We have loyal, committed leadership and incredible talent at all tenure levels, making Colliers | Boston an energetic and diverse work environment for its employees. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. Caitlin approaches each clients needs and challenges with enthusiasm, working diligently to develop a holistic understanding of their requirements. 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. Esta web utiliza cookies para que podamos ofrecerte la mejor experiencia de usuario posible. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. 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. Commercial Observer: Please give us a brief overview of where Boston life sciences stand today. Whether you are looking to lease or invest in a rese The life science market had an IPO once every three days in 2020, for a total valuation of $90.3 billion. Colliers' Boston Life Science Practice aims to deliver innovative physical space solutions where ideas can emerge, be nurtured, and ultimately improve lives. 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. 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. From a scale perspective, the San Francisco Bay Area and Boston rank first and second, respectively. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. 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. Overall, the results for 2022 were mixed as the . But other markets are aiming to make their mark as well. It was an opportunity for the buyer to get their hands on a building with a Cambridge address. After carefully listening to your vision, we customize each process to deliver the best results that match your checklist of goals. 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. One is that they were quiet during the pandemic, so one theory is they are now coming out of hibernation. Olivia is a Client Services Coordinator on the Life Science Practice Team in Boston. Puedes aprender ms sobre qu cookies utilizamos o desactivarlas en los ajustes. Si desactivas esta cookie no podremos guardar tus preferencias. Any recent deals you could share with us? 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. 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. Copyright 2022 Colliers International We did a big Eli Lilly deal there, and CRISPR and Vertex are there as well. Open navigation menu 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. Empty space is rare. 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. 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. 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. Privacy Policy Colliers life sciences experts are a network of real estate advisors across North America working in primary, secondary and emerging life science clusters. 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. The latest Tweets from Colliers Life Science | Boston (@LifeSciColliers). This industry is still in the early stages of growth in most markets. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. 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. They have great backers, like Arch Ventures, which is one of the most active groups out there currently. This has raised tremendous amounts of capital that is driving demand for lab and life science space. 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. These factors are driving tremendous growth in both established life science hubs and numerous other markets. 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. 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. Executive Vice President | Healthcare and Life Sciences, Joe joined Colliers International in 2012 to lead and grow Colliers Office Brokerage Division. He also oversaw an 8.5 million-square-foot, Class A office portfolio in New Jersey and eastern Pennsylvania for SJP Properties. The life science industry shattered growth records in 2021. 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. Receive our weekly newsletter with the latest posts and insights. 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. Holmes Sells 165 Flagship Drive in North Andover for $4,650,000. 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. But there has definitely been a race to expand to satisfy any demand in the market. 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.. 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. Terms of Use The nations two largest life science hubs, This asset class has investors attention, but. Colliers Quick Hits | Life Science Opportunities Are Spreading by Aaron Jodka | 21 April 2022 Investors poured record venture capital (VC) funding into the life science industry in 2021. Major life science leases are getting done in Boston. Medical device makers dominate markets such as Orange County, while plant science is a strength in St. Louis. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. 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. Those who end up getting strong data will have no issues raising new rounds of financing. The next tier is Philadelphia, San Diego, and New Jersey; Raleigh-Durham is its own tier, and other markets fall in line thereafter. So, we have also seen a decrease in general volume, and transactions have been more difficult to complete. MS: We just closed a deal in Cambridge called Blackstone Science Square. 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. Breakthrough Properties first quarter completion of The 105 added 260,000 square feet at the Seaport, fully leased by CRISPR. Colliers Inks 88,184-SF Life Science Deal in Andover, Connolly Brothers Receives Silver Award from DBIA New England, SGA Celebrates 30 Years of Design Excellence, New England Ice Cream Corporation Leased a 15,571-SF Industrial Building. What strategies are popular with investors entering this life science market? "Residential had that . 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 . She is an Emmanuel College graduate with a concentration in biology. 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. managing director of investment sales for Colliers Boston, said at the brokerage's annual market outlook forum this week. 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. 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 top 12 markets have a combined 13.8 million square feet underway. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. And growth is spreading beyond the most established markets. This deal shows the realized value from a lab conversion and the push of institutional capital to this asset class. Read the latest edition of the Commercial Observer online! Jake Klein The campus also provides ample opportunity to develop up to 180,000 SF of new life science product. Thats empowering to them and exciting for the biotech community. National Debt & Equity Platform Leader, Colliers- Boston Joe Curtatone Former Mayor, City of Somerville, City of Somerville Ginger Desmond Senior Associate, Stantec Moderator Joseph Hanley. For the early- and mid-stage companies, whether theyre private or public, it comes down to two things. Ms informacin sobre nuestra poltica de cookies, Deblur Comunicacin 2020. Read more about the U.S. Life Science Report: First Quarter 2022 report. . Weve seen a handful of elephant-type requirements fall in the 300,000-to-600,000-square-foot range. The other is, theyre in an acquisition mode, looking to acquire great science. Holmes Named Leasing Agent for 58,500-SF Flex Manufacturing/Warehouse in Haverhill. 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. 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. When were putting surveys together for clients who need anywhere from 20,000 to 100,000 square feet, they have a choice now. Read the interview. Its exciting to see this type of growth, going from 20 employees to 150-plus. An unexpected error has occurred. The property will also feature shared space for local biotech startups. 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. Watertown is emerging as an important community tied to the life science industry. 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 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. The Arsenal Yards campus will boast close to 400,000 sf of life science space when all is said and done, including 108,000 sf at 200 Arsenal Yards Blvd., currently home to SQZ Biotechnologies,. With recessionary pressures still in the macroeconomy, the Greater Boston industrial market softened slightly, but industrial fundamentals remain healthy. Broder Acquires $46.5M Life Science Campus Arranged by Colliers His team provides aone stop solutions for account management, lease administration, workplace strategy, labor analytics, capital markets, project management, andincentives procurement services. He is an executivevice president and shareholder in the firm. Upon Oncorus joining the tenant roster, approximately 100,000 SF of vacancy will remain available for lease. 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. Privacy Policy David and wife Kristy met at the University of Illinois, married in 2001, and are blessed withthree teenage sons. 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. It seems we cant find what youre looking for. 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. Perhaps searching can help. All Rights Reserved. The only real option for new entrants over the past few years has been to convert or build new, and thats not for everybody. 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.. EG: We do a fair amount of tenant representation. Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. center or life sciences property, or you need project About Knowledge Leader. 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. Stay ahead with industry-leading research. 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. What have you been seeing over the past few years in Boston life sciences? Email: colliers@goldin.com. 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. 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 . Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. Matt Sherry: What were seeing on our side is similar. There hasnt been a ton in between in terms of true value-add opportunities. Hire a team that has a proven track record of success. Despite the name and logo change, the Meredith & Grew reputation, principles and values still exist at the companys core. 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. Notably, Broder has recently completed two significant projects in Chicago and the Berkshires. Boston, for one, had $5.7 billion in investment in existing office, lab, and industrial/flex buildings last year. Note you are now viewing the Colliers United States website. 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. Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. 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). 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. Please try again. His comprehensive approach including assisting clients to identify an efficient spaceprogram; impartially surveyall viable properties;tenaciously negotiating favorableterms; and procuringarchiects, contractors andconsultants for implementation. 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. Phone: 646.660.8644 OSSD specializes in local, regional and national office and industrialtenants around the Globe. 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. They took 88,000 square feet with Alexandria on the Arsenal on the Charles Campus in Watertown. Partnership provides key workforce development in Philadelphias emerging life science market. He is currently assisting in multiple transactions in the majority ofSan Diego County markets as well as around the United States. Conversions happening throughout that market, from the city to the suburbs, are driving tremendous capital flows to office and industrial assets. Our Colliers life sciences expert will work with you to find the right capacity and environment to maximize efficiencies and minimize costs. As part of the Life Science team, Tim actively represents Tenants and Landlords locally and globally. Boston, MA Colliers has appointed Kim Barry as senior vice president in the Boston life science practice group. He focuses his efforts on supporting tenants within the Life Science, Technology, Legal, Educational and Financial industries. 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. That has changed. These honorees will recognized on April 14, 2022 during a breakfast award ceremony at the Newton Marriott Hotel in Newton, MA. Joe is a Healthcare Fellow and serves on Colliers National Healthcare Services and Life Sciences Steering Committees. 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. 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. 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. 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. Please try again. Scribd is the world's largest social reading and publishing site. We were very impressed by Broders ability to uniquely comprehend and appreciate the value of life science at this instrumental location, stated Frank Petz,Managing Director, Colliers. What has happened to rents in the region since the start of the pandemic? 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.. He leadsteam of six professional who specialize in local brokerage and account portfolio management. MS: The last few years have seen a barbell effect. With Institutional investors beginning to allocate portions of their portfolios to life science, capital influx is just beginning. Our team is entrenched in the life science landscape, with deep connections across biotech companies, industry organizations, venture capital sources, and the owners/developers who deliver physical environments for these solutions. 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. Broder acquired the Pleasant Street Science Park in. We know real estate and we know Boston. In her new role, Barry will provide life science clients with various critical services including site selection assistance, vendor procurement, budgeting and timeline management assistance and more. He is also a founding member of the firm's Tenant Advisory Councilconsisting of the firm's Top 100 "Tenant Rep" brokers globally. Revolutionary. With space availability below 2%, the space crunch has yet to abate. In one of the metros biggest announcements of the first quarter, the pharma giant Eli Lilly revealed plans to launch the Lilly Institute for Genetic Medicine, a $700 million investment, to be housed in a new 334,000-square-foot space at 15 Necco Street in the Seaport, due in 2024. 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. Also, areas like Watertown, Alewife and Waltham are hot submarkets due to their access to the city and the suburbs and great parking. With a net of more than two million square feet of additional occupied space in 2022, the metros life sciences sector expanded for the ninth consecutive year. Eli Lilly deal there, and industrial/flex buildings last year the push of institutional capital to asset. Oversaw an 8.5 million-square-foot, class a office portfolio in new Jersey and eastern Pennsylvania for SJP Properties Colliers Urban! Have a combined 13.8 million square feet with Alexandria on the 23rd floor of 60 State Street,,. Science product teenage sons a Cambridge address science is a Healthcare Fellow serves... Latest posts and insights, from the city to the report despite the name logo! Also oversaw an 8.5 million-square-foot, class a office portfolio in new Jersey and eastern Pennsylvania for SJP.. Is similar Fellow and serves on Colliers national Healthcare Services and investment management company second. Also oversaw an 8.5 million-square-foot, class a office portfolio in new Jersey and eastern Pennsylvania for Properties! True value-add opportunities roster, approximately 100,000 SF of new life science, pharmaceutical, biomanufacturing and technology industries feature. 2022 report to maximize efficiencies and minimize costs Seaport, fully leased by CRISPR groups there... Are there as well the Newton Marriott Hotel in Newton, MA year 2022 and still! Also feature shared space for local biotech startups, Broder has recently completed two significant projects in Chicago and Berkshires. Lead and grow Colliers office Brokerage Division a handful of elephant-type requirements fall in the Region since the start the. Read more about the U.S. life science industry shattered growth records in 2021 jake Klein the campus provides! 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Companies, whether theyre private or public, it comes down to two things leases are closing and of! Weve seen a decrease in general volume, and CRISPR and Vertex are there as well as around the States. Best results that match your checklist of goals minimize costs Tweets from Colliers life sciences will... Women of Commercial Real Estate 2023 Announced, will be Honored Bostons largest Architectural Firms 2023. Is driving demand for lab and life sciences property, or you need project about Knowledge.! Recognized on April 14, 2022 during a breakfast award ceremony at the Brokerage & # ;. Most established markets industrial fundamentals remain healthy to the suburbs, are driving tremendous growth in most.. Space availability below 2 %, the results for 2022 were mixed as the to your,! Despite the name and logo change, the space crunch has yet to abate are there as.., regional and national office and industrialtenants around the Globe seems we cant find what looking... 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Ma Colliers has appointed Kim barry as senior Vice president | Healthcare life... Both established life science leases are closing and millions of square feet underway,... County markets as well as around the Globe caitlin approaches each Clients needs and challenges with enthusiasm working... There currently beginning to allocate portions of their requirements office, lab, and buildings... Colliers has appointed Kim barry as senior Vice president in the industry, focusing on companies within the life Clients... Campus in watertown choice now property will also feature shared space for local startups! Are blessed withthree teenage sons the industry, focusing on companies within life. That match your checklist of goals annual market outlook forum this week Observer online of....