WALTHAM, MASS. — Locally based construction management firm J. Calnan & Associates has delivered a 37,000-square-foot life sciences project in the western Boston suburb of Waltham. The space, which is a build-to-suit for Biocytogen Pharmaceuticals, is located at 300 Third Avenue, a 143,533-square-foot building that is owned by Dallas-based Lincoln Property Co. The facility features an open-floor design, climate-controlled vivarium and advanced cell culture and procedure suites.
LAFAYETTE, COLO. — Real Capital Solutions has acquired Medtronic Lafayette Campus from Ryan Cos. for $188 million. The acquisition consists of two five-story life sciences office buildings located at 200 and 250 Medtronic Drive in Lafayette, approximately 20 miles north of Denver. Completed earlier this year, the 42-acre, 404,159-square-foot property is Medtronic’s second largest U.S. campus, which will eventually house about 1,200 employees. As sole tenant of the property, the medical device company has a guaranteed, 20-year, triple-net lease.
WILMINGTON, DEL. — Pennsylvania-based developer MRA Group has received $63 million for the redevelopment of Chestnut Run Innovation & Science Park, a 164-acre, 14-building development in Wilmington. MRA Group will use the funds to continue renovations of the campus’ 14 buildings to support lab, R&D and advanced manufacturing uses. Additional plans for the campus include a hotel, fitness center, conference facilities, an outdoor amphitheater and accommodations for food services. Fulton Bank, in conjunction with Nuveen Green Capital through C-PACE, financed $50 million of the funds, while WSFS Bank provided the remaining $13 million.
NEWTON, MASS. — Spindrift, a provider of sparkling water, has renewed and expanded its headquarters space at Chapel Bridge Park, an office and life sciences development located in the western suburb of Boston of Newton. The tenant now occupies more than 20,000 square feet at the eight-building, 250,000-square-foot campus, which is owned by The Bulfinch Cos. Jared Pimm of CBRE represented Spindrift in the lease negotiations.
ATLANTA — Trammell Crow Co. and partner Georgia Advanced Technology Ventures (GATV) have topped out Science Square Labs, a 13-story research-and-development (R&D) facility located adjacent to the Georgia Tech campus in Atlanta. GATV is a cooperative organization of Georgia Tech. The 368,258-square-foot building is part of the first phase of Science Square, an 18-acre mixed-use development that will offer laboratory, R&D offices, dining options and residences. Brasfield & Gorrie is the general contractor on Phase I of Science Square. Also part of the first phase is a 280-unit residential tower by High Street Residential, an affiliate of Trammell Crow Co. The developers aim to deliver Phase I in the first quarter of 2024. Designed by Perkins & Will, Science Square Labs will feature wet and dry laboratories, collaborative spaces, food-and-beverage outlets, a fitness center, interactive conference rooms, indoor/outdoor lounge, catering kitchen and six “graduator” speculative lab/office suites that will accommodate growing life sciences firms. Additionally, Cherry Street Energy is installing a 38,000-square-foot solar panel array atop the parking garage. The design-build team is aiming for Science Square to achieve LEED Gold and WELL certifications. In addition to the topping out, the ownership group has signed the first tenant at Science …
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.
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.
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.
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.
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.