Pharmaceutical companies have captured the interest of many developers and with good reason. Softening demand for traditional office space has planners looking for alternative uses to fill out business parks and multiuse developments, and drug makers represent a promising source of highly valuable occupancy. Speculative construction that accelerated during the pandemic has given pharmaceutical manufacturers plenty of options and enabled them to be choosy in site selection. However, to compete for end users, developers must ensure their properties offer the features and amenities drug makers seek, says Matt Mrva, northeast director of planning and landscape architecture at Bohler, a land development consulting and site design firm. “Simply adding a life sciences label on conventional flex space is unlikely to lure pharma companies. Research, lab and pharmaceutical manufacturing facilities often require specialized infrastructure and site layouts,” Mrva says. “Even if a property is zoned to allow for life sciences, design and development teams need to understand the proposed operations in order to optimize the facility.” Unique Facility Requirements Depending on anticipated needs, tenants may require advanced climate control and ventilation, redundant electrical feeds, high-volume water and sewer service, on-site wastewater pretreatment, backup power generation, reinforced floors to handle the weight of …
Life Sciences
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Stockdale Capital Partners Plans 145,000 SF Medical Office, Life Sciences Project in West Los Angeles
by Amy Works
LOS ANGELES — Stockdale Capital Partners has announced plans for 656 S. Vincente Boulevard, a medical office and life sciences property in Los Angeles’ Golden Triangle area. The project will be the first new medical office and life sciences building constructed in the area in more than 20 years. The 12-story property will feature 145,000 square feet of Class A medical office and life sciences space that combines both environmental sustainability and best-in-class amenities. The building will feature electric vehicle charging stations, ample bicycle parking, direct access to a major transit thoroughfare and 418 parking spaces with full valet service for tenants and patients. The project team includes Atelier R and HMC for architectural and design services. Jones Lang LaSalle’s construction management team will support pre-construction and consulting services through the design and construction phases. The building will include an integrated solar framework capable of offsetting building energy usage; recycled building materials designed to maximize energy efficiency; high-efficiency heating and cooling systems; low-water usage plumbing and mechanical systems; drop irrigation; extensive green space; and interior and exterior gardens to help optimize air quality throughout the building. Core-and-shell completion is slated for October 2026. Angie Weber and Dana Nialsi of CBRE will …
Alexandria Real Estate Equities to Deliver Moderna’s Headquarters in Cambridge, Massachusetts in November
by John Nelson
CAMBRIDGE, MASS. — Alexandria Real Estate Equities Inc. (NYSE: ARE), an office and life sciences REIT based in Pasadena, Calif., plans to open Moderna’s (Nasdaq: MRNA) new global headquarters in Cambridge ahead of schedule. The developer will deliver the 462,100-square-foot property at 325 Binney St. in November. The building will serve as Moderna’s corporate headquarters and also house the company’s core research-and-development operations. The property will be situated within Alexandria Center at the One Kendall Square mega campus, which is located near other life sciences firms and top-tier institutions in the Greater Boston area, including Harvard University and MIT. “We value our longtime strategic relationship with Alexandria. It has been a privilege to work with their team to develop our new headquarters and science center designed to be the most sustainable laboratory building in Cambridge,” says Jamey Mock, chief financial officer of Moderna. Moderna will use the facility to continue to hone and make advances in its mRNA medicines and therapeutics to combat a wide range of diseases, including COVID-19. Alexandria Real Estate Equities is targeting for the new property to achieve LEED Zero Energy, LEED Platinum Core & Shell, Fitwel Life Science and WiredScore Platinum certifications. The property will …
DALLAS — General contractor and construction management firm Swinerton has topped out Bridge Labs at Pegasus Park, a 135,000-square-foot life sciences project in northwest Dallas. The project represents the latest phase of the 23-acre Pegasus Park development. A partnership between Montgomery Street Partners, J. Small Investments and Lyda Hill Philanthropies owns Pegasus Park, the master plan of which also includes an 18-story tower with 538,000 square feet of office space and a brewery/restaurant. Full delivery is slated for the second quarter of 2024. Jim Curtin and Andrew Gray of JLL, along with Jason Piering of Hamilton Realty Finance, arranged financing for the redevelopment that included a five-year construction loan from Interbank and C-Pace financing through Nuveen Green Capital.
DEVENS, MASS. — Colliers has negotiated a 101,000-square-foot life sciences lease at Pathway Devens, a 45-acre campus located about 50 miles northwest of Boston. John Carroll III and Kevin Brawley of Colliers represented the tenant, Ascend Elements, which produces parts for lithium ion batteries, in the lease negotiations. Brian McKenzie and Alex Plaistead of CBRE represented the landlord, Boston-based King Street Properties. The deal brings the first phase of the development to full occupancy.
BOSTON — A partnership between Lendlease and Ivanhoé Cambridge has topped out a $545 million life sciences project within Boston Landing, a mixed-use destination in the Allston/Brighton area. The nine-story, 350,000-square-foot building at 60 Guest St. is known as FORUM and will feature traditional office space in addition to lab and research/development space. SGA Architects designed the project, and Consigli Construction Co. is serving as the general contractor. Construction began last fall and is slated for completion sometime next year. JLL is the leasing agent. The partnership first acquired the land for the project from NB Development Group, the master developer of Boston Landing, in March 2021.
Menlo Equities, Beacon Capital Break Ground on Portal 405 Life Sciences Building in San Carlos, California
by Amy Works
SAN CARLOS, CALIF. — Menlo Equities and Beacon Capital Partners have broken ground on Portal 405, a life sciences building located at 405 Industrial Road in San Carlos. The 240,000-square-foot Portal 405 is slated for completion in late 2024. The six-story building will feature four lab and office floors above two levels of above-grade parking and two levels of subterranean parking. The building lobby will offer bike storage, restrooms with showers and lockers, and tenant amenity areas that can accommodate a fitness center and café. The building-top terrace on the sixth floor will provide an outdoor work and event space for tenants. The property is designed to accommodate multiple tenants or a single user. Mike Moran of CBRE and Clarke Funkhouser of Cushman & Wakefield are the marketing and leasing agents for the project.
BIRMINGHAM, ALA. — Stirling has arranged the sale of a 30,000-square-foot life sciences facility located at 100 Lucerne Lane in Birmingham. The property, which features office, wet lab and warehouse space, is situated on 5.7 acres within Oxmoor South Industrial Park. The buyer, Birmingham Water Works, is planning to make capital improvements at the property, which will be used for the organization’s new EnviroLab facility. The company oversees the water supply for more than 770,000 people in Birmingham and the surrounding counties. Juhmad Hollis and Melissa Warren of Stirling represented the buyer in the transaction. The seller and sales price were not disclosed.
Joint Venture Plans $439M Inpatient Rehabilitation Hospital, Research Facility in Detroit
by Katie Sloan
DETROIT — The Gilbert Family Foundation, Henry Ford Health and Shirley Ryan AbilityLab have announced plans for the development of a $439 million inpatient rehabilitation hospital and research facility in Detroit. The project will be an expansion of the existing Henry Ford Health and Michigan State University Health Sciences campus. Plans for the project include a 125,000-square-foot inpatient tower, which will be constructed at the corner of West Grand Boulevard and John C. Lodge Freeway. The facility will offer 72 beds, with three floors of the building occupied by rehabilitation care provider Shirley Ryan AbilityLab. The rehabilitation floors will provide inpatient care for those recovering from strokes, traumatic brain injuries, spinal cord injuries and other conditions. The Gilbert Family Foundation has provided $10 million fund to increase access to rehabilitation care for low-income residents in Detroit. The building is scheduled for completion in 2029. The development will also include a new research building on Henry Ford Health’s East Campus. The project will house the Nick Gilbert Neurofibromatosis Research Institute, a facility dedicated to finding a cure for neurofibromatosis. The property is scheduled for completion in 2027. The building will be the first brick-and-mortar development to be solely dedicated to neurofibromatosis …
Texas Woman’s University to Break Ground on $107M Health Sciences Center in Denton, Texas
by Jeff Shaw
DENTON, TEXAS — Texas Woman’s University (TWU) will break ground on a $107 million health sciences center in Denton on Friday, Sept. 15. The 136,000-square-foot facility will serve students in the allied healthcare fields such as nursing, physical therapy and occupational therapy. TWU states the goal of the center is to graduate 30 percent more nursing and healthcare professionals, with a special emphasis on preparing students to serve in rural settings. The new health sciences center will be constructed on seven acres adjacent to Parliament Village, a TWU residential complex housing 872 students. Plans for the facility include laboratory space, classrooms, collaborative workspaces, outdoor clinic sites and a teaching kitchen, as well as community healthcare clinics and training areas for students. Alongside the groundbreaking, TWU will launch the public phase of the $125 million Dream Big Campaign. This is TWU’S first comprehensive fundraising campaign. The Dream Big Campaign is intended to commemorate university’s 125th anniversary in 2026. TWU is a public university that was established in 1901. The university’s main campus is in Denton, with additional health science centers in Dallas and Houston. While TWU admitted its first male students in 1972 and has been fully co-educational since 1992, the school is …