educational and Financial industries. The campus also provides ample opportunity to develop up to 180,000 SF of new life science product. As more product is completed, liquidity should only increase. As more projects deliver and companies set up shop, the market will solidify its status as the nations leading biotechnology hub. Holmes Sells 165 Flagship Drive in North Andover for $4,650,000. 313 Pleasant St. in Watertown A Boston-based residential and hospitality developer is dipping its toes in the life sciences fray. Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. His team provides aone stop solutions for account management, lease administration, workplace strategy, labor analytics, capital markets, project management, andincentives procurement services. His background in ISO 13485, cGMP, cleanrooms, and FDA Regulatory and Quality requirements has proved valuable expertise for both Medical Device and Pharma business leaders seeking a flexible and compliant real estate footprint, and Landlords requiring specialized knowledge to list and market Life Science properties to the industry. Thats empowering to them and exciting for the biotech community. EG: Over the past 10 months, the number of IPOs here in Massachusetts dropped significantly. New deliveries in 2022 will open the door for more absorption. IPO numbers were off the charts, VC funding set new highs, and NIH grants increased, all creating unprecedented demand for life science properties. 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. Jack works to createvalue for his clients through an understanding of the local as well as global commercial real estate market. Advances in technology and science put drug discovery on a level never before seen. For the early- and mid-stage companies, whether theyre private or public, it comes down to two things. The largest investment sales were in the Boston market, which had multiple billion-dollar-plus transactions, in 2021. 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. 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. 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. Whether you are looking to lease or invest in a rese What have you been seeing over the past few years in Boston life sciences? But there has definitely been a race to expand to satisfy any demand in the market. Prior to joining Colliers, Charlie spent time at competitor firms where he was responsible for oversight and transaction management as the point person for transactions globally. These honorees will recognized on April 14, 2022 during a breakfast award ceremony at the Newton Marriott Hotel in Newton, MA. 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. Puedes aprender ms sobre qu cookies utilizamos o desactivarlas en los ajustes. 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.. Caitlin joined Colliers in 2021, serving as an Advisor on the Boston Life Science Practice Team. Olivia is a Client Services Coordinator on the Life Science Practice Team in Boston. 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. 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 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. Si desactivas esta cookie no podremos guardar tus preferencias. Copyright 2022 Colliers International 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. Life science companies and researchers should focus on what they do best: changing the world one discovery at a time. Any recent deals you could share with us? Chris Stickney serves as the Managing Director of Colliers' Boston Office which provides valuation and advisory services throughout New England. It was an opportunity for the buyer to get their hands on a building with a Cambridge address. An unexpected error has occurred. 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. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. 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. He also serves as the National Practice Leader of . 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,. The well-established hubs continue to draw strong interest and expansion. 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. 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. So, we have also seen a decrease in general volume, and transactions have been more difficult to complete. Growth is happening in the Washington, D.C./Maryland market, as well as in Seattle, Chicago, and New York City. They took 88,000 square feet with Alexandria on the Arsenal on the Charles Campus in Watertown. 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. Copyright 2012 - 2023 | citybiz | All Rights Reserved, Advertising / Media / Communications / Public Relations. Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. Colliers announces it has secured an 81,293 square-foot sublease on behalf of Tegra Medical at 9 Forge Parkway in Franklin. Commercial Observer: Please give us a brief overview of where Boston life sciences stand today. She provides exemplary consultative services to landlord and tenant clients in the fast-growing life science and technology industries. My acquired knowledge in life science work has been on both the landlord (Wexford Science & Technology) and the tenant side within the industry. Barry will call on her deep experience and knowledge of the sector and the . Also, areas like Watertown, Alewife and Waltham are hot submarkets due to their access to the city and the suburbs and great parking. Revolutionary. 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. 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. Colliers Life Sciences Review - Boston - Free download as PDF File (.pdf), Text File (.txt) or read online for free. 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. 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. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. 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. Jake Klein 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. She brings to Colliers excellent leadership qualities developed over the course of a 15-year career working hands-on with various biotech firms. The latest Tweets from Colliers Life Science | Boston (@LifeSciColliers). 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. 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. What strategies are popular with investors entering this life science market? Executive Vice President | Healthcare and Life Sciences, Joe joined Colliers International in 2012 to lead and grow Colliers Office Brokerage Division. An unexpected error has occurred. Broder Acquires $46.5M Life Science Campus Arranged by Colliers After carefully listening to your vision, we customize each process to deliver the best results that match your checklist of goals. Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. 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. This deal shows the realized value from a lab conversion and the push of institutional capital to this asset class. We did a big Eli Lilly deal there, and CRISPR and Vertex are there as well. Boston, for one, had $5.7 billion in investment in existing office, lab, and industrial/flex buildings last year. The other is, theyre in an acquisition mode, looking to acquire great science. She is an Emmanuel College graduate with a concentration in biology. We know real estate and we know Boston. Apartment market vacancies are healthy, ending 2022 at 5.3%. 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. 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. Joining Cole in representing IQHQ were Executive Vice President Greg Klemmer and Assistant Vice President Tim Allen. The life science market had an IPO once every three days in 2020, for a total valuation of $90.3 billion. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. Throughout the pandemic, the life sciences sector has been the Superman of commercial real estate, growing far beyond the sectors pre-COVID performance. Please try again. His in-depth market knowledge, professionalism and commitment to client services continues to win him significant praise throughout the brokerage community. Colliers arranged the financing on 30 Dan Road as well as the $21 million sale of the Canton, Massachusetts property. 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. Michael is also active on the Colliers National Life Science Steering Committee, which provides leadership and strategyto Colliers real estate brokers specializing in Life Science industry representation and transactions in major Life Science clusters across the United States. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. 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. 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. 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. 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. Those are real needle movers. 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. Note you are now viewing the Colliers United States website. In 2020 Boston and San Diego led the country in positive net absorption, at 1.2 million square feetand 405,000 square feet, respectively. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. Associate Vice President and Life Science and Health Technology Principal. Skip to main content Skip to footer Note you are now viewing the Colliers United States website. 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. Perhaps searching can help. 12/03/2020 - Despite development slowdown, the state's life science industry keeps on building. 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. 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 While that encompasses 45% of all volume in those asset types, it doesnt include land purchases. 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. 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 . 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. Email: colliers@goldin.com. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. It traded for around $2,000 a square foot, record pricing during this time of incredible interest rate volatility. our team has the market knowledge and connections to Navigating this quickly-shifting sector requires deep expertise and a team of committed professionals, which Colliers has plenty of. Chicago, too, is attracting new inventory, with multiple projects driving the 1.2 million square feet of development (20% of inventory). 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. "Residential had that . As part of the Life Science team, Tim actively represents Tenants and Landlords locally and globally. Utilizamos cookies para ofrecerte la mejor experiencia en nuestra web. Joe is a Healthcare Fellow and serves on Colliers National Healthcare Services and Life Sciences Steering Committees. Empty space is rare. Evan, what types of companies are active in the Boston leasing market for life sciences? He is also a founding member of the firm's Tenant Advisory Councilconsisting of the firm's Top 100 "Tenant Rep" brokers globally. 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. They have completed thousands of transactions including renewals, new leases, build to suits, purchases and salestransactions. In addition, he has completed over 200 tenant representation transactions totaling more than 2 million square feet. 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. Dynamic. 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. David Burden is one of the leading corporate real estate services transaction advisors in the US, a four time finalist for Chicagos tenant rep broker of the year, and has achievedColliers Chicago top producer four times since 2010 in a company with over 100 leading commercial brokers in the market. And challenges with enthusiasm, working diligently to develop up to 180,000 SF New! And expansion for $ 4,650,000 and logo change, the market has definitely been a race to expand to any... Real Estate 2023 Announced, will be Honored Bostons Largest Architectural Firms: 2023 2020, for one had! Is responsible for All aspects of Research within the life science and Health Principal! One theory is they are now coming out of hibernation there as well cookies estrictamente necesarias que..., people colliers boston life science incredible track records private or public, it comes down to two things companies are active the. For expanding tenants needs stemming from weakened macroeconomic conditions ( e.g to things! Including renewals, New leases, build to suits, purchases and.... Of where Boston life sciences public, it comes down colliers boston life science two things sublease behalf... Get their hands on a building with a concentration in biology Observer: give... 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