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Life Sciences

6-Thomas-Irvine-CA
AcquisitionsCaliforniaLife SciencesWestern

CBRE Brokers $11M Sale of Life Sciences Building in Irvine, California

by Amy Works

IRVINE, CALIF. — CBRE has negotiated the sale of a life sciences facility located at 6 Thomas in the Irvine Spectrum Center neighborhood of Irvine. MP Biomedicals LLC acquired the property for $11 million. Ross Bourne and Chip Wright of CBRE represented the undisclosed seller in the deal. Situated on approximately 1.5 acres, the 28,835-square-foot building was converted from a light manufacturing property to a lab in 2005. Previous tenants of the building include Eagle Pharmaceuticals, Enevate Corp., BIT Group and Planet Innovation.

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Bayer Headquarters at 67 Whippany Rd Whippany, NJ
BohlerContent PartnerDevelopmentFeaturesLife SciencesMidwestNortheastOfficeSoutheastTexasWestern

Life Sciences Developer Checklist: Processes to Accelerate Speed to Market

by Sarah Daniels

Combinations of offices with laboratories, research and development spaces and/or manufacturing areas make life sciences facilities highly customizable. These multipurpose, technical spaces are in high demand from companies seeking first-class facilities for research-based advancements. Low vacancies, high rents and the chance to convert unused office or retail spaces on a faster timeline have prompted some creative approaches to retrofit existing space to fulfill the needs of science and technology tenants. In other instances, facilities must be built from the ground up to conform to best practices. But what factors matter most to the life sciences field? And how can developers increase their speed to market? Read on for tips and checklists for developers hoping to speed up the process of building or retrofitting these facilities. Industry Drivers: Speed to Market and Flexibility Office conversions into life sciences facilities offer a variety of options. Life sciences facilities often do not need to accommodate large trucks (eliminating circulation and loading dock concerns), they use office components and (most importantly) office conversions offer faster speed to market than other types of conversions. “Speed to market is most important for these developers/tenants. There is a shortage of space, so a well-designed, spec building will …

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AcquisitionsLife SciencesNorth CarolinaSoutheastTop Stories

CBRE Acquires Park Point Life Sciences Campus in Durham, North Carolina for $288M

by Jeff Shaw

DURHAM, N.C. – CBRE Investment Management, on behalf of a separate account client, has acquired Park Point, a 662,607-square-foot life sciences campus located within Research Triangle Park in Durham. Although the seller and price were not disclosed, Triangle Business Journal reports that Starwood Capital sold the asset for $288 million. Starwood, along with Trinity Capital and Vanderbilt, acquired Park Point in 2019 as a vacant, single-tenant industrial building, implementing a $190 million adaptive reuse project at the 95-acre site. The property now offers flexible space solutions for office, life sciences and manufacturing tenants. Located at 4001 NC Highway 54, campus amenities include a fitness center, cafe, indoor/outdoor common areas, athletic fields, walking trails, 2,546 parking spaces and a conference and training center. Park Point also has new, efficient systems that reduce energy and water consumption and enhance indoor air quality. Electric vehicle charging stations are slated to be installed at the property. “Today’s life sciences end-users have very specific and sophisticated needs for lab and research spaces,” said Sondra Wenger, head of Americas commercial operator division for CBRE Investment Management. “We believe that Park Point meets those needs and fits well with our investment strategy. This uniquely amenitized asset benefits …

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Life SciencesMarket ReportsNorth CarolinaSoutheastSoutheast Market Reports

Life Sciences Reign Supreme in Research Triangle

by John Nelson

While the Research Triangle Park (RTP) is the heartbeat of all things life sciences in the Southeast, the outlying areas of the Raleigh-Durham market, commonly referred to as the Triangle, haven’t been ignored by expansive growth in the sector. Corporate announcements and expansions in Holly Springs, Sanford, Four Oaks and Hillsborough have been more prevalent in recent years, as well as in the home base of Raleigh. Amgen, a California based company, is constructing a $550 million biomanufacturing facility in Holly Springs, and Becton Dickinson recently selected Four Oaks in Johnston County for its new manufacturing site, with plans to invest approximately $25 million in the development. After many years of focusing on the manufacturing industry, Lee County, approximately 40 miles from Raleigh, is becoming a burgeoning hub for life sciences after the expansions of Pfizer’s 230-acre site. A subsidiary of Abzena chose Sanford following a nationwide search for its 325-job manufacturing facility. Also in Sanford, Astellas Gene Therapies delivered a $109 million facility in the second quarter, its first outside California. It is evident that investors and developers see great opportunity in both the heart of the Triangle’s urban cores and rapidly growing outlying counties. Developers are responding to …

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FORUM-Boston-Landing
DevelopmentLife SciencesMassachusettsNortheast

Lendlease, Ivanhoe Cambridge Break Ground on $500M Life Sciences Project in Boston

by Taylor Williams

BOSTON — A partnership between Lendlease and Ivanhoe Cambridge has broken ground on a $500 million life sciences project within Boston Landing, a mixed-use destination in the Allston/Brighton area. The nine-story, 350,000-square-foot building at 60 Guest St. will be branded FORUM and will feature traditional office space in addition to lab and research/development space. SGA Architects is designing the project, and Consigli Construction Co. is serving as the general contractor. Completion is slated for 2024. The partnership first acquired the land for the project from NB Development Group, the master developer of Boston Landing, in March 2021.

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AcquisitionsDevelopmentLife SciencesWashingtonWestern

LPC West, Intercontinental Real Estate Buy Site for Nine-Story Life Sciences Development Near Seattle’s Space Needle

by Amy Works

SEATTLE — LPC West has partnered with Intercontinental Real Estate Corp. to acquire a development site for a nine-story life sciences building near Seattle’s Space Needle. Located on the border of the South Lake Union and Uptown neighborhoods, the building will total approximately 195,000 square feet and will cater to the needs of the city’s flourishing life sciences sector. Currently in the early design stages, the Class A building will feature views of the Space Needle, Climate Pledge Arena and the Puget Sound. Additionally, the site offers full transit accessibility with access to the Seattle Center Monorail, metro transit routes and Highway 99.

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Coal-Creek-Innovation-Park-Superior-CO
ColoradoDevelopmentLife SciencesTop StoriesWestern

PMB, Montgomery Street Partners Plan $280M Coal Creek Innovation Park Life Sciences Development in Superior, Colorado

by Jeff Shaw

SUPERIOR, COLO. — PMB, in partnership with Montgomery Street Partners, has unveiled plans for Coal Creek Innovation Park, a $280 million speculative life sciences development in downtown Superior. Totaling 365,000 square feet between Denver and Boulder, the park will be the first speculative purpose-built life sciences project in Boulder County, according to the developers. Initial plans for the project include three office/lab buildings ranging in size from 85,000 square feet to 150,000 square feet, and a fourth building with ground-floor retail space, amenities and structured parking. The buildings will offer 16-foot floor-to-floor heights and flexible infrastructure to accommodate office, lab and R&D uses. Shared lab services, including RODI (reverse osmosis deionized) water, dedicated laboratory water, compressed air, glass wash and a lab waste system, will be available to all tenants. Additionally, the project will have a gym with showers, bike rooms and shared conference facilities. “Life sciences companies are looking to the Boulder/Denver region as a place where they can plant their flag or grow their operations,” says Erik Abrahamson, senior vice president at CBRE. “They are attracted to Colorado’s highly educated and skilled workforce and ecosystem of educational and research institutions. While historically it has been difficult to find available lab space in Boulder County, projects like …

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Thermo-Fisher-Plainville-Massachusetts
DevelopmentLife SciencesMassachusettsNortheast

Thermo Fisher Opens 300,000 SF Life Sciences Facility in Plainville, Massachusetts

by Taylor Williams

PLAINVILLE, MASS. — Thermo Fisher Scientific, which researches and manufactures gene therapy treatments, has opened a 300,000-square-foot life sciences facility in Plainville, located near the Massachusetts-Rhode Island border. Thermo Fisher will use the facility, which will contain lab, manufacturing and distribution space, for the production and testing of viral vectors, which are key components of gene therapy treatments. The project is expected to bring about 300 new jobs to the local economy. With the opening of the Plainville site, Thermo Fisher now operates 15 facilities and employs more than 3,500 people throughout Massachusetts.

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AcquisitionsDevelopmentLife SciencesMassachusettsNortheastOffice

Jumbo Capital, Apollo Global Buy Metro Boston Office Building for $21M, Plan Life Sciences Conversion

by Taylor Williams

CANTON, MASS. — A joint venture between Jumbo Capital and Apollo Global Management has purchased a 79,000-square-foot office building in the southern Boston suburb of Canton for $21 million with plans to convert the property into a life sciences facility. The development team plans to redevelop the existing building and add a 46,460-square-foot manufacturing space. Jeff Black, Bryan Koop and Sean Burke of Colliers arranged $57.7 million in acquisition and construction financing through Cambridge Savings Bank on behalf of the joint venture. Frank Petz, Matt Sherry, Brooke Howard and Rob Schlesinger, also with Colliers, brokered the sale of the property.

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9501-Lakeside-Blvd.-The-Woodlands
Leasing ActivityLife SciencesTexas

Cellipont Bioservices Signs 76,245 SF Life Sciences Lease in The Woodlands

by Taylor Williams

THE WOODLANDS, TEXAS — Cellipont Bioservices, a California-based biotechnology company specializing in cell therapy treatments, has signed a 76,245-square-foot life sciences lease in The Woodlands, located about 30 miles north of Houston. The facility will be constructed in phases from the ground up, with initial operations expected to commence during the first half of 2023. Zach Leger and Holden Rushing of NAI Partners represented the tenant in the lease negotiations. Dave Baker and Brian Buglione of JLL represented the landlord, Vitrian.

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