Life Sciences

77-Corporate-Drive-Bridgewater-New-Jersey

Legacy Investing Completes 210,000 SF Life Sciences Conversion Project in Bridgewater, New Jersey

by Taylor Williams August 8, 2023

BRIDGEWATER, N.J. — Virginia-based Legacy Investing has completed a project in the Northern New Jersey community of Bridgewater that converted a 210,000-square-foot office building into a life sciences facility. The building at 77 Corporate Drive offers proximity to multiple interstates as well as Newark Liberty International Airport. A Fortune 500 global life sciences company recently signed a lease at the building, and Legacy Investing has engaged Cushman & Wakefield to market the remainder of the space for lease.

August 8, 2023

Development Life Sciences Texas

McCord Development to Build 45-Acre Life Sciences Campus at Houston’s Generation Park

by Taylor Williams August 7, 2023

HOUSTON — McCord Development will build a 45-acre life sciences campus at Generation Park, the company’s 4,300-acre master-planned development in northeast Houston. Known as BioHub Two, the 500,000-square-foot campus represents the first phase of a larger life sciences development initiative at Generation Park and will house manufacturing, lab and traditional office space. McCord has concurrently invested $30 million in infrastructural upgrades to support the site. The construction timeline is contingent upon McCord securing a tenant or buyer for the site. Once a deal is secured, McCord could have buildings ready for occupancy within 18 to 24 months.

August 7, 2023

Illinois Leasing Activity Life Sciences Midwest

Belay Diagnostics Signs 4,000 SF Lease at Fulton Labs in Chicago

by Kristin Harlow August 7, 2023

CHICAGO — Belay Diagnostics has signed a 4,000-square-foot lease within the science-ready lab suites at Fulton Labs in Chicago. The company, which uses a proprietary molecular testing platform licensed from Johns Hopkins to revolutionize how brain and spinal cord cancers are detected, will move into the fifth-floor space beginning in September. The science-ready lab suites at Fulton Labs are move-in ready private labs spanning 3,000 to 7,000 square feet. Dan Lyne and Kelsey Scheive of CBRE represented ownership, Trammell Crow Co.

August 7, 2023

Acquisitions Life Sciences Massachusetts Northeast Office

Newmark Brokers $58M Sale of Two Office, Life Sciences Buildings in Andover, Massachusetts

by Taylor Williams July 28, 2023

ANDOVER, MASS. — Newmark has brokered the $58 million sale of two office and life sciences buildings totaling 273,662 square feet in Andover, a northern suburb of Boston. The building at 50 Minuteman Road totals 145,262 square feet and serves as the headquarters of Mercury, a provider of technology solutions for the aerospace and defense industries. The facility at 6 Technology Drive spans 128,400 square feet and serves as a design, development and manufacturing hub for Dräger, a supplier of medical and safety technology products. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller, California-based REIT Peakstone Realty Trust, in the transaction. The team also procured the buyer, Boston-based Rhino Capital Advisors.

July 28, 2023

California Leasing Activity Life Sciences Western

Three Biotech Companies Sign Leases at GENESIS-Del Mar’s San Diego Life Sciences Hub

by Jeff Shaw July 28, 2023

SAN DIEGO — Phase 3 Real Estate Partners has signed three new leases with life sciences companies at GENESIS-Del Mar, an 86,000-square-foot lab building in the Del Mar Heights submarket of San Diego. The building is located at 12250 El Camino Real. The new biotech companies, Mabwell Therapeutics, Genece Health and Lygos, will occupy spaces ranging from 4,000 square feet to 12,000 square feet. JLL’s Chad Urie, Grant Schoneman and Taylor DeBerry represented Phase 3 Real Estate Partners in the three lease transactions.

July 28, 2023

Illinois Leasing Activity Life Sciences Midwest

Two Tenants Expand Leases Within Fulton Labs in Chicago

by Kristin Harlow July 19, 2023

CHICAGO — Two tenants have expanded their leases within Fulton Labs, a 725,000-square-foot, two-building life sciences development in Chicago. The Chan Zuckerberg Biohub Chicago, a biomedical research institute launched by Priscilla Chan and Mark Zuckerberg, signed a lease for 28,200 square feet at 400 N. Aberdeen St. The tenant initially signed a lease earlier this year at Fulton Labs’ other building, which is located at 1375 W. Fulton St. Since there is no further space at 1375 W. Fulton, the biohub will move into a new space at 400 N. Aberdeen in the first quarter of 2024, and temporarily occupy space in a science-ready lab suite at 1375 W. Fulton until then. Venture accelerator Portal Innovations is expanding its lease from 6,000 to 55,000 square feet at 400 N. Aberdeen. ESG Architects, CRB Group and Power Construction are completing the interior build-outs for both tenants. Dan Lyne of CBRE represented ownership, Trammell Crow Co.

July 19, 2023

Leasing Activity Life Sciences Massachusetts Northeast

Envision Energy Signs 35,276 SF Life Sciences Lease in Burlington, Massachusetts

by Taylor Williams July 19, 2023

BURLINGTON, MASS. — Envision Energy, a Chinese provider of wind turbines and other renewable energy products, has signed a 35,276-square-foot life sciences lease in Burlington, a northwestern suburb of Boston. The tenant has committed to a full-building lease within Northwest Park, a facility that is owned by Nordblom Co. Jim Boudrot, Steve James and Patrick Grady of Hunneman represented the tenant in the lease negotiations.

July 19, 2023

Acquisitions Colorado Life Sciences Loans Western

Essex Arranges $58.5M Financing for Acquisition of Seagate R&D Campus in Longmont, Colorado

by Jeff Shaw July 12, 2023

LONGMONT, COLO. — Essex Financial Group has arranged a $58.5 million acquisition loan for the purchase of the Seagate campus in Longmont. The state-of-the-art R&D facility, spanning more than 533,000 square feet, was acquired by Conscience Bay Co. and Battery Global Advisors. The campus, which includes lab space, offices and amenities, is leased back to Seagate Technology Holdings. The financing arrangement aligns with CBC’s strategy of acquiring income-producing assets in Colorado.

July 12, 2023

Princeton-West-Innovation-Campus-Hopewell

Development Life Sciences New Jersey Northeast

Lincoln Equities, H.I.G. to Develop 380,000 SF Life Sciences Project in Hopewell, New Jersey

by Taylor Williams July 7, 2023

HOPEWELL, N.J. — A partnership between Lincoln Equities Group and New York City-based H.I.G. Realty will develop a three-building, 380,000-square-foot life sciences project in Hopewell, located just outside of Trenton. The site is located within Princeton West Innovation Campus, which is a redevelopment of the former campus of pharmaceutical giant Bristol Myers Squibb. The campus also features 250,000 square feet of traditional office space, and 200 acres of the site have been preserved as farmland and open public space. JLL handles leasing of Princeton West Innovation Campus. Construction is expected to begin in January. The partnership acquired the property in summer 2020.

July 7, 2023

Development Life Sciences New Jersey Northeast

Hx2 Development Underway on 100,000 SF Life Sciences Project in Trenton

by Taylor Williams July 5, 2023

TRENTON, N.J. — Locally based firm Hx2 Development is underway on construction of a 100,000-square-foot life sciences project in Trenton’s Chambersburg neighborhood. The transit-served facility, which is known as Building 114, will be located within Roebling Center, a five-building, 7.1-acre mixed-use redevelopment. Shell construction of the building is expected to be complete by the end of the year. JLL has been appointed as the leasing agent.

July 5, 2023

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