Life Sciences

CBRE Brokers Sale of 94,506 SF Healthcare, Life Sciences Facility in Webster, Texas

by Taylor Williams March 31, 2022

WEBSTER, TEXAS — CBRE has brokered the sale of The Webster Medical Office & Life Sciences Campus, a two-building, 94,506-square-foot facility located in the southeastern Houston suburb of Webster. The campus was built between 2006 and 2008 and was fully leased at the time of sale. Biomedical conglomerate Catalent anchors the roster of 11 tenants with a 32,000-square-foot space, and other users include Centre for Neuro Skills (CNS), Texas Skin Center, Texas ENT, Arthritis Relief Centers and ProActive Physical Therapy Centers. Lee Asher, Chris Bodnar, Jordan Selbiger, Ryan Lindsley, Sabrina Solomiany, Zack Holderman and Brandy Bellow Spinks of CBRE represented the seller, a joint venture between Virtus Real Estate Capital and Lincoln Property Co., in the transaction. The buyer and sales price were not disclosed.

March 31, 2022

Development Georgia Life Sciences Multifamily Southeast Top Stories

Trammell Crow, High Street Residential Plan Life Sciences, Multifamily Project Near Georgia Tech in Atlanta

by Kristin Harlow March 30, 2022

ATLANTA — Trammell Crow Co. (TCC) and its residential subsidiary High Street Residential (HSR), along with Georgia Advanced Technology Ventures (GATV), have closed on ground leases and are ready to begin construction on the first phase of a life sciences and multifamily development adjacent to Atlanta’s Georgia Institute of Technology campus. Formerly known as Technology Enterprise Park, the site is now named Science Square. The first phase will include TCC’s Science Square Labs, a 364,740-square-foot speculative lab and office tower. The lab project is the only ground-up commercial lab space under construction in the Atlanta market, according to TCC. Phase I will also include HSR’s 280-unit multifamily building, the firm’s first residential development in Atlanta. The multifamily component will include shared parking and ground-floor retail space. Designed by Perkins + Will, Science Square Labs will rise 13 stories with 35,558-square-foot floor plates. The facility will also feature ground-floor retail space and amenities such as a fitness center, conference space, indoor-outdoor tenant lounge and outdoor amenity deck. TCC is seeking LEED and WELL certifications for the property and plans to incorporate View Dynamic Glass, which controls ultraviolet and visible light from entering the building without blinds. Additionally, the project will feature …

March 30, 2022

Acquisitions Development Life Sciences Loans Massachusetts Northeast

JLL Arranges $542.5M in Financing for Spec Life Sciences Project in Boston’s Seaport District

by Taylor Williams March 29, 2022

BOSTON — On behalf of Boston Global Investors, JLL has arranged $542.5 million in financing for 10 World Trade, a 555,250-square-foot speculative life sciences project in Boston’s Seaport District. The financing package consists of a $382.5 million construction loan from an undisclosed life insurance company and $160 million in joint venture equity contributions from PGIM Real Estate and Wheelock Street Capital. Designed by Sasaki, the 17-story building will house office and life sciences users on floors three through 17, while the ground floor will feature a two-story public atrium with a 45-foot domed ceiling, a food hall and a garden lounge. Sitework began recently, and completion of the project is slated for late 2024. Anthony Cutone and Andrew Gray of JLL structured the financing on behalf of the borrower. JLL has also been retained to lease the building.

March 29, 2022

Development Life Sciences Northeast Pennsylvania

Partnership Tops Out 250,000 SF Life Sciences Building in Philadelphia

by Taylor Williams March 21, 2022

PHILADELPHIA — A partnership between developer Silverstein Properties, New York City-based investment firm Cantor Fitzgerald and University Place Associates has topped out 3.0 University Place, a 250,000-square-foot life sciences building in Philadelphia’s University City neighborhood. Construction of the eight-story lab and office building began in May 2021. The Sheward Partnership designed the project. Ben Franklin Technology Partners has already signed a lease to open an incubation lab and coworking facility at 3.0 University Place. The opening is scheduled for the fourth quarter.

March 21, 2022

Development Life Sciences Northeast Pennsylvania

Joint Venture Breaks Ground on 137,000 SF Life Sciences Project at Philadelphia Navy Yard

by Taylor Williams March 21, 2022

PHILADELPHIA — A joint venture between Ensemble Real Estate Investments, Mosaic Development Partners and Oxford Properties Group has broken ground on a 137,000-square-foot life sciences project at the Philadelphia Navy Yard. The project is being developed on a speculative basis for cell and gene therapy users and will be able to support tenants with space requirements ranging in size from 5,000 to 35,000 square feet. CRB is designing the project. A completion date was not disclosed.

March 21, 2022

Sorrento-Ridge-Research-Park-San-Diego-CA

Acquisitions California Life Sciences Office Western

Sterling Bay, Harrison Street Acquire Sorrento Ridge Research Park in San Diego for $34M

by Amy Works March 18, 2022

SAN DIEGO — Sterling Bay and Harrison Street have entered into a joint venture to purchase Sorrento Ridge Research Park, located at 6150 Nancy Ridge Drive in San Diego’s Sorrento Mesa submarket, for $34 million. The name of the seller was not released. Totaling 60,000 square feet, Sorrento Ridge Research Park is a fully vacant former office building, which was built in 1987 and renovated in 2021. The buyers plan to convert the property into a mix of Class A lab and creative office space. All lab space will include scientific research necessities such as fume hoods; lab benches with compressed air and vacuum; deionized water stations; piping for natural gas; and the option to add lab furniture, fixtures and equipment, if needed. The project is expected to undergo redevelopment improvements starting this year, with expected delivery to future tenants in 2023.

March 18, 2022

Development Life Sciences Massachusetts Northeast Office

DPS Group Completes $150M Lab, Manufacturing Project in Boxborough, Massachusetts

by Taylor Williams March 9, 2022

BOXBOROUGH, MASS. — Engineering and construction management firm DPS Group has completed a $150 million, build-to-suit life sciences project for viral vector gene therapy firm Vibalogics in Boxborough, about 35 miles west of Boston. The project consists of about 118,000 square feet of lab, office and manufacturing space. Lincoln Property Co. developed and owns the property.

March 9, 2022

Development Life Sciences Office Top Stories Washington Western

RMR Group Begins 300,000 SF Office, Life Sciences Redevelopment Project in Seattle

by Kristin Harlow March 9, 2022

SEATTLE — The RMR Group Inc. (NASDAQ: RMR) has begun the redevelopment of 351, 401 and 501 Elliott Avenue West in Seattle into a project dubbed Unison Elliott Bay. The existing three office buildings will be transformed into Class A office and life sciences space totaling more than 300,000 square feet. Amenities will include an outdoor lounge, conference and training rooms, fitness facility, new lab mechanical infrastructure and two backup generators for labs. Tenants will also have access to covered and surface parking, bike storage and electric vehicle charging stations. Customizable floor plates will range from 21,000 to 27,500 square feet. The buildings are located near the new Climate Pledge Arena, home of the Seattle Kraken National Hockey League team, as well as 15 acres of trails, beaches and open space. Tenants will also have access to onsite food options in addition to the dining and retail amenities of Seattle’s Lower Queen Anne neighborhood. “Unison’s customizable floor plates, distinctive spaces and common areas that prioritize wellness, with views of the natural beauty of the Puget Sound and Olympic Mountains, will be in demand from an array of tenants,” says Chris Bilotto, senior vice president of RMR. “We anticipate delivery in …

March 9, 2022

Development Life Sciences New York Northeast

Janus Property Co. Completes $700M Life Sciences Project in Harlem

by Taylor Williams March 3, 2022

NEW YORK CITY — Locally based developer Janus Property Co., in partnership with J.P. Morgan Asset Management, has completed the Taystee Lab Building, a $700 million life sciences project in Harlem. The 11-story, 350,000-square-foot building anchors the Manhattanville Factory District, Janus Property’s 1 million-square-foot life sciences campus that stretches from West 125th to West 128th streets. The property, which is a redevelopment of the former Taystee bread bakery, features traditional office, lab, manufacturing and retail space, as well as 20,000 square feet of outdoor amenity space. Construction began in May 2019.

March 3, 2022

Acquisitions Life Sciences Massachusetts Northeast

GI Partners Acquires 164,000 SF Life Sciences Building in Burlington, Massachusetts

by Taylor Williams March 2, 2022

BURLINGTON, MASS. — GI Partners, an investment firm with four offices across the country, has acquired a 164,000-square-foot life sciences building in Burlington, a northern suburb of Boston. in GI Partners acquired the asset as part of a life sciences portfolio sale that included a 103,000-square-foot building in Boston’s Seaport District, as well as a 152,000-square-foot building near Raleigh, N.C. The seller and sales price were not disclosed. The new ownership plans to implement a value-add plan.

March 2, 2022

Newer Posts

Older Posts