The life science market had an IPO once every three days in 2020, for a total valuation of $90.3 billion. 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. IPOs also set new highs. managing director of investment sales for Colliers Boston, said at the brokerage's annual market outlook forum this week. Holmes Sells 165 Flagship Drive in North Andover for $4,650,000. We did a big Eli Lilly deal there, and CRISPR and Vertex are there as well. 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. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. 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. We are part of its history and are deeply dedicated to the community and to serving you. He focuses his efforts on supporting tenants within the Life Science, Technology, Legal, Educational and Financial industries. 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. 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. Major life science leases are getting done in Boston. R.W. 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. Executive Vice President | Healthcare and Life Sciences, Joe joined Colliers International in 2012 to lead and grow Colliers Office Brokerage Division. 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. 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. 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. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. Colliers' Boston Life Science Practice aims to deliver innovative physical space solutions where ideas can emerge, be nurtured, and ultimately improve lives. These honorees will recognized on April 14, 2022 during a breakfast award ceremony at the Newton Marriott Hotel in Newton, MA. 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. The top 12 markets have a combined 13.8 million square feet underway. Phone: 646.660.8644 The Urban Brokerage Team focuses on tenant advisory and landlord representation assignments within Boston's dynamic downtown and peripheral urban markets. Our Colliers life sciences expert will work with you to find the right capacity and environment to maximize efficiencies and minimize costs. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. center or life sciences property, or you need project His in-depth market knowledge, professionalism and commitment to client services continues to win him significant praise throughout the brokerage community. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. Its exciting to see this type of growth, going from 20 employees to 150-plus. Oncorus was represented by JLLs Peter Bekerian in the transaction. Company News Investor Relations About ESG These qualities will allow the company to deliver optimal solutions to its valued clients by challenging how its employees think and work on a daily basis. 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. 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. Note you are now viewing the Colliers United States website. Colliers Life Science Team | @Colliers_Boston #Cambridge | Experienced #CRE advisors working with #LifeScience #Biomanufacturing & emerging #Biotech companies. Whether you are looking to lease, purchase, build or rationalize capacity youll have a team with detailed local market knowledge, industry expertise and national connectivity to expedite even the most sophisticated projects. Whether you are looking to lease or invest in a rese 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. 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. While the market momentum continued into Q3 and Q4, the Philadelphia Life Sciences Cluster began to show indications that it was not immune from the impacts of rising interest rates, inflation and more conservative investment attitudes towards both real estate and early-stage drug development. 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. What strategies are popular with investors entering this life science market? Goldin Solutionsfor Colliers 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. 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. 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. 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. We know real estate and we know Boston. 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. 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. 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. EG: Over the past 10 months, the number of IPOs here in Massachusetts dropped significantly. It seems we cant find what youre looking for. IQHQ acquired the 211,940-SF life science campus from owner-occupier, Eisai, Inc., back in early 2020, and in partnership withColliershas completed leases to UMASS and Ora Clinical in addition to this latest signing. They have invested significant capital into what was already first-class space with the goal of making it a life science destination for multiple GMP users all under one roof.. 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. Throughout his career with Colliers International, John has represented numerous owners in the leasing of over 3 million square feet of space. Colliers Life Sciences Review - Boston - Free download as PDF File (.pdf), Text File (.txt) or read online for free. Jake Klein Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. John Carroll, III joined Colliers International in 1993. For now, the Boston metropolitan area, including Cambridge, is slightly smaller with about 32 million square feet (3 million square meters) of life-sciences space, compared with almost 34 million . Advances in technology and science put drug discovery on a level never before seen. 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. The other is, theyre in an acquisition mode, looking to acquire great science. 12/03/2020 - Despite development slowdown, the state's life science industry keeps on building. 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. 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. Other areas attracting life science growth include Boulder, Columbus, Houston, Los Angeles, Minneapolis, New Haven, Phoenix, and Pittsburgh, among others. 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. With Institutional investors beginning to allocate portions of their portfolios to life science, capital influx is just beginning. She brings to Colliers excellent leadership qualities developed over the course of a 15-year career working hands-on with various biotech firms. Jack works to createvalue for his clients through an understanding of the local as well as global commercial real estate market. That has changed. Colliers announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. This has raised tremendous amounts of capital that is driving demand for lab and life science space. Oncorus, whose R&D headquarters will remain in Cambridge, will occupy Innovation Park at 4 Corporate Drive as an additional location for high-quality GMP clinical manufacturing space. The well-established hubs continue to draw strong interest and expansion. 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. There are a variety of successful processes that our teams follow when guiding clients through transitional strategies. 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. Direct space is coming to market, and were spending a lot more time in Kendall Square. As a member of the Boston Life Science Practice Team, Caitlin supports a wide range of tenants, from Discovery through Commercial functions. Scribd is the world's largest social reading and publishing site. About Knowledge Leader, They raised a total of $21.2 billion at IPO, for a. 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. Life science companies and researchers should focus on what they do best: changing the world one discovery at a time. The asset commanded attention from a wide range of institutional investors, with Oxford Properties ultimately being awarded the asset. 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. IPO numbers were off the charts, VC funding set new highs, and NIH grants increased, all creating unprecedented demand for life science properties. Also, areas like Watertown, Alewife and Waltham are hot submarkets due to their access to the city and the suburbs and great parking. 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. Overall, the results for 2022 were mixed as the . 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. A 14-year professional in the Life Science industry, Michael Anderstrom represents clients the sale or leasing of lab, cleanroom manufacturing, and flex space. 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. Houston, for example, has the largest share of its inventory underway, at 1.8 million square feet, or 21% of the existing market. He is an executivevice president and shareholder in the firm. Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. Life science means different things to different investors: markets vary in product type, specialization, and sophistication. 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. Growth is happening in the Washington, D.C./Maryland market, as well as in Seattle, Chicago, and New York City. Today he focuses on providing strategic solutions to local, national and global Health Care, Life Sciences and Corporate clients. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. 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. Companies that go public need to hire a significant amount of people and grow rapidly. 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. 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. Please try again. Privacy Policy My acquired knowledge in life science work has been on both the landlord (Wexford Science & Technology) and the tenant side within the industry. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. 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. It traded for around $2,000 a square foot, record pricing during this time of incredible interest rate volatility. Joe is a Healthcare Fellow and serves on Colliers National Healthcare Services and Life Sciences Steering Committees. Stay ahead with industry-leading research. Joining Cole in representing IQHQ were Executive Vice President Greg Klemmer and Assistant Vice President Tim Allen. Please try again. 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. 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