Life Sciences

Life Sciences Sector in St. Louis: Building on a Legacy

by Kristin Harlow January 26, 2023

By Scott Dunwoody, Cushman & Wakefield It’s not too much of a stretch to say that St. Louis’ life sciences sector dates back to Lewis & Clark’s Corps of Discovery and all the scientific findings revealed upon their return to the city in 1806. More than two centuries later, St. Louis remains at the forefront of life sciences. The region is a center of plant science research and a cornerstone of global agriculture technology, with institutions such as Washington University in St. Louis (WashU) and St. Louis University playing critical roles in the biotech and medical fields. These factors translate into significant economic development benefits for the region and a positive impact on the area’s commercial real estate market. St. Louis is home to the largest concentration of plant scientist PhDs in the world. All that talent supports and drives more than 750 plant and medical science organizations across the region, including large employers such as Bayer (formerly Monsanto), Bunge, Benson Hill, IFF, Novus and Pfizer, and has led to significant investments throughout the region. What’s more, St. Louis ranks No. 14 nationally in National Institutes of Health funding, having secured more than $3.3 billion in the past five years. …

January 26, 2023

Development Industrial Life Sciences North Carolina Southeast

Eli Lilly to Invest $450M at Research Triangle Park Campus in Durham

by John Nelson January 25, 2023

DURHAM, N.C. — Eli Lilly and Co., a pharmaceutical giant based in Indianapolis, plans to invest $450 million to expand its campus within Research Triangle Park (RTP) in Durham. The expansion includes additional parenteral filling, device assembly and packaging capacity to support an increased demand for the company’s incretin products that treat diabetes. The move is expected to create at least 100 new jobs, primarily comprising manufacturing personnel who will produce incretin treatments and medical devices. Eli Lilly expects the new facility to come on line in 2027. Since 2020, the company has committed roughly $4 billion to new manufacturing facilities in North Carolina, including $1.7 billion for the development and expansion of its RTP base.

January 25, 2023

Leasing Activity Life Sciences Massachusetts Northeast Office

Newmark Negotiates 30,665 SF Lease at Office, Life Sciences Campus in Billerica, Massachusetts

by Taylor Williams January 17, 2023

BILLERICA, MASS. — Newmark has negotiated a 30,665-square-foot lease at Axis Park North, a six-building, 450,000-square-foot office and life sciences campus in Billerica, a northern suburb of Boston. Rory Walsh, Richard Ruggiero, Torin Taylor and Matthew Adams of Newmark represented the landlord, a partnership between Boston-based Camber Development and Wheelock Street Capital, in the lease negotiations. Kevin Kennedy and Tom Hovey of CBRE represented the tenant, ASMPT AEi, a provider of automated cameras and other digital technologies.

January 17, 2023

Leasing Activity Life Sciences Massachusetts Northeast

Alcresta Therapeutics Signs 14,441 SF Life Sciences Lease in Waltham, Massachusetts

by Taylor Williams January 16, 2023

WALTHAM, MASS. — Alcresta Therapeutics, which develops enzyme-based treatments for rare diseases, has signed a 14,441-square-foot life sciences lease at 130 Turner Street, a 270,000-square-foot facility located in the western Boston suburb of Waltham. Matt Malatesta, Mike Frisoli, Tyler McGrail, Margaret Fee and Eric Jeremiah of Newmark represented the landlord, Jumbo Capital, in the lease negotiations. Ned Halloran and Connor Hayes of Hunneman represented the tenant

January 16, 2023

Development Life Sciences North Carolina Southeast

Apollo, GeneSuites Underway on 446,000 SF Biomanufacturing Campus in Metro Raleigh

by John Nelson January 13, 2023

HOLLY SPRINGS, N.C. — Affiliates of Apollo and GeneSuites are underway on the construction of Catalyst BioCampus, a 446,000-square-foot biomanufacturing development in Holly Springs, roughly 20 miles southwest of Raleigh. The development, which is scheduled for completion early this year, will be pre-equipped with mechanical, electrical and building infrastructure designed in accordance with Current Good Manufacturing Practice (cGMP) specific to biomanufacturing facilities. This design, branded High Performance Shell by GeneSuites, will support the acceleration of speed-to-market for biopharmaceutical companies by approximately nine to 15 months, according to CBRE|Raleigh. Lee Cllyburn John Hogan III of CBRE|Raleigh are handling leasing at the development.

January 13, 2023

Leasing Activity Life Sciences Massachusetts Northeast

Veeco Signs 16,506 SF Life Sciences Lease in Waltham, Massachusetts

by Taylor Williams January 13, 2023

WALTHAM, MASS. — Veeco, a New York-based manufacturer of semiconductors and electronics, has signed a 16,506-square-foot life sciences lease at 130 Turner Street, a 270,000-square-foot facility located in the western Boston suburb of Waltham. Matt Malatesta, Mike Frisoli, Tyler McGrail, Margaret Fee and Eric Jeremiah of Newmark represented the landlord, Jumbo Capital, in the lease negotiations. Malatesta also represented the tenant.

January 13, 2023

Acquisitions Development Life Sciences North Carolina Office Southeast

Cushman & Wakefield Brokers Sale of 438,144 SF Office Property in Charlotte, Buyer Plans Life Sciences Conversion

by John Nelson January 9, 2023

CHARLOTTE, N.C. — Cushman & Wakefield has arranged the sale of The Commons at the Park, an adaptive reuse campus located at 6800 Solectron Drive in Charlotte. The property comprises a 438,144-square-foot office building and two additional land parcels. The buyer, Albemarle U.S. Inc., a specialty chemicals company, will utilize the property as a lithium research and development center. Completion of the project, dubbed Albemarle Technology Park, is scheduled for late 2026. Keith Bell, Matt Treble, Dirk Riekse and Eric Sorenson of Cushman & Wakefield represented the buyer in the transaction. Jessica Brown, David Dorsch and Jordan Williams of Cushman & Wakefield represented the seller, a Shorenstein Properties entity doing business as 6800 Solectron Owner LP.

January 9, 2023

Peninsula-Life-Science-Center-Gemini-Rosemont

Acquisitions California Life Sciences Office Western

Gemini Rosemont Buys Peninsula Life Science Center in Burlingame, California for $59.3M

by Amy Works December 23, 2022

BURLINGAME, CALIF. — Gemini Rosemont Commercial Real Estate has acquired Peninsula Life Science Center in Burlingame from Sansome Street Advisors and Gordon Brothers for $59.3 million in an all-cash transaction. The acquisition was fully funded in partnership with Gemini Investments, an investment company listed on the Hong Kong Stock Exchange. Located at 1828 El Camino Real, the eight-story building features 65,804 square feet of office space. At the time of sale, the property was 98 percent leased and anchored by three life sciences tenants. Built in 1974 and most recently renovated in 2022, the property features floor-to-ceiling windows, an above-market parking ratio and a nearby BART train stop. Seth Siegel, Steve Hermann and Ryan Venezia of Cushman & Wakefield represented the sellers, while Gemini Rosemont was self-represented in the transaction. David Wilson, a property manager with Gemini Rosemont, will manage the asset.

December 23, 2022

Acquisitions Life Sciences New York Northeast

CBRE Brokers $12M Sale of Life Sciences Facility in Orangeburg, New York

by Taylor Williams December 21, 2022

ORANGEBURG, N.Y. — CBRE has brokered the $12 million sale of a 38,400-square-foot life sciences facility located at 25 Corporate Drive in Orangeburg, about 25 miles north of Manhattan. Charles Berger, Elli Klapper, Mark Silverman and Jeremy Wernick of CBRE represented the seller, an entity doing business as 25 Corporate Drive LLC, in the transaction. The team also procured the buyer, Solomon Builders, which acquired the property via a 1031 exchange. At the time of sale, the property was fully leased on a triple-net basis to Scapa North America, a subsidiary of global engineering firm Schweitzer-Mauduit International.

December 21, 2022

Development Life Sciences Loans Northeast Pennsylvania Top Stories

JLL Arranges $290M Construction Loan for Life Sciences Project in Philadelphia’s University City Neighborhood

by Jeff Shaw December 20, 2022

PHILADELPHIA — JLL Capital Markets has arranged a $290 million construction loan for project partners Gattuso Development Partners and Vigilant Holdings of New York to build a new research facility and life sciences development in the heart of Philadelphia’s University City submarket. The development will be the largest life sciences research and lab facility in the city, according to JLL. Located at 3201 Cuthbert St., the 11-story development features 519,647 square feet of wet lab and dry space, 11,908 square feet of street-level retail space and 137 underground parking stalls. SmartLabs and Drexel University have preleased 45 percent of the lab space. This will be SmartLab’s first location in a market outside of San Francisco or Boston. Infrastructure will include lab-friendly column spacing, expanded floor-to-floor heights, an HVAC system designed specifically for lab research, best-practice chemical storage space and ph neutralization capability, and six enclosed loading docks. Robert A.M. Stern Architects designed the property to meet LEED Gold certification. University City spans 2.4 square miles and is home to one of the largest concentrations of health systems, teaching institutions, life sciences, biotech and pharmaceutical companies in the world. “We believe the project validates Philadelphia’s emergence as a global hub for …

December 20, 2022

Newer Posts

Older Posts