Kim is an innovative problem-solver with a proven track record of success, said Evan Gallagher, Executive Vice President of Colliers Life Science Practice. 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. They took 88,000 square feet with Alexandria on the Arsenal on the Charles Campus in Watertown. 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. Oncorus was represented by JLLs Peter Bekerian in the transaction. Broder Acquires $46.5M Life Science Campus Arranged by Colliers R.W. Note you are now viewing the Colliers United States website. David specializes in tenant representation for office, lab, industrial, retail, education and specialty facilities. Despite the name and logo change, the Meredith & Grew reputation, principles and values still exist at the companys core. 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. Houston, for example, has the largest share of its inventory underway, at 1.8 million square feet, or 21% of the existing market. Executive Vice President | Healthcare and Life Sciences, Joe joined Colliers International in 2012 to lead and grow Colliers Office Brokerage Division. He is also a founding member of the firm's Tenant Advisory Councilconsisting of the firm's Top 100 "Tenant Rep" brokers globally. Conversions happening throughout that market, from the city to the suburbs, are driving tremendous capital flows to office and industrial assets. Please try again. 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. IPOs also set new highs. 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. Copyright 2022 Colliers International About Knowledge Leader. 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. We know real estate and we know Boston. According to Executive Vice President Curtis Cole ofColliers Life Science Practice team, IQHQs vision for Innovation Park is truly flourishing. An unexpected error has occurred. OSSD specializes in local, regional and national office and industrialtenants around the Globe. Originally from South Boston, Barry lives in North Reading with her husband and five-year old son. 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. 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.. Revolutionary. He also oversaw an 8.5 million-square-foot, Class A office portfolio in New Jersey and eastern Pennsylvania for SJP Properties. Advances in technology and science put drug discovery on a level never before seen. 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). 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. Im pleased to join the Colliers team, which has repeatedly proven itself one of the most talented in the area.. MS: We just closed a deal in Cambridge called Blackstone Science Square. 11/13/2020 - King Street Properties begins construction on Cambridge lab partnering with Healthpeak Properties on the $170 million project. Here are key takeaways on the : Thats empowering to them and exciting for the biotech community. The Urban Brokerage Team focuses on tenant advisory and landlord representation assignments within Boston's dynamic downtown and peripheral urban markets. MS: The last few years have seen a barbell effect. It seems we cant find what youre looking for. 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. Our reputation for delivering results spans more than 135 years. 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. 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. 12/03/2020 - Despite development slowdown, the state's life science industry keeps on building. 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 Colliers life sciences experts are a network of real estate advisors across North America working in primary, secondary and emerging life science clusters. With Institutional investors beginning to allocate portions of their portfolios to life science, capital influx is just beginning. 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. That is largely driven by a collaborative effort of the medical and academic institutions of the Texas Medical Center. 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. At the same time, he promotes the Colliers brand via best-in-class research reports, weekly insight posts, thought leadership, and contributions to numerous panels, media outlets, and industry events. Colliers arranged the financing on 30 Dan Road as well as the $21 million sale of the Canton, Massachusetts property. EG: One noteworthy deal was Tome Biosciences. 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. 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. 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. Perhaps searching can help. The asset commanded attention from a wide range of institutional investors, with Oxford Properties ultimately being awarded the asset. 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. View our Colliers Boston blog, Colliers In Focus, and subscribe to begin receiving e-mail updates as new blogs get posted. ensure on-time and under-budget delivery of the most Check out the content from some of our most recent events, including our January 10th40th Annual Trends In the Real Estate Market Seminar - Connecting the Dots with Colliers International. This deal shows the realized value from a lab conversion and the push of institutional capital to this asset class. 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. Colliers | Boston, originally founded by J. Morris Meredith in 1875 who later formed the reputable Meredith & Grew partnership just 16 years later, is deeply rooted in the Boston market. 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. 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. 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. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn. 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. 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. EG: Over the past 10 months, the number of IPOs here in Massachusetts dropped significantly. All Rights Reserved. Early-to-mid-stage companies are scaling up and seeking bigger real estate footprints. Olivia is a Client Services Coordinator on the Life Science Practice Team in Boston. 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. Skip to main content Skip to footer Note you are now viewing the Colliers United States website. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. Both projects were built to LEED Platinum standards and have won numerous design awards. This has raised tremendous amounts of capital that is driving demand for lab and life science space. 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. As more projects deliver and companies set up shop, the market will solidify its status as the nations leading biotechnology hub. Email: colliers@goldin.com. The latest Tweets from Colliers Life Science | Boston (@LifeSciColliers). New deliveries in 2022 will open the door for more absorption. These are the words that come to mind when describing the current life sciences landscape. Apartment market vacancies are healthy, ending 2022 at 5.3%. Thats pretty drastic. Throughout his career with Colliers International, John has represented numerous owners in the leasing of over 3 million square feet of space. 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. 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. Watertown is emerging as an important community tied to the life science industry. 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. Seaport also continues to be hot. Throughout the pandemic, the life sciences sector has been the Superman of commercial real estate, growing far beyond the sectors pre-COVID performance. IPOs also set new highs. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. Notably, Broder has recently completed two significant projects in Chicago and the Berkshires. We were at 7 million square feet of active requirements in the marketplace about 18 months ago, and weve dropped to about 4 million square feet. Other areas attracting life science growth include Boulder, Columbus, Houston, Los Angeles, Minneapolis, New Haven, Phoenix, and Pittsburgh, among others. We are incredibly excited about leasing momentum and the establishment of a growing cluster in Bostons northern suburbs., Although the campus was previously occupied by a single user with Eisai, its layout is highly conducive and versatile for multi-tenanting. The next tier is Philadelphia, San Diego, and New Jersey; Raleigh-Durham is its own tier, and other markets fall in line thereafter. There hasnt been a ton in between in terms of true value-add opportunities. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. 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. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. Terms of Use Our reputation for delivering results spans more than 135 years. 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. That has changed. Landlords still have pricing power and rents may continue to expand. He is an executivevice president and shareholder in the firm. 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 And growth is spreading beyond the most established markets. 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. 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.. Holmes Named Leasing Agent for 58,500-SF Flex Manufacturing/Warehouse in Haverhill. 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. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. Companies that go public need to hire a significant amount of people and grow rapidly. They have completed thousands of transactions including renewals, new leases, build to suits, purchases and salestransactions. So back to my barbell comment earlier, it has been core or development. Mr. Gallagher is a veteran commercial real estate broker specializing in tenant representation with a specific focus on life science companies in the Greater Boston markets.
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