Northeast

Moderna Acquires 140,000 SF Biomanufacturing Facility Near Boston for $91M

by Kristin Harlow May 31, 2023

MARLBOROUGH, MASS. — Pharmaceutical giant Moderna Inc. has acquired a newly constructed biomanufacturing facility totaling 140,000 square feet in the Boston suburb of Marlborough for $91 million. Oxford Properties Group sold the speculative property, which is located at 149 Hayes Memorial Drive. Oxford originally acquired the vacant, 24-acre site in 2021 and developed it into a two-story, purpose-built biomanufacturing facility. The development features a clear height of 36 feet, four loading docks and multiple freight elevators. The facility is scheduled to open in late 2024 after undergoing substantial build-out for Moderna, which plans to generate more than 200 new jobs in Marlborough by 2026. “While initially developed with a plan to lease the asset and hold for the long term, Moderna’s unsolicited offer to acquire the property allowed us to expedite our business plan execution,” says Chad Remis, Oxford’s North America executive vice president. Oxford’s biomanufacturing portfolio in North America totals 1.4 million square feet with an additional development pipeline of roughly 600,000 square feet. Its largest concentration of facilities is in the Boston region. The Boston metro area ended 2022 with $6.7 billion in life sciences venture capital funding, according to Oxford. “Boston continues to be an unparalleled market …

May 31, 2023

Life Sciences Innovation Districts Danvers quote

Bohler Content Partner Development Features Life Sciences Midwest Multifamily Northeast Southeast Texas Western

Part 2: How to Promote Collaboration, Efficiency in Life Sciences Innovation Districts Via Design

by Sarah Daniels May 31, 2023

In the biotech and pharmaceutical sectors, life sciences innovation districts have become hubs not only for research and development but also for cooperation and inspiration between cohorts. These districts, often called innovation districts, collect together companies, research institutions, supporting entities, housing and more. Innovation districts necessitate meticulous planning and design strategies to promote scientific inquiry and efficiency. “Municipalities, schools, corporations and organizations that have close ties to their state are piloting life sciences innovation district development, allowing them to group otherwise separated uses — work, recreation, living areas and more — together. When you pair these institutions and include innovative site and building programming in a single location, you move beyond disconnected projects and amenities to a united innovation district that can magnify benefits across organizations,” explains Dan Danvers, a landscape architect project manager with Bohler, a land development consulting and site design company. This article is the design-focused component of our two-part series on life sciences innovation districts. If you would like to read about the planning component of these complex developments, please read our first article here. Moving Life Sciences Innovation Districts Forward Innovation districts must keep pace with evolving technologies and research. Life sciences industries are continually progressing, …

May 31, 2023

Development Multifamily New York Northeast

LCOR Tops Out 463-Unit Multifamily Project on Coney Island

by Taylor Williams May 30, 2023

NEW YORK CITY — Locally based developer LCOR has topped out 1515 Surf Avenue, a 463-unit multifamily project in Brooklyn’s Coney Island area. Designed by STUDIO V Architecture, the building will offer one- and two-bedroom units and amenities such as an outdoor pool, landscaped courtyard, fitness center, an indoor basketball court, multiple tenant lounges and coworking spaces. Approximately 30 percent (139) of the residences will be reserved as affordable housing. The building will also house 11,000 square feet of retail space. LRC Construction is the general contractor for the project, completion of which is slated for early 2024.

May 30, 2023

50-Robert-Milligan-Parkway-Merrimack-New-Hampshire

Bohler Development Industrial New Hampshire Northeast

Trammell Crow, Diamond Realty Break Ground on 323,750 SF Industrial Project in New Hampshire

by Taylor Williams May 30, 2023

MERRIMACK, N.H. — A partnership between Dallas-based Trammell Crow Co. and Diamond Realty Investments has broken ground on a 323,750-square-foot industrial project in Merrimack, located in southern New Hampshire. The site at 50 Robert Milligan Parkway spans 43 acres. Building features will include a clear height of 36 feet, 53 dock-high doors, an ESFR sprinkler system and 2,000 square feet of office space. Macgregor Associates designed the project, and RC Anderson and Bohler are serving as the general contractor and civil engineer, respectively. Santander Bank provided construction financing, and CBRE is the leasing agent. Completion is slated for the fourth quarter.

May 30, 2023

Civic Development Massachusetts Northeast

Simmons University Opens 80,000 SF Science Center, Renovated Library at Boston Campus

by Taylor Williams May 30, 2023

BOSTON — Simmons University has opened an 80,000-square-foot science center and renovated library as part of the second phase of the One Simmons project at its Boston campus. Designed by Elkus Manfredi Architects, the science center houses over 22,000 square feet of lab space, including a new 30-bed nursing and health science simulation center. The reimagined library features 14,000 square feet of new study and collaborative learning space. Developed in partnership with Skanska International, One Simmons is a three-phase project that includes a residential redevelopment component.

May 30, 2023

Leasing Activity Life Sciences Massachusetts Northeast Office

Newmark Arranges 47,578 SF Office, Life Sciences Lease in Burlington, Massachusetts

by Taylor Williams May 30, 2023

BURLINGTON, MASS. — Newmark has arranged a 47,578-square-foot office and life sciences lease in Burlington, a northwestern suburb of Boston. The tenant, metals processor Nth Cycle Inc., has committed to leasing space at Blue Sky Center, a 158-acre campus. Matt Malatesta, Tyler McGrail, Michael Frisoli and Margaret Fee of Newmark represented the owner, Nordblom Co., in the lease negotiations. Nick Amarante and Mekae Hyde of Hughes Marino represented the tenant. Amenities at Blue Sky Center include a fitness center, café, basketball court, gaming area and a golf simulator.

May 30, 2023

Industrial Leasing Activity New Jersey Northeast

Fashion Designer Marcus Adler Signs 24,550 SF Industrial Lease in Ramsey, New Jersey

by Taylor Williams May 30, 2023

RAMSEY, N.J. — Fashion design firm Marcus Adler has signed a 24,550-square-foot industrial lease in the Northern New Jersey community of Ramsey. According to LoopNet Inc., the single-tenant property at 91 Grant St. was built in 1980. Andrew Somple and Jessica Curry of NAI James E. Hanson represented the tenant in the lease negotiations. An entity doing business as RW Ramsey Realty Corp. owns the building.

May 30, 2023

Acquisitions Massachusetts Northeast Retail

Newmark Brokers $45.2M Sale of Metro Boston Shopping Center

by Taylor Williams May 26, 2023

HINGHAM, MASS. — Newmark has brokered the $45.2 million sale of Lincoln Plaza, a 127,505-square-foot shopping center located about 20 miles south of Boston in Hingham. A 68,087-square-foot Stop & Shop grocery store and a 31,882-square-foot Marshalls anchor the center, which was 99 percent leased at the time of sale. Robert Griffin, Jon Martin, Paul Penman and Matthew Adler of Newmark represented the seller, AEW, in the transaction and procured the buyer, a subsidiary of Jumbo Capital Inc. Casey O’Brien and Connor Scott of Newmark provided financial analysis support for the deal.

May 26, 2023

Industrial Loans Northeast Pennsylvania

Cushman & Wakefield Arranges $45M Loan for Refinancing of Eastern Pennsylvania Industrial Facility

by Taylor Williams May 26, 2023

TOBYHANNA, PA. — Cushman & Wakefield has arranged a $45 million loan for the refinancing of Arcadia North, a 1 million-square-foot industrial facility located in the Eastern Pennsylvania community of Tobyhanna. The property was built in 2020 and was fully leased to Lowe’s Home Center at the time of the loan closing. Building features include a clear height of 36 feet, four drive-in doors, 105 dock doors, 316 car parking spaces, 469 trailer parking stalls and an ESFR sprinkler system. Steve Kohn, John Alascio, Alex Hernandez, Aaron Graves, T.J. Sullivan and Jason Blankfein of Cushman & Wakefield arranged the loan through Northwestern Mutual on behalf of the borrower, institutional investors advised by J.P. Morgan Global Alternatives.

May 26, 2023

Development Industrial New York Northeast

Bristol Group Nears Completion of 178,124 SF Spec Industrial Project on Long Island

by Taylor Williams May 26, 2023

COMMACK, N.Y. — San Francisco-based developer Bristol Group is nearing completion of a 178,124-square-foot speculative industrial project in the Long Island community of Commack. The property features a clear height of 36 feet, 31 dock-high loading doors, two drive-in ramps, 205 car parking spaces and 16 trailer parking stalls. The site can also support future expansion or additional parking requirements. Full delivery is slated for June. JLL is marketing the property for lease.

May 26, 2023

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