sophisticated projects. It was an opportunity for the buyer to get their hands on a building with a Cambridge address. As more product is completed, liquidity should only increase. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. David specializes in tenant representation for office, lab, industrial, retail, education and specialty facilities. The other is, theyre in an acquisition mode, looking to acquire great science. Colliers announces it has secured an 81,293 square-foot sublease on behalf of Tegra Medical at 9 Forge Parkway in Franklin. This deal shows the realized value from a lab conversion and the push of institutional capital to this asset class. They have great backers, like Arch Ventures, which is one of the most active groups out there currently. He leadsteam of six professional who specialize in local brokerage and account portfolio management. Privacy Policy 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. 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. These are the words that come to mind when describing the current life sciences landscape. 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. 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. Thats empowering to them and exciting for the biotech community. Email: colliers@goldin.com. One is the founders and the backers, people with incredible track records. 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. Colliers arranged the financing on 30 Dan Road as well as the $21 million sale of the Canton, Massachusetts property. Its exciting to see this type of growth, going from 20 employees to 150-plus. Partnership provides key workforce development in Philadelphias emerging life science market. 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. Conversions are taking place across the country, but the scale at which they are growing in Boston is second to none. 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. Perhaps searching can help. Broder Acquires $46.5M Life Science Campus Arranged by Colliers As a member of the Boston Life Science Practice Team, Caitlin supports a wide range of tenants, from Discovery through Commercial functions. It seems we cant find what youre looking for. 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. 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. The asset commanded attention from a wide range of institutional investors, with Oxford Properties ultimately being awarded the asset. Hear from Matthew Hewitt, Executive Director at Charles Rivers Labs on Philadelphia's cell and gene therapy life sciences, and the Multiply Labs consortium. After carefully listening to your vision, we customize each process to deliver the best results that match your checklist of goals. 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. 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. 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. Read the interview. 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. Receive our weekly newsletter with the latest posts and insights. Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. R.W. He focuses his efforts on supporting tenants within the Life Science, Technology, Legal, Educational and Financial industries. The property will also feature shared space for local biotech startups. These factors are driving tremendous growth in both established life science hubs and numerous other markets. Colliers Life Sciences Review - Boston - Free download as PDF File (.pdf), Text File (.txt) or read online for free. People credit this to two things. 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. Life science developers are paying two to three times as much per square foot for development sites as apartment developers in the urban core, according to research by Colliers International. 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. 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. 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. With recessionary pressures still in the macroeconomy, the Greater Boston industrial market softened slightly, but industrial fundamentals remain healthy. Empty space is rare. 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. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. Colliers life sciences experts are a network of real estate advisors across North America working in primary, secondary and emerging life science clusters. Overall, the results for 2022 were mixed as the . 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. . An unexpected error has occurred. Holmes Sells 165 Flagship Drive in North Andover for $4,650,000. There hasnt been a ton in between in terms of true value-add opportunities. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in . Our Colliers life sciences expert will work with you to find the right capacity and environment to maximize efficiencies and minimize costs. The latest Tweets from Colliers Life Science | Boston (@LifeSciColliers). 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. 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. 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. John Carroll, III joined Colliers International in 1993. Note you are now viewing the Colliers United States website. 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). As more projects deliver and companies set up shop, the market will solidify its status as the nations leading biotechnology hub. BOSTON Colliers International announced that it represented client, IQHQ, in a 15-year, 88,184-SF lease at Innovation Park, Andover, MA to growing Cambridge-based life science company, Oncorus. The 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. 313 Pleasant St. in Watertown A Boston-based residential and hospitality developer is dipping its toes in the life sciences fray. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. Phone: 646.660.8644 Upon Oncorus joining the tenant roster, approximately 100,000 SF of vacancy will remain available for lease. Thats pretty drastic. One is that they were quiet during the pandemic, so one theory is they are now coming out of hibernation. BOSTON - Colliers International announced that it represented client, IQHQ, in a 15-year, 88,184-SF lease at Innovation Park, Andover, MA to growing Cambridge-based life science company, Oncorus. Executive Vice President | Healthcare and Life Sciences, Joe joined Colliers International in 2012 to lead and grow Colliers Office Brokerage Division. 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 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. So, part of it is the slowdown in the IPO market. 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. Joining Cole in representing IQHQ were Executive Vice President Greg Klemmer and Assistant Vice President Tim Allen. 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. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. 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 . All Rights Reserved. Read the latest edition of the Commercial Observer online! As part of the Life Science team, Tim actively represents Tenants and Landlords locally and globally. 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. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. Additionally, he has represented institutional ownership in the disposition and acquisition of land, buildings, build-to-suits and large-scale lease transactions. Weve seen a handful of elephant-type requirements fall in the 300,000-to-600,000-square-foot range. Apartment market vacancies are healthy, ending 2022 at 5.3%. BOSTON- Basic fundamentals are healthy in the Boston life science market, which by far has the nation's largest pipeline of potential life science projects, according to a report by Colliers. 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. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. He is also a founding member of the firm's Tenant Advisory Councilconsisting of the firm's Top 100 "Tenant Rep" brokers globally. Both projects were built to LEED Platinum standards and have won numerous design awards. Chicago, too, is attracting new inventory, with multiple projects driving the 1.2 million square feet of development (20% of inventory). Please try again. Life science means different things to different investors: markets vary in product type, specialization, and sophistication. We are part of its history and are deeply dedicated to the community and to serving you. The life science market had an IPO once every three days in 2020, for a total valuation of $90.3 billion. The top 12 markets have a combined 13.8 million square feet underway. Stay ahead with industry-leading research. 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. Please try again. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. Ms informacin sobre nuestra poltica de cookies, Deblur Comunicacin 2020. Please try again. But ultimately, the outlook for future absorption is positive. Company News Investor Relations About ESG 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. This has raised tremendous amounts of capital that is driving demand for lab and life science space. management or construction management services, His in-depth market knowledge, professionalism and commitment to client services continues to win him significant praise throughout the brokerage community. To make sure that our team can deliver insightful and thoughtful life science real estate strategies to our clients, regardless of company size and the challenges they may face in entering and exiting the clinic successfully. There are a variety of successful processes that our teams follow when guiding clients through transitional strategies. Boston Has the Largest Potential Pipeline of Life Science Space in the Vertex Pharmaceuticals to occupy Related Beals planned development of 22 Drydock Avenue, Boylston Properties Launches Property Management Arm, Cresa Publishes Data-Driven Insights & Predictions for Greater Boston Real Estate Markets, R.W. 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. 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