PHILADELPHIA — NexPoint, an investment firm based in metro Dallas, has acquired two life sciences buildings totaling 250,000 square feet in Philadelphia. The first building comprises research and development, manufacturing and warehouse space, and the second building features distribution packaging facilities with the potential for future expansion. NexPoint acquired the buildings, which sit on a combined 18 acres, in a sale-leaseback with Frontida Biopharm. The addresses were not disclosed.
TOWACO, N.J. — Pharmaceutical company Generichem Corp. has signed a 27,500-square-foot life sciences lease in the Northern New Jersey community of Towaco. According to LoopNet Inc., the building at 425 Main Road was constructed on 2.7 acres in 1984. Marc Trevisan and Tom Mallaney of CBRE represented the tenant in the negotiations for the full-building lease. Cushman & Wakefield represented the landlord, Schuster Bauman.
NEW BRUNSWICK, N.J. — New York City-based SJP Properties has unveiled plans for the second and third phases of the HELIX Health + Life Science Exchange, a $731 million life sciences development in New Brunswick, about 45 miles south of Manhattan. Developed in partnership with New Brunswick Development Corp., Phase II of the project will be known as H-2 and will feature 600,000 square feet of build-to-suit lab and office space that can accommodate a range of users. The final phase of HELIX, H-3, will include a 42-story mixed-use building that will have traditional office space and 220 units of housing in addition to life sciences space. The first phase of HELIX, known as H-1, is currently under construction adjacent to Rutgers University’s campus in the downtown area. Totaling 574,000 square feet, H-1 will house the New Jersey Innovation HUB, the new home of Rutgers Robert Wood Johnson Medical School and a Rutgers translational research facility equipped with a variety of labs. The initial phase of the project will also have a 10,000-square-foot market hall with food options and a 3,000-square-foot restaurant that opens onto a 70-foot-wide plaza. The site of the four-acre innovation district is across the street from …
SAN DIMAS, CALIF. — San Dimas CA LLC has purchased a 79,036-square-foot R&D/flex facility in San Dimas. The facility is located at 960 Overland Court. The two-story property sits on 4.2 acres and is fully occupied by Collins Aerospace, a Charlotte, N.C.-based aerospace and defense product supplier and subsidiary of Raytheon Technologies. The facility is a mission-critical location for Collins and houses the company’s research and development operations. Originally built in 1987, the property recently underwent significant landlord renovations and tenant improvements. It features a mix of open-plan offices and private offices, conference rooms, multiple kitchenettes, and 7,600 square feet of warehouse space with two dock-high positions and two truck wells. Mark Shaffer, Anthony DeLorenzo, Gerard Poutier, Bryan Johnson and Nick Williams with CBRE’s Investment Properties—California/Arizona/Nevada, along with Todd Tydlaska, Mike Longo, Melissa May Moock and Sean Sullivan with CBRE’s Institutional Capital Partners, represented the undisclosed seller in the transaction.
MEDFORD, MASS. — Boston-based developer RISE, in partnership with local owner the Matarazzo Family, will develop a $200 million life sciences project in Medford, a northern suburb of Boston. The eight-story building at 4054 Mystic Valley Parkway will house 311,535 square feet of lab, research and development and office space, as well as ground-floor retail space. In addition, the facility will have a below-ground parking garage, dedicated indoor bike storage and a landscaped public plaza. Dave Douvadjian Sr. and Harrison Zucco of Newmark arranged an undisclosed amount of acquisition financing for the project. CUBE3 is the project architect, and Jacobs is the civil engineer. A construction timeline was not released.
Life sciences-anchored innovation districts are becoming increasingly popular as hubs for research and development in the biotech and pharmaceutical industries. These districts, also known as “innovation districts,” are characterized by clusters of companies, research institutions, supporting organizations, living areas, amenities and offices all located in close proximity. This grouping requires detailed planning and design strategies to maximize their potential for scientific exploration and success on an enormous, ambitious scale. Master planning and engaging site civil engineering partners early on in the process can save time and money once a project reaches the design stage. This article is the first installment in a two-part series on life sciences innovation districts to discuss, first, the planning, and, then, the design elements required by these districts. Read about design in Part 2, here. Fostering innovation, collaboration and productivity is at the heart of planning for life sciences innovation districts. The successes of famous examples such as North Carolina’s Research Triangle Park, Kendall Square in Cambridge, Mass. and Mission Bay in San Francisco indicate how beneficial a melting-pot mix of residential, commercial and research spaces can be when they concentrate talent from research institutions, life sciences innovators, universities and the surrounding community. “Many life …
MAPLE GROVE, MINN. — Ryan Cos. US Inc. and C. S. McCrossan Inc. have unveiled plans to build the Minnesota Science and Technology Center in Maple Grove, a suburb of Minneapolis. The 100-acre campus will offer build-to-suit opportunities for scientists, innovators and researchers as well as some light industrial and manufacturing components. For more than 60 years, the project site served as a source of high-quality aggregate, which McCorssan used in the construction of many large road and infrastructure projects in the Twin Cities. In addition to its role as co-developer and land partner, Ryan will also serve as the builder and site planner. A timeline for construction was not released.
PHILADELPHIA — Breakthrough Properties, which is a joint venture between New York City-based Tishman Speyer and biotechnology investment firm Bellco Capital, has received a $130 million construction loan for a life sciences project in Philadelphia. The site at 2300 Market St. in the Center City District is adjacent to both the University of Pennsylvania and Drexel University and will house an eight-story, 223,000-square-foot building. Amenities will include a café and lounge, fitness center and elevated terraces. D2 Capital Advisors arranged the loan through Corebridge Financial on behalf of Breakthrough Properties. Construction of the building shell is expected to be complete by next summer, at which point tenant build-outs will commence.
IRVING, TEXAS — Antech Diagnostics, a provider of veterinary diagnostic and lab testing services, has signed a 22,578-square-foot lease renewal and expansion in Irving. The company has committed to Royal Jetstar Tech Center a 92,051-square-foot office and lab building, for an additional 10 years and is taking an additional 9,578 square feet. Jason Finch and Michael Spain of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as Pre DFW Airport LLC, in the lease negotiations. Ryan Buchanan of CBRE represented Antech Diagnostics.
PALO ALTO, CALIF. — A 52,000-square-foot building that will be added to Stanford Research Park in Palo Alto has received approval from the city. The building is one of the first of its size in Silicon Valley to be designed and approved for sustainable mass-timber construction. The building will be almost entirely made of wooden and glass construction. Form4 Architecture designed the project.