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Life Sciences

FM-Global-Norwood-Massachusetts
DevelopmentLife SciencesMassachusettsNortheast

Hobbs Brook Tops Out 320,000 SF Office, Life Sciences Project in Norwood, Massachusetts

by Taylor Williams

NORWOOD, MASS. — Hobbs Brook Real Estate has topped out a 320,000-square-foot office and life sciences project in Norwood, a southern suburb of Boston, that is a build-to-suit for commercial property insurance company FM Global. The project replaces a 1950s-era building with a four-story office, lab and research and development building and adds a new 930-space parking garage and outdoor amenity spaces. Payette is the project architect, and Shawmut Design & Construction is the general contractor. Completion is slated for 2026. Construction began earlier this year.

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404-Wyman-St.-Waltham-Massachusetts
Leasing ActivityLife SciencesMassachusettsNortheastOffice

ZoomInfo Signs 101,000 SF Office, Life Sciences Lease in Waltham, Massachusetts

by Taylor Williams

WALTHAM, MASS. — ZoomInfo (NASDAQ: ZI) has signed a 101,000-square-foot office and life sciences lease in Waltham, a western suburb of Boston. The business-to-business data ​and AI-powered sales ​platform is taking space at 404 Wyman Street, a 384,841-square-foot building that is part of a larger 2.2 million-square-foot development. CBRE represented the landlord, Hobbs Brook Real Estate, in the lease negotiations. Newmark represented ZoomInfo.

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IllinoisLeasing ActivityLife SciencesMidwest

COUR Pharmaceuticals Signs 50,000 SF Lease at Evanston Labs in Illinois

by Kristin Harlow

EVANSTON, ILL. — COUR Pharmaceuticals has signed a 50,000-square-foot lease at Evanston Labs in Evanston. The company is relocating its headquarters, R&D lab and pilot manufacturing plant to the recently delivered project. COUR, a clinical-stage biotechnology company developing therapies to treat patients with autoimmune diseases, will occupy space across the eighth and ninth floors. Located at the southwest corner of Orrington Avenue and Clark Street, Evanston Labs is an advanced sciences lab building rising 10 stories and totaling 178,800 square feet. Completed earlier this year by Trammell Crow Co. (TCC), the development features a penthouse amenity center, outdoor terrace and health and wellness center.

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GeorgiaLeasing ActivityLife SciencesOfficeSoutheast

Georgia Department of Agriculture Signs 11,129 SF Lease at New Life Sciences Tower in Atlanta

by John Nelson

ATLANTA — The Georgia Department of Agriculture (GDA), via the Georgia State Properties Commission, has signed an 11,129-square-foot lease at Science Square Labs in Atlanta. The 13-story, 368,258-square-foot life sciences building is an anchor of Georgia Tech’s Science Square innovation district, a mixed-use development that spans 18 acres near campus and will include retail space and The Grace Residences apartment tower. Trammell Crow Co. delivered Science Square Labs, the first speculative life sciences building in the city’s history, in April 2024. The GDA will occupy pre-built lab and office space on the building’s 11th floor. Eric Ross, Jessica Doyle and Graham Little of CBRE represented the landlord in the lease negotiations, while Erik Weiss and Kari Downing with Savills represented the tenant. The organization joins national life sciences incubator Portal Innovations, which leased 33,000 square feet at Science Square Labs this past summer.

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Leasing ActivityLife SciencesNortheastPennsylvania

Stream Realty Partners Negotiates 47,194 SF Life Sciences Lease in Ambler, Pennsylvania

by Taylor Williams

AMBLER, PA. — Stream Realty Partners has negotiated a 47,194-square-foot life sciences lease in Ambler, a northern suburb of Philadelphia. The space is located within Building 14B of Spring House Innovation Park, an office and life sciences campus that consists of 11 buildings totaling 600,000 square feet on 133 acres. Zach Leger of Stream represented the tenant, Nucleus Radiopharma Inc., in the lease negotiations. Matthew Knowles, Paul Touhey and Cody Lehrer of CBRE represented the undisclosed landlord.

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Affordable HousingBuild-to-RentCivicData CentersFeaturesHealthcareHospitalityIndustrialLife SciencesMixed-UseMultifamilyNet LeaseNevadaOfficeRestaurantRetailSelf-StorageSeniors HousingSingle-Family RentalStudent HousingWesternWestern Feature Archive

Emerging Trends Report Predicts Rebound in Transaction Volume in 2025 as Capital Markets Are ‘Poised for Recovery’

by John Nelson

LAS VEGAS — At the September meeting of the Federal Open Market Committee (FOMC), the Federal Reserve lowered the federal funds rate by 50 basis points, which is the first easing of monetary policy in four years. This move lowered the short-term interest rate to a target range of 4.75 to 5 percent. Elevated borrowing costs have stifled commercial real estate transaction volumes the past couple years as buyers and sellers found that values were a moving target. Now with a reduction in interest rates, many real estate professionals expect transaction volume to rebound at least moderately. “In 2025, we expect lower interest rates will reduce borrowing costs, aid in price discovery and ultimately encourage an uptick in [commercial real estate] transactions,” said Angela Cain, global CEO of the Urban Land Institute (ULI). Cain’s comments came in a prepared statement to summarize the findings of Emerging Trends in Real Estate 2025, an annual report jointly produced by PwC US and ULI. The report was published in conjunction with ULI’s Fall Meeting, which is taking place this week at Resort World Las Vegas. Cain said that the real estate professionals surveyed for the report relayed that sentiment is improving, though many remain cautious. …

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DevelopmentLife SciencesMidwestMinnesotaMixed-UseTop Stories

Mortenson, University of Minnesota Foundation Plan 3 MSF Mixed-Use Village

by John Nelson

MINNEAPOLIS — A partnership between locally based developer Mortenson and The University of Minnesota Foundation Real Estate Advisors (UMFREA) is in the planning stages of a 12-acre mixed-use village on the eastern edge of the University of Minnesota’s Twin Cities campus. The project, which will span 3 million square feet, is named The Minnesota Innovation Exchange, or “The MIX.” Located in Minneapolis, the development site is bounded to the north by the school’s Biomedical Discovery District and the football stadium, Huntington Bank Stadium. The MIX is bounded to the south by the university’s future clinical campus expansion. Mortensen and UMFREA, which oversees the real estate decisions of the University of Minnesota Foundation, recently selected commercial real estate services giant CBRE to lease The MIX. At full build-out, the private development will include research-and-development space, creative offices, hotel rooms, apartments, shops and restaurants. The project team, which includes architectural firm HGA, hopes to attract life sciences users to The MIX to capitalize on the Twin Cities’ reputation as a hub for health and science activity, including a concentration of medical device manufacturers headlined by Medtronic and 3M. “This is an incredibly exciting opportunity for prospective tenants to participate in the most unique …

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Torrey-View
CaliforniaDevelopmentLife SciencesTop StoriesWestern

Breakthrough Properties Completes 520,000 SF Life Sciences Campus in San Diego

by Katie Sloan

SAN DIEGO — Breakthrough Properties, a joint venture between Tishman Speyer and Bellco Capital, has completed the development of Torrey View, a 520,000-square-foot life sciences campus located in the Del Mar Heights neighborhood of San Diego.  The 10-acre property was fully preleased and is home to the oncology division of biopharmaceutical company Pfizer, which occupies 230,000 square feet across two buildings; and the innovation center for the biosciences division of BD, a global medical technology company, which occupies a 220,000-square-foot-building. Additional tenants include Charles River Laboratories, Actio Biosciences and Architect Therapeutics. Torrey View offers expansive ocean views and a full suite of amenities, including a client clubhouse, multiple dining options, a fitness center and pickleball court, 400-person conference facility, bike and surfboard storage and a partially below-grade parking garage covered by open green spaces and gardens.  The joint venture acquired the development site for the campus, which has achieved LEED Gold certification, in October 2020. Equity partners in the project included Mitsui Fudosan America, Investment Management Corp. of Ontario and AP2. The development team included life sciences architectural firm Flad Architects and general contractor Clark Construction, and leasing for the project was handled by JLL.  Formed in 2019, Breakthrough Properties …

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66-Galen-Street-Watertown-Massachusetts-1
Leasing ActivityLife SciencesMassachusettsNortheast

NewCo Signs 61,189 SF Life Sciences Lease in Watertown, Massachusetts

by Taylor Williams

WATERTOWN, MASS. —Biotechnology company NewCo has signed a 61,189-square-foot life sciences lease in the western Boston suburb of Watertown. The building at 66 Galen St. is a newly completed, 225,000-square-foot facility that is part of a larger, 450,000-square-foot campus. Evan Gallagher and John Carroll of Colliers represented NewCo in the lease negotiations. Duncan Gratton, Connor Barnes and Joe Pearce of Cushman & Wakefield represented the landlord, partnership between two locally based firms, Davis Cos. and Boston Development Group.

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Leasing ActivityLife SciencesMassachusettsNortheast

LifeMine Signs 56,456 SF Life Sciences Lease in Watertown, Massachusetts

by Taylor Williams

WATERTOWN, MASS. — Biopharmaceutical company LifeMine has signed a 56,465-square-foot life sciences lease in the western Boston suburb of Watertown. The building at 66 Galen St. is a newly completed, 225,000-square-foot facility that is part of a larger, 450,000-square-foot campus. Evan Gallagher and John Carroll of Colliers represented LifeMine in the lease negotiations. Duncan Gratton, Connor Barnes and Joe Pearce of Cushman & Wakefield represented the landlord, a partnership between two locally based firms, Davis Cos. and Boston Development Group.

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