Thursday, February 27, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Life Sciences

2300-Market-St.-Philadelphia
DevelopmentLife SciencesLoansNortheastPennsylvania

Breakthrough Properties Receives $130M Construction Loan for Philadelphia Life Sciences Project

by Taylor Williams

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.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityLife SciencesOfficeTexas

Antech Diagnostics Signs 22,578 SF Lease Renewal, Expansion in Irving

by Taylor Williams

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.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaDevelopmentLife SciencesWestern

New Stanford Research Park Office Building in Palo Alto Receives Approval

by Jeff Shaw

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.

Continue Reading
FacebookTwitterLinkedinEmail
The-Ion-Houston
Leasing ActivityLife SciencesOfficeTexas

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

by Taylor Williams

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.

Continue Reading
FacebookTwitterLinkedinEmail
15-Necco-Street-Boston
AcquisitionsLife SciencesMassachusettsNortheast

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

by Taylor Williams

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.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityLife SciencesNew YorkNortheast

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

by Taylor Williams

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.

Continue Reading
FacebookTwitterLinkedinEmail
ArizonaDevelopmentLife SciencesWestern

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

by Jeff Shaw

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.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCompany NewsHealthcareLife SciencesMassachusettsNortheastOfficeSeniors HousingTop Stories

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

by John Nelson

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 …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLife SciencesNew JerseyNortheast

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

by Taylor Williams

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.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityLife SciencesNortheastPennsylvania

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

by Taylor Williams

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.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts