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Life Sciences

Life SciencesLoansMassachusettsNortheastTop Stories

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

by Kristin Harlow

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 …

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DevelopmentLife SciencesMassachusettsNortheast

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

by Taylor Williams

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.

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DevelopmentLife SciencesNew YorkNortheastOffice

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

by Taylor Williams

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.

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ColoradoLeasing ActivityLife SciencesWestern

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

by Jeff Shaw

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.

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CaliforniaLife SciencesLoansWestern

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

by Jeff Shaw

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.

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CaliforniaLeasing ActivityLife SciencesWestern

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

by Jeff Shaw

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.

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CaliforniaLeasing ActivityLife SciencesWestern

Rubi Laboratories Signs 16,884 SF Lease at Radius @ Harbor Bay Campus in Alameda, California

by Jeff Shaw

ALAMEDA, CALIF. — Rubi Laboratories, a California-based biotechnology company, has signed a 16,884-square-foot lease at the Radius @ Harbor Bay campus in Alameda.  Radius is a nearly 700,000-square-foot life sciences and innovation campus located at 1501 Harbor Bay Parkway. The property features a new backup power generator, HVAC service with 100 percent outdoor air, 13-foot clear heights and an outdoor screened equipment pad.  Newmark’s Conor Ranahan represented the landlord and ownership group, Paceline Investors and True North Management Group, while the firm’s Daniel Pivnick and Ari Rokeach represented Rubi Laboratories. Newmark previously represented the landlord and ownership group in the 43,645-square-foot, full-building lease to Vivani in December 2022 at the same campus.

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Leasing ActivityLife SciencesNew JerseyNortheast

Accurant Biotech Signs 26,556 SF Life Sciences Lease in Princeton

by Taylor Williams

PRINCETON, N.J. — New Jersey-based Accurant Biotech has signed a 26,556-square-foot life sciences lease at 500 College Road in Princeton. The four-story, 160,000-square-foot building is situated within Princeton Forrestal Center, a 2,200-acre master-planned development, and offers amenities such as a fitness center, conference center, game room and a full-service café. Vinny Di Meglio and Erin Moran of JLL represented the landlord, a joint venture between Bergman Real Estate Group and Hornig Capital Partners, in the lease negotiations. The tenant plans to take occupancy of the space in August.

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AcquisitionsCaliforniaIndustrialLife SciencesWestern

NEXGEN Purchases Life Sciences Facility in Newbury Park, California for $6.2M

by Jeff Shaw

NEWBURY PARK, CALIF. — NEXGEN has acquired a 23,919-square-foot industrial life sciences/laboratory facility in Newbury Park for $6.2 million.  The facility is located at 3615 Old Conejo Road within the USA Business Park in the Conejo Valley industrial market.  Century 21 represented NEXGEN in the transaction. Matt Ehrlich and Marcos Villagomez of NAI Capital Commercial represented the seller, Dao Bui Holdings. Ehrlich and Villagomez spent more than a year on the project, facilitating the lease termination and departure of the former tenant and assisting as de facto property managers.

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Leasing ActivityLife SciencesMassachusettsNortheastOffice

Newmark Arranges 7,397 SF Office, Life Sciences Lease in Burlington, Massachusetts

by Taylor Williams

BURLINGTON, MASS. — Newmark has arranged a 7,397-square-foot office and life sciences lease in Burlington, a northwestern suburb of Boston. The tenant, medical imaging services provider UII America Inc., has committed to leasing space at Blue Sky Center, a 158-acre campus. Matt Malatesta, Tyler McGrail, Michael Frisoli and Margaret Fee of Newmark represented the owner, Nordblom Co., in the lease negotiations. Malatesta and Dave Townsend, also with Newmark, represented the tenant. Amenities at Blue Sky Center include a fitness center, café, basketball court, gaming area and a golf simulator.

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