He is currently assisting in multiple transactions in the majority ofSan Diego County markets as well as around the United States. Colliers Life Science Team | @Colliers_Boston #Cambridge | Experienced #CRE advisors working with #LifeScience #Biomanufacturing & emerging #Biotech companies. Broder acquired the Pleasant Street Science Park in. So, we have also seen a decrease in general volume, and transactions have been more difficult to complete. Life science means different things to different investors: markets vary in product type, specialization, and sophistication. He focuses his efforts on supporting tenants within the Life Science, Technology, Legal, Educational and Financial industries. Life science companies and researchers should focus on what they do best: changing the world one discovery at a time. The largest investment sales were in the Boston market, which had multiple billion-dollar-plus transactions, in 2021. Medical device makers dominate markets such as Orange County, while plant science is a strength in St. Louis. 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. R.W. These factors are driving tremendous growth in both established life science hubs and numerous other markets. . One is that they were quiet during the pandemic, so one theory is they are now coming out of hibernation. As compared to some other major metropolitan areas, geographically speaking, Boston and the surrounding suburban outposts make up a relatively small, densely populated, developed footprint with some of the most far-reaching suburban towns being less than 35 miles from CBD Boston. 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). We are part of its history and are deeply dedicated to the community and to serving you. An unexpected error has occurred. 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. Boston, for one, had $5.7 billion in investment in existing office, lab, and industrial/flex buildings last year. Apartment market vacancies are healthy, ending 2022 at 5.3%. 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. center or life sciences property, or you need project Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. An unexpected error has occurred. His team provides aone stop solutions for account management, lease administration, workplace strategy, labor analytics, capital markets, project management, andincentives procurement services. Hire a team that has a proven track record of success. 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. Ms informacin sobre nuestra poltica de cookies, Deblur Comunicacin 2020. Chicago, too, is attracting new inventory, with multiple projects driving the 1.2 million square feet of development (20% of inventory). Weve seen a handful of elephant-type requirements fall in the 300,000-to-600,000-square-foot range. sophisticated projects. Privacy Policy Im pleased to join the Colliers team, which has repeatedly proven itself one of the most talented in the area.. 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. 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.. Open navigation menu EG: Big Pharma has been extremely active over the last 120 days. We have the data and insight you need to really know the Boston market and beyond. Terms of Use Advances in technology and science put drug discovery on a level never before seen. Puedes aprender ms sobre qu cookies utilizamos o desactivarlas en los ajustes. 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. Our Colliers life sciences expert will work with you to find the right capacity and environment to maximize efficiencies and minimize costs. Barry will call on her deep experience and knowledge of the sector and the . Utilizamos cookies para ofrecerte la mejor experiencia en nuestra web. 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. 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. Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. People credit this to two things. 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. Its exciting to see this type of growth, going from 20 employees to 150-plus. 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. She is an Emmanuel College graduate with a concentration in biology. 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. With Institutional investors beginning to allocate portions of their portfolios to life science, capital influx is just beginning. 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. The top 12 markets have a combined 13.8 million square feet underway. 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. 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. 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. 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. We know real estate and we know Boston. Investors poured record venture capital (VC) funding into the life science industry in 2021. Evan, what types of companies are active in the Boston leasing market for life sciences? Thats empowering to them and exciting for the biotech community. As a member of the Boston Life Science Practice Team, Caitlin supports a wide range of tenants, from Discovery through Commercial functions. ensure on-time and under-budget delivery of the most 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. 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. Growth is happening in the Washington, D.C./Maryland market, as well as in Seattle, Chicago, and New York City. Boston, MA Colliers has appointed Kim Barry as senior vice president in the Boston life science practice group. Copyright 2012 - 2023 | citybiz | All Rights Reserved, Advertising / Media / Communications / Public Relations. 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. 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. This has raised tremendous amounts of capital that is driving demand for lab and life science space. 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. Colliers' Boston Life Science Practice aims to deliver innovative physical space solutions where ideas can emerge, be nurtured, and ultimately improve lives. 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. It was an opportunity for the buyer to get their hands on a building with a Cambridge address. 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. 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. IPOs also set new highs. And growth is spreading beyond the most established markets. The latest Tweets from Colliers Life Science | Boston (@LifeSciColliers). WATERTOWN, MA, October 8, 2021 Colliers (NASDAQ and TSX: CIGI) announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. New deliveries in 2022 will open the door for more absorption. For the early- and mid-stage companies, whether theyre private or public, it comes down to two things. My acquired knowledge in life science work has been on both the landlord (Wexford Science & Technology) and the tenant side within the industry. The campus also provides ample opportunity to develop up to 180,000 SF of new life science product. We have loyal, committed leadership and incredible talent at all tenure levels, making Colliers | Boston an energetic and diverse work environment for its employees. 313 Pleasant St. in Watertown A Boston-based residential and hospitality developer is dipping its toes in the life sciences fray. Note you are now viewing the Colliers United States website. 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. Executive Vice President | Healthcare and Life Sciences, Joe joined Colliers International in 2012 to lead and grow Colliers Office Brokerage Division. This deal shows the realized value from a lab conversion and the push of institutional capital to this asset class. We are experts at structuring lease and purchase transactions that reflect the significant capital investment required to support research and manufacturing operations while addressing the life cycle of funding for these operations. These are the words that come to mind when describing the current life sciences landscape. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. There hasnt been a ton in between in terms of true value-add opportunities. That is largely driven by a collaborative effort of the medical and academic institutions of the Texas Medical Center. He leadsteam of six professional who specialize in local brokerage and account portfolio management. One is the founders and the backers, people with incredible track records. EG: Kendall Square had zero vacancy over the last three years, so we were spending more time in secondary markets. Prior to joining Colliers in 2008, he worked in similar capacities at competitors CBRE and C&W. Colliers announces it has secured an 81,293 square-foot sublease on behalf of Tegra Medical at 9 Forge Parkway in Franklin. 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. 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. Notably, Broder has recently completed two significant projects in Chicago and the Berkshires. She provides exemplary consultative services to landlord and tenant clients in the fast-growing life science and technology industries. Our reputation for delivering results spans more than 135 years. 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. Research and development lab and cGMP manufacturing spaces are setting new pricing records as real estate investors clamor to get into this asset class. That has changed. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. Vacancies in most markets are incredibly low, many below 5%, indicating more space is needed for expanding tenants. 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.. David specializes in tenant representation for office, lab, industrial, retail, education and specialty facilities. 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. 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. So back to my barbell comment earlier, it has been core or development. 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. 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. What strategies are popular with investors entering this life science market? 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. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. 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. John has represented developers, institutions and companies in the leasing, sale, disposition and acquisition of real estate in the Greater Boston Metropolitan area. Colliers life sciences experts are a network of real estate advisors across North America working in primary, secondary and emerging life science clusters. management or construction management services, 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. This industry is still in the early stages of growth in most markets. Privacy Policy Throughout his career with Colliers International, John has represented numerous owners in the leasing of over 3 million square feet of space. Those are real needle movers. He also oversaw an 8.5 million-square-foot, Class A office portfolio in New Jersey and eastern Pennsylvania for SJP Properties. Learn more! Originally from South Boston, Barry lives in North Reading with her husband and five-year old son. Early-to-mid-stage companies are scaling up and seeking bigger real estate footprints. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. EG: Over the past 10 months, the number of IPOs here in Massachusetts dropped significantly. These honorees will recognized on April 14, 2022 during a breakfast award ceremony at the Newton Marriott Hotel in Newton, MA. Breakthrough Properties first quarter completion of The 105 added 260,000 square feet at the Seaport, fully leased by CRISPR. 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. Myknowledge of market conditions and influences in the life sciences supports my ability to be creative in structuring the financial details of both lease and purchase transactions. 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. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. Skip to main content Skip to footer Note you are now viewing the Colliers United States website. For further information, please contact: His in-depth market knowledge, professionalism and commitment to client services continues to win him significant praise throughout the brokerage community. Our reputation for delivering results spans more than 135 years. Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. John Carroll, III joined Colliers International in 1993. Matt, lets talk about investment sales in the region. All Rights Reserved. We did a big Eli Lilly deal there, and CRISPR and Vertex are there as well. 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. 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. Note you are now viewing the Colliers United States website. He is an executivevice president and shareholder in the firm. A strong advisor and negotiator on behalf of his clients both locally and nationally, Mr. Gallagher works with a balanced level of both patience and persistence. Partnership provides key workforce development in Philadelphias emerging life science market. 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. 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. 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. 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. Copyright 2022 Colliers International Oncorus was represented by JLLs Peter Bekerian in the transaction. He is also a founding member of the firm's Tenant Advisory Councilconsisting of the firm's Top 100 "Tenant Rep" brokers globally. After carefully listening to your vision, we customize each process to deliver the best results that match your checklist of goals. Joes background in architecture, real estate development and financial analysis provides clients with an experienced professional and strategic leader who integrates complex factors to create successful results for clients. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. 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. 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. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. 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. Twitter Putting Majority of NYC Offices Up for Sublease. Conversions happening throughout that market, from the city to the suburbs, are driving tremendous capital flows to office and industrial assets. , which had multiple billion-dollar-plus transactions, in 2021 manufacturing spaces are setting pricing!, Chicago, and transactions have been more difficult to complete Rights Reserved Advertising... Exciting for the early- and mid-stage companies, whether theyre private or Public, it comes down to things. Lilly deal there, and transactions have been more difficult to complete Jersey and eastern Pennsylvania for SJP.. 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