REBusinessOnline

Newmark Arranges $815M Sale of Charles Park Office Complex in Cambridge, Massachusetts

CAMBRIDGE, MASS. — Newmark has arranged the $815 million sale of Charles Park, a two-building office complex and parking garage in Cambridge. The Davis Cos. and Principal Real Estate Investors sold the asset to an affiliate of Alexandria Real Estate Equities Inc. (NYSE: ARE).Charles Park spans 408,259 square feet and consists of two Class A office buildings, One Rogers Street and One Charles Park. The property also includes a 656-space, seven-level parking garage. Alexandria plans to …

Cushman & Wakefield Arranges $92M Sale of Life Sciences Building in St. Louis

ST. LOUIS — Cushman & Wakefield has arranged the sale of [email protected] in St. Louis for $92 million. The 151,829-square-foot life sciences building is fully leased and serves as the headquarters of Benson Hill Biosystems, a food technology company. Completed in 2020, the property features office and lab space as well as a test kitchen, sterilization station and walk-in refrigeration units. The building is located at 1001 N. Warson Road within 39 North, a 600-acre district anchored by the …

Joint Venture to Break Ground on $1B Life Sciences Campus in North Carolina’s Research Triangle

MORRISVILLE, N.C. — A joint venture between Starwood Capital Group and Trinity Capital Advisors has announced plans to develop Spark LS, a $1 billion life sciences campus located within North Carolina’s Research Triangle in Morrisville. The 109-acre development will be located at the intersection of McCrimmon Parkway and Airport Boulevard, four miles from Raleigh-Durham Airport and five miles from Apple’s new $1 billion office campus.The 1.5 million-square-foot project is set to …

Greatland Realty Partners Tops Off 180,000 SF Life Sciences Project in Metro Boston

LEXINGTON, MASS. — Greatland Realty Partners has topped off Revolution Labs, a 180,000-square-foot life sciences project located in the northwestern Boston suburb of Lexington. Greatland is developing the project in partnership with Singerman Real Estate. SGA is the project architect, and Callahan Construction Managers is the general contractor. The development team began construction in late April 2021 and expects the building to be available for occupancy in the fourth quarter. The project …

Square Mile Capital Arranges $73.9M Loan for Life Sciences, Office Campus in Fremont, California

FREMONT, CALIF. — Square Mile Capital Management has originated a $73.9 million loan secured by Ardenwood Life Science Park, a Class A life sciences and office campus in Fremont.Square Mile Capital provided the acquisition financing to a joint venture between Invesco Real Estate and Lincoln Property Company West. Eastdil Secured’s San Francisco office arranged the financing.Originally developed in 2001, the property underwent a comprehensive renovation for lab and office use in …

Joint Venture Receives $246M Construction Loan for Life Sciences Project in Metro Boston

SOMERVILLE, MASS. — A partnership between Leggat McCall Properties, DLJ Real Estate Capital Partners and Deutsche Finance America (DFA) has received $246 million in construction financing for 808 Windsor, a life sciences development located roughly four miles outside Boston in Somerville. Brett Paulsrud and Henry Schaffer of JLL Capital Markets secured the five-year loan through Bank OZK. 808 Windsor will be positioned adjacent to the newly developed Union Square MBTA Green Line Station …

CBRE Investment Management Fund Buys 1 MSF Life Sciences Portfolio in San Francisco’s Mission Bay

SAN FRANCISCO — A fund sponsored by CBRE Investment Management, formerly known as CBRE Global Investors, has acquired a majority stake in two life sciences portfolios in the Mission Bay submarket of San Francisco. The fund made the investment, which includes a total of 1 million square feet of Class A life sciences space, through a joint venture with a life science property developer/operator that developed the portfolios.The first portfolio, located at 409/499 Illinois St. and 1500 Owens …

Spark Therapeutics to Open $575M Life Sciences Facility in Philadelphia

PHILADELPHIA — Spark Therapeutics, a locally based firm that devises and delivers gene therapy solutions, will open a 500,000-square-foot life sciences facility in Philadelphia’s University City neighborhood, a project that represents a $575 million capital investment. The facility will be part of a 1 million-square-foot campus at the intersection of 30th and Chestnut streets. Spark Therapeutics has entered into a 99-year ground lease with Drexel University to develop the project. …

City Center Realty Acquires Office Complex for Life Science Conversion in Berkeley’s Innovation District

BERKELEY, CALIF. — San Francisco-based City Center Realty Partners (CCRP), in joint venture with Contrarian Capital Management, has purchased Parker Innovation Hub, a three-building office/R&D/life sciences complex in Berkeley. The buildings, located at 2067 7th St, 918 Parker St. and 2612 8th St., comprise 40,580 square feet of office space.Scott Prosser, Mark Kol, Mike Raffetto and Jack DePuy of CBRE represented the undisclosed seller and buyer in the deal.CCRP plans to convert …

Oxford Acquires Research Triangle Park Life Sciences Campus for $158.6M, Plans 510,000 SF Expansion

DURHAM, N.C. — New York-based Oxford Properties Group has acquired Research Commons, a life sciences campus within Research Triangle Park in Durham, as well as an adjacent parcel located at 78 TW Alexander Drive for a total of $158.6 million. By combining the two sites and building three new life sciences facilities totaling 510,000 square feet, Oxford plans to ultimately develop a 940,000-square-foot innovation campus that will house various life sciences firms. The construction timeline was …

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