Life Sciences

Rice Management Co. Signs New Tenants to Leases at Houston’s Ion District

by Taylor Williams May 3, 2023

HOUSTON — Rice Management Co., the entity that acts as steward of Rice University’s endowment, has signed new tenants to leases totaling roughly 35,000 square feet at The Ion District, a 12-block office, life sciences and innovation hub in Houston. Among the new tenants are carbon capture company Carbon Clean, Norwegian software developer Cognite and medical equipment manufacturer Motif Neurotech. These tenants join Houston-based private equity firm Ara Partners and coworking concept Common Desk. Savills represented ownership in all lease negotiations. Construction of new lab space is also now underway at The Ion District.

May 3, 2023

Acquisitions Life Sciences Massachusetts Northeast

Alexandria Real Estate Equities Sells Stake in $700M Life Sciences Facility in Boston

by Taylor Williams April 13, 2023

BOSTON — California-based REIT Alexandria Real Estate Equities (NYSE: ARE) has sold a stake in a $700 million life sciences facility located at 15 Necco St. in Boston’s Seaport District. The percentage of the interest, which was sold to a U.S. affiliate of Japanese developer Mori Trust Co., was not disclosed. Alexandria is developing the 346,000-square-foot facility in partnership with National Development as a build-to-suit for pharmaceutical giant Eli Lilly & Co. The facility will house retail and restaurant space on the ground floor and a terrace with green spaces and flexible workstations on the rooftop. Construction began in early 2022, and the development team expects to complete the project before the end of the year. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell, Alex Foshay and William Sleeper of Newmark structured the recapitalization.

April 13, 2023

Leasing Activity Life Sciences New York Northeast

Trinity Solar Signs 17,731 SF Life Sciences Lease in Plainview, New York

by Taylor Williams April 13, 2023

PLAINVIEW, N.Y. — Trinity Solar Inc., a provider of panels for residential homes, has signed a 17,731-square-foot life sciences lease in the Long Island community of Plainview. The building at 137 Commercial St. spans 40,660 square feet and houses research and development facilities. Robert Kuppersmith, Connor Sullivan, Scott Schubert and Dan Johnsen of Cushman & Wakefield represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.

April 13, 2023

Arizona Development Life Sciences Western

University of Arizona Completes Construction of $85M Applied Research Building in Tucson

by Jeff Shaw April 11, 2023

TUCSON, ARIZ. — The University of Arizona has completed construction of its $85 million Applied Research Building (ARB) in Tucson. The 89,000-square-foot ARB is the first building in the country to house all research spaces related to the fabrication and testing of satellites in one integrated facility. The ARB is the new home of applied physical sciences and engineering, connecting faculty across four colleges and eight departments. McCarthy Building Cos. constructed the property, which SmithGroup designed.

April 11, 2023

Acquisitions Company News Healthcare Life Sciences Massachusetts Northeast Office Seniors Housing Top Stories

Office Properties Income Trust Agrees to Acquire Diversified Healthcare Trust in All-Share Transaction

by John Nelson April 11, 2023

NEWTON, MASS. — Office Properties Income Trust (NASDAQ: OPI) has entered into a definitive merger agreement whereby the office REIT will acquire all the outstanding common shares of Diversified Healthcare Trust (NASDAQ: DHC), a REIT that owns properties in the medical office, life sciences and seniors housing sectors. The combined company will have approximately $12.4 billion of total gross assets under management, representing 539 properties across 40 states and Washington, D.C. The portfolio comprises about 264 seniors housing communities, 10 triple-net-leased wellness centers and 265 medical office, traditional office and life sciences buildings. About 42 percent of the portfolio is located in the Sun Belt. The RMR Group (NASDAQ: RMR), an alternative asset management firm based in Newton, manages both REITs and acquires properties on behalf of the entities. RMR also makes acquisitions on behalf of Service Properties Trust and Industrial Logistics Properties Trust. RMR Group will continue to manage the new company, which will be rebranded as Diversified Properties Trust and trade publicly on the Nasdaq Stock Market exchange. OPI’s executive team will lead the new company and will keep the firm’s corporate headquarters in Newton. The boards of trustees for both REITs unanimously approved the merger, which is …

April 11, 2023

Development Life Sciences New Jersey Northeast

Joint Venture to Develop 38,000 SF Life Sciences Project in Princeton

by Taylor Williams April 5, 2023

PRINCETON, N.J. — A joint venture between Mountain Development Corp. and Gottesman Real Estate Partners will develop a 38,000-square-foot life sciences project within the Roszel Square campus in Princeton. Building features will include lab-level HVAC systems, a 16-foot clear height, freight elevator, loading dock and a backup generator. The joint venture will market the two-story facility as a build-to-suit. Princeton Property Partners has been appointed as leasing agent.

April 5, 2023

Leasing Activity Life Sciences Northeast Pennsylvania

bioMérieux Signs 32,000 SF Life Sciences Lease at Philadelphia Navy Yard

by Taylor Williams March 29, 2023

PHILADELPHIA — bioMérieux, a French company known for innovations in the field of in vitro diagnostics, has signed a 32,000-square-foot life sciences lease at the Philadelphia Navy Yard. The tenant will occupy most of the second floor of the 137,000-square-foot building at 1201 Normandy Place, which is under construction and nearing a June completion. CBRE brokered the lease. A joint venture between Ensemble Investments and Mosaic Development Partners owns the building.

March 29, 2023

Development Life Sciences Massachusetts Northeast

BioMed Realty Tops Out 497,000 SF Life Sciences, Office Project in Somerville, Massachusetts

by Taylor Williams March 28, 2023

SOMERVILLE, MASS. — BioMed Realty, a San Diego-based subsidiary of Blackstone, has topped out Phase I of Assembly Innovation Park, a project in the Boston suburb of Somerville that will add 497,000 square feet of life sciences and office space to the local supply. The development will ultimately consist of three buildings and include retail space and open green space. Perkins & Will designed Assembly Innovation Park, and John Moriarty & Associates is serving as the general contractor. Vertical construction on the $514 million first phase began in August of last year, and full completion is scheduled for next year.

March 28, 2023

Illinois Leasing Activity Life Sciences Midwest

Chan Zuckerberg Biohub Chicago Signs 25,698 SF Lease at Fulton Labs

by Kristin Harlow March 27, 2023

CHICAGO — Chan Zuckerberg Biohub Chicago (CZ Biohub Chicago), a new biomedical research institute that brings together scientists from Northwestern University, the University of Chicago and the University of Illinois Urbana-Champaign, has signed a 25,698-square-foot lease at Fulton Labs. Trammell Crow Co. (TCC) owns the two-building, 725,000-square-foot campus, which is situated in Chicago’s Fulton Market district. CZ Biohub Chicago researchers will engineer technologies to make precise, molecular-level measurements of biological processes within human tissues, with an ultimate goal of understanding and treating the inflammatory states that underlie many diseases. Dan Lyne of CBRE represented TCC in the lease. Other tenants at Fulton Labs include Dimension Inx, Celadyne Technologies, Portal Innovations, Charles River Laboratories, Xeris Pharmaceuticals, Vanqua Bio and Talis Biomedical. Facebook’s Mark Zuckerberg and his wife, Priscilla Chan, are the co-founders and co-CEOs of the Chan Zuckerberg Initiative.

March 27, 2023

Acquisitions Life Sciences North Carolina Southeast

Oxford Acquires 95,000 SF Life Sciences Facility in Durham

by John Nelson March 24, 2023

DURHAM, N.C. — Oxford Properties Group has finalized its acquisition of 78 TW Alexander in Durham, a biomanufacturing facility in Durham comprising 95,000 square feet with expansion capabilities up to 190,500 square feet. Oxford first entered into a forward-purchase agreement with the developer, Davidson Craven, in the fourth quarter of 2021. CBRE|Raleigh arranged the transaction. Construction of the facility, which features 36-foot clear heights, seven loading docks and robust power and water systems, was fully completed in February of this year.

March 24, 2023

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