Life Sciences

100-Hood-Park-Drive-Charlestown-Massachusetts

Developer Tops Out 186,000 SF Life Sciences Redevelopment in Charlestown, Massachusetts

by Taylor Williams June 30, 2023

CHARLESTOWN, MASS. — Developer Hood Park LLC has topped out a 186,000-square-foot life sciences facility in the northern Boston suburb of Charlestown. The five-story building at 100 Hood Park Drive will complement an existing structure that features 61,139 square feet of lab space, 40,000 square feet of retail space and a 900-space parking garage. Both buildings will serve as anchors for Hood Park, a 20-acre project that is a redevelopment of the former facility of dairy producer H.P. Hood & Sons. At full build-out, Hood Park will comprise 1.8 million square feet of office and life sciences space, 100,000 square feet of retail and restaurant space and 335 residential units.

June 30, 2023

Development Life Sciences Northeast Pennsylvania

TN Ward Completes Renovation of 180,000 SF Life Sciences Facility in Philadelphia

by Taylor Williams June 30, 2023

PHILADELPHIA — General contractor TN Ward has completed the renovation of Race Street Labs, a 180,000-square-foot life sciences facility in Philadelphia. In addition to base building renovations, two floors of lab facilities were constructed on a speculative basis. The facility now features lab-ready building infrastructure, customizable lab and office spaces and onsite lab management support services. Iron Stone Real Estate Partners owns the property. Cushman & Wakefield is marketing the renovated space for lease.

June 30, 2023

Acquisitions Development Life Sciences Massachusetts Northeast Top Stories

Alexandria Sells 268,000 SF Portion of Life Sciences Development to Boston Children’s Hospital

by Kristin Harlow June 28, 2023

BOSTON — Alexandria Real Estate Equities Inc. (NYSE: ARE) has sold 268,000 rentable square feet within 421 Park Drive, a 660,034-square-foot life sciences development to be built in Boston. An affiliate of Boston Children’s Hospital was the buyer. Upon completion, 421 Park Drive will be part of the larger Alexandria Center for Life Science-Fenway mega campus, which will total more than 2 million square feet at full build-out. The campus, developed in partnership with Samuels & Associates, boasts numerous amenities, proximity to both Cambridge and the Longwood Medical Area, and convenient transportation access. Alexandria will develop and operate 421 Park Drive, which will feature open space, direct connections to the Massachusetts Bay Transportation Authority (MBTA) Fenway station, bicycle and pedestrian paths, and retail space on the ground floor. The price of the portion sold to Boston Children’s Hospital is approximately $155 million, along with development fees to be earned by Alexandria over the next three years. Boston Children’s Hospital will continue to fund its pro rata share of the costs to develop 421 Park Drive. Vertical construction is scheduled to begin later this year and to be substantially completed in 2026. The transaction with Boston Children’s Hospital results in 48.5 …

June 28, 2023

California Leasing Activity Life Sciences Western

Novoron Bioscience Leases 7,432 SF Space at GENESIS-San Diego

by Jeff Shaw June 21, 2023

SAN DIEGO — Phase 3 Real Estate Partners has signed a lease agreement with life sciences company Novoron Bioscience at GENESIS-San Diego. Located in downtown San Diego, GENESIS-San Diego is an eight-story, 200,000-square-foot, Class A life sciences building. Novoron Bioscience’s lease for a 7,432-square-foot space marks GENESIS-San Diego’s third lease agreement signed in the past year within the building’s wet lab facility. Novoron Bioscience will utilize the space to further its research on lipoprotein-receptor drug development, aiming to address challenging neurological conditions such as multiple sclerosis, spinal cord injuries and Alzheimer’s disease.

June 21, 2023

Life Sciences Loans Massachusetts Northeast Top Stories

Boylston Properties, J.P. Morgan Receive $150M Refinancing for 100 Forge Life Sciences Building Near Boston

by Kristin Harlow June 21, 2023

WATERTOWN, MASS. — Boylston Properties and J.P. Morgan Global Alternatives have received a $150 million loan from Northwestern Mutual for the refinancing of 100 Forge, a life sciences building located in Arsenal Yards in Watertown, approximately nine miles west of Boston. The nine-story, 165,600-square-foot building opened in January and is now fully occupied by five life sciences companies: Abata Therapeutics, Remix Therapeutics, Mariana Oncology, Vigil Neuroscience and Affini-T Therapeutics. Ayers Saint Gross designed the building. The owners will use the funds to pay off a construction loan sourced from Bank OZK in 2021. JLL Capital Markets arranged the refinancing, with Northwestern Mutual as the lender. The life sciences campus at Arsenal Yards now includes 10 life sciences businesses across three buildings: 100 Forge, 500 Forge and 200 Arsenal Yards Blvd. In addition to owning the properties, Boylston is also the property manager. Arsenal Yards and its proximity to Cambridge and Boston creates a unique urban-suburban experience for life sciences users, according to Boylston. There are dozens of restaurants, bars, shops and fitness studios nearby, as well as a hotel, grocery store, movie theater, childcare services, apartments and open outdoor spaces. “Despite the significant headwinds experienced this year, greater Boston is …

June 21, 2023

Development Life Sciences Massachusetts Northeast

King Street Completes $170M Life Sciences Project in Cambridge, Massachusetts

by Taylor Williams June 20, 2023

CAMBRIDGE, MASS. — Locally based developer King Street Properties has completed a $170 million life sciences project located at 101 Cambridgepark Drive in Cambridge. King Street partnered with California-based Healthpeak Properties on the 160,000-square-foot project, which features both traditional office and laboratory space within a five-story building. The property also includes 3,000 square feet of street-level retail space with outdoor seating. Dimella Shaffer served as the architect of the project, which opened fully preleased. Consigli Construction Co. served as the general contractor.

June 20, 2023

Development Life Sciences New York Northeast Office

New York Blood Center Enterprises to Open 187,000 SF Headquarters Campus in Rye, New York

by Taylor Williams June 20, 2023

RYE, N.Y. — New York Blood Center Enterprises will open a 187,000-square-foot headquarters campus in Rye, located in Westchester County. The facility will include space for life sciences research, blood collections, processing and cell therapy manufacturing and traditional office functions. G3 Architects is designing the project, and Consigli Construction Co. is serving as the general contractor. Construction is underway, and completion is slated for the second half of 2024.

June 20, 2023

Colorado Leasing Activity Life Sciences Western

CBRE Negotiates Full-Building Lease for Life Sciences Company in Boulder, Colorado

by Jeff Shaw June 19, 2023

BOULDER, COLO. — CordenPharma has secured a lease for a recently renovated life sciences property in Boulder. The property is located at 2300 55th St. Acquired by TriTower Financial Group in 2021, the building has undergone extensive renovations to cater to the advanced technology needs of life sciences companies. The pharmaceutical contract development and manufacturing organization will occupy 61,117 square feet across both floors of the facility. The company plans to utilize the space for client meetings, engineering, and research and development operations, further expanding its operations in the area. CordenPharma has existing nearby facilities on 55th Street and Sterling Drive. Blake Harris with CBRE represented TriTower in the lease transaction.

June 19, 2023

California Life Sciences Loans Western

PSRS Arranges $13.2M in Financing for Life Sciences Asset in Carlsbad, California

by Jeff Shaw June 13, 2023

CARLSBAD, CALIF. — PSRS has arranged a $13.2 million refinancing for a 47,000-square-foot life sciences property in Carlsbad. A growing start-up occupies the property. The undisclosed permanent lender was able to fund the loan prior to the tenant taking occupancy. The loan’s interest rate is fixed for seven years and amortized over a 30-year schedule. Pasha Johnson, Trevan Swierczewski and Daniel de Leon of PSRS arranged the refinancing.

June 13, 2023

California Leasing Activity Life Sciences Western

IDEAYA Biosciences Leases 44,000 SF Office in South San Francisco

by Jeff Shaw June 12, 2023

SOUTH SAN FRANCISCO — IDEAYA Biosciences has leased 44,000 square feet of space at 5000 Shoreline Court in South San Francisco. The 140,000-square-foot, Class A building is situated on the bay in South San Francisco’s Sierra Point life sciences cluster. IDEAYA plans to move into the space in mid-2024. Chris Jacobs and Matt Jacobs of CBRE represented the landlord, DivcoWest, while Grant Dettmer and Scott Miller of JLL represented IDEAYA.

June 12, 2023

Newer Posts

Older Posts