Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. 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. As more projects deliver and companies set up shop, the market will solidify its status as the nations leading biotechnology hub. Boston and the San Francisco Bay Area led the country in absorption, inventory, and VC funding, of which nearly 60% made its way to those two markets, per PitchBook. 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. 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. Receive our weekly newsletter with the latest posts and insights. Top 25 U.S. Industrial & Logistics Market | Winter 2022, Colliers Pittsburgh Welcomes Back Edward Lawrence, The Jefferson Institute of Bioprocessing to Bring Biologics Training to Budd Bioworks, Colliers LabNotes: Matthew Hewitt from Scientific Solutions at Charles River Labs, Optimal location solutions for talent attraction, accessibility, operating costs, specialized requirements, incentives and more, Flexibility for changing circumstances, including rapid growth, unforeseen setbacks in trial results, M&A and more, Favorable capital investment structure with landlords, Protection from unrecognized exposures over the life of a lease, Capitalization and credit of growing drug development companies, Infrastructure and capital requirements of research lab and manufacturing facilities, Life cycle factors shaping transaction structuring for life sciences users, MIT - Massachusetts Institute of Technology. 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. Email: colliers@goldin.com. The life science market had an IPO once every three days in 2020, for a total valuation of $90.3 billion. 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. Houston, for example, has the largest share of its inventory underway, at 1.8 million square feet, or 21% of the existing market. Terms of Use Read the latest edition of the Commercial Observer online! That has changed. 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. But other markets are aiming to make their mark as well. 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. IPOs also set new highs. 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. Throughout his career with Colliers International, John has represented numerous owners in the leasing of over 3 million square feet of space. Revolutionary. His comprehensive approach including assisting clients to identify an efficient spaceprogram; impartially surveyall viable properties;tenaciously negotiating favorableterms; and procuringarchiects, contractors andconsultants for implementation. The property will also feature shared space for local biotech startups. Boston, MA Colliers has appointed Kim Barry as senior vice president in the Boston life science practice group. Hire a team that has a proven track record of success. They have completed thousands of transactions including renewals, new leases, build to suits, purchases and salestransactions. Oncorus was represented by JLLs Peter Bekerian in the transaction. 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. 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. IPO numbers were off the charts, VC funding set new highs, and NIH grants increased, all creating unprecedented demand for life science properties. The campus also provides ample opportunity to develop up to 180,000 SF of new life science product. This industry is still in the early stages of growth in most markets. 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. Conversions are taking place across the country, but the scale at which they are growing in Boston is second to none. But ultimately, the outlook for future absorption is positive. 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. This deal shows the realized value from a lab conversion and the push of institutional capital to this asset class. The future pipeline of new development is concentrated in Boston and the San Francisco Bay Area, suggesting that capital will continue to target the biggest markets in the U.S. Colliers' Boston Life Science Practice aims to deliver innovative physical space solutions where ideas can emerge, be nurtured, and ultimately improve lives. Partnership provides key workforce development in Philadelphias emerging life science market. Whether you are looking to lease or invest in a rese They have great backers, like Arch Ventures, which is one of the most active groups out there currently. Empty space is rare. Matt Sherry: What were seeing on our side is similar. Weve seen a handful of elephant-type requirements fall in the 300,000-to-600,000-square-foot range. His team provides aone stop solutions for account management, lease administration, workplace strategy, labor analytics, capital markets, project management, andincentives procurement services. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. With a staff of over 130 working out of the Colliers Boston offices, we take a strategic approach to on-going company growth and talent acquisition, making sure that our people represent and uphold our overall company culture and values. 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. 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. Growth is happening in the Washington, D.C./Maryland market, as well as in Seattle, Chicago, and New York City. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. What has happened to rents in the region since the start of the pandemic? Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn. 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. He also oversaw an 8.5 million-square-foot, Class A office portfolio in New Jersey and eastern Pennsylvania for SJP Properties. Thats empowering to them and exciting for the biotech community. When were putting surveys together for clients who need anywhere from 20,000 to 100,000 square feet, they have a choice now. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. 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. Note you are now viewing the Colliers United States website. Medical device makers dominate markets such as Orange County, while plant science is a strength in St. Louis. Our Colliers life sciences expert will work with you to find the right capacity and environment to maximize efficiencies and minimize costs. Open navigation menu As part of the Life Science team, Tim actively represents Tenants and Landlords locally and globally. Stay ahead with industry-leading research. 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. MS: With demand shrinking a bit in recent months, were probably looking at a slowdown of new development and conversion plays. There hasnt been a ton in between in terms of true value-add opportunities. 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. Jake Klein Evan, what types of companies are active in the Boston leasing market for life sciences? 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. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. 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.. 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 will call on her deep experience and knowledge of the sector and the . 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. Originally from South Boston, Barry lives in North Reading with her husband and five-year old son. The asset commanded attention from a wide range of institutional investors, with Oxford Properties ultimately being awarded the asset. 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