Sunday, June 22, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Life Sciences

AcquisitionsHealthcareIndianaLife SciencesMidwest

CA Health and Science Trust Acquires Three-Building Medical Office Complex in Northwest Indiana

by Kristin Harlow

MUNSTER, IND. — CA Health and Science Trust Inc. (CAHST), a newly formed private REIT focused on the acquisition and development of medical office and life sciences facilities, has acquired a three-building medical office complex in Munster for an undisclosed price. Munster is located about 30 miles southeast of the Chicago Loop. The buildings total more than 113,200 square feet and are home to ambulatory surgery centers. The sale also includes adjacent land parcels for the potential development of up to 50,000 square feet of additional medical office space. The acquisition is part of an equity commitment of up to $245 million from partners Davidson Kempner Capital Management LP, Monarch Alternative Capital LP and CA Ventures. Mike Wilson, Erik Foster and Jim Kornick of Avison Young represented the seller, LBC Owner LLC.

Continue Reading
FacebookTwitterLinkedinEmail
ALLY
DevelopmentIllinoisLife SciencesLoansTop Stories

Joint Venture Receives $125M Construction Loan for Life Sciences Project in Chicago

by Julia Sanders

CHICAGO — Sterling Bay, Harrison Street and institutional investors advised by J.P. Morgan Global Alternatives have secured a $125 million construction loan for ALLY, a life sciences project in Chicago. Bank OZK provided the financing. Construction is slated to begin this month. Located at 1229 W Concord Place, ALLY will feature 280,000 square feet of Class A medical research lab and creative office space. The life sciences project will be in Lincoln Yards, a 53-acre, mixed-use development created by Sterling Bay. Lincoln Yards was formerly an industrial site that is being redeveloped into a mixed-use community with build-to-suit office developments, retail opportunities, proposed 606 bike trail extension and future residential and hospitality opportunities. When complete, Lincoln Yards will feature affordable housing, create over 23,000 permanent onsite jobs and generate $4.1 billion in economic output for the city of Chicago. ALLY at 1229 W Concord Place is located off the North Branch Chicago River and has private outdoor space on every floor. Mark Burkemper, senior managing director and head of North American transactions at Harrison Street, says the project brings many benefits. “Lincoln Yards is close to several of Chicago’s most notable medical research institutions, and we are excited to expand …

Continue Reading
FacebookTwitterLinkedinEmail
51-Melcher-St.-Boston
AcquisitionsLife SciencesMassachusettsNortheastOffice

JLL Brokers $74.6M Sale of Future Life Sciences Building in Boston’s Seaport District

by Taylor Williams

BOSTON — JLL has brokered the $74.6 million sale of a 102,727-square-foot office building in Boston’s Seaport District that will soon be converted to a life sciences facility. The nine-story building at 51 Melcher St. was originally constructed in 1916 as a concrete masonry warehouse and renovated in 2013. Coleman Benedict, Scott Carpenter and Mike Shepard of JLL represented the seller, Zurich Alternative Asset Management, and procured the buyer in the transaction. JLL has also been retained to lease the property on behalf of the new ownership.

Continue Reading
FacebookTwitterLinkedinEmail
ArizonaLife SciencesMarket ReportsOfficeWesternWestern Market Reports

Phoenix’s Life Sciences Market is on a Record Rise

by Jeff Shaw

By Alexandra Loye, Senior Vice President, Healthcare & Life Sciences Services, Colliers Despite global and domestic market challenges from the pandemic, Phoenix continues to shine amongst its competitive Western cities. With Maricopa County being the fastest-growing county in the U.S., Phoenix offers employers a diverse, educated workforce, business-friendly environment and affordable housing options. Arizona’s economy is booming and experiencing record revenue growth, as well as personal income growth. From 2019 to 2020, Arizona led the nation (tied with Montana) in the category of highest personal income growth with a 7.1 percent increase. The state is also projected to add 325,000 jobs in the next 12 months. Phoenix’s life sciences industry has gained significant momentum during the past 12 months, with no slowdown in sight. The Phoenix Biomedical Campus (PBC) in downtown Phoenix is ground zero for life sciences development and tenant activity. The 30-acre campus is currently occupied by Arizona State University, the University of Arizona, Northern Arizona University, Translational Genomics Research Institute (TGen), OncoMyx Therapeutics, Calviri, Vidium Animal Health, and Exact Sciences, which recently acquired Paradigm Diagnostics and Ashion Analytics. The PBC is the ideal environment when it comes to collaboration and innovation for life sciences tenants. The 227,000-square-foot, …

Continue Reading
FacebookTwitterLinkedinEmail
WashREIT
AcquisitionsDistrict of ColumbiaLife SciencesRetailSoutheastTop Stories

JLL Arranges $168.3M Sale of Retail Portfolio Across Mid-Atlantic

by Julia Sanders

WASHINGTON, D.C. — JLL Capital Markets has arranged the sale of a portfolio of eight infill neighborhood retail assets totaling 695,991 square feet in Washington, D.C., northern Virginia and southern Maryland. Stephen Conley, Danny Finkle, Jordan Lex and Kim Flores of JLL represented the D.C.-based seller, WashREIT (NYSE: WRE), which sold the portfolio for $168.3 million. The buyers were Rosenthal Properties and an undisclosed institutional partner, according to the Washington Business Journal. The news outlet also reports the seller had acquired the eight properties over the span of five decades. The portfolio includes two properties in Washington, D.C., two in Northern Virginia and four in Maryland. The properties in D.C. include Chevy Chase Metro Center and Spring Valley Village. The Virginia properties are 800 S. Washington St. in Alexandria and Concord Centre in Springfield. The southern Maryland properties are Montrose Shopping Center and Randolph Shopping Center in Rockdale; Takoma Park Shopping Center in Takoma; and Westminster Shopping Center in Westminster. The properties are 82 percent leased collectively. Four of the shopping centers are grocery-anchored by stores such as Mom’s Organic Market at Montrose Shopping Center and Aldi at Springfield’s Concord Centre. Other grocery anchors include Food Lion and Giant. The …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaIndustrialLife SciencesMixed-UseTop StoriesWestern

Oxford Properties Group Acquires Industrial Park in Metro LA for $133.5M

by John Nelson

SANTA CLARITA, CALIF. — Oxford Properties Group, a real estate investment and management firm based in Toronto, has purchased Santa Clarita Innovation Park, a 14-building campus situated on 118.5 acres in the Los Angeles suburb of Santa Clarita. Funds managed by Oaktree Capital Management and Intertex Cos. sold the property, which was formerly known as Mann Biomedical Park, for $133.5 million. The acquisition of Santa Clarita Innovation Park falls in line with Oxford’s investment strategy as it is leased to various distribution users and life sciences firms such as Boston Scientific and Bioness. Oxford aims to have 45 to 60 percent of its assets-under-management portfolio to be in life sciences, industrial and residential real estate by 2025. In addition to distribution and life sciences, Santa Clarita Innovation Park includes some offices, a childcare facility and Wolf Creek Brewery. Additionally, the acquisition includes development rights for approximately 40 acres within the park. “Substantially growing our life sciences and industrial businesses represents our highest conviction investment strategies and top priorities at Oxford,” says Chad Remis, executive vice president of North America at Oxford. “The acquisition of Santa Clarita Innovation Park, and its additional development capacity, uniquely provides us with flexibility to build …

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityLife SciencesNew JerseyNortheastOffice

LIXIL Signs 60,000 SF Headquarters Lease at Middlesex Science Center in Piscataway, New Jersey

by Taylor Williams

PISCATAWAY, N.J. — LIXIL, a provider of water and housing products, has signed a 60,000-square-foot lease for its new headquarters at Middlesex Science Center, a 685,000-square-foot office and life sciences campus in the Northern New Jersey community of Piscataway. Keystone Property Group owns the campus, which formerly served as an office and data center for AT&T. Scott Lesh and Scott Stange of JLL represented the tenant in the lease negotiations. CBRE represented Keystone.

Continue Reading
FacebookTwitterLinkedinEmail
HealthcareLeasing ActivityLife SciencesNew YorkNortheastOffice

Opentrons Signs 47,790 SF Life Sciences Lease at Innolabs in Queens

by Taylor Williams

NEW YORK CITY — Opentrons, a provider of lab automation technology, has signed a 47,790-square-foot life sciences lease at Innolabs, a facility located in the Long Island City area of Queens. Pandemic Response Lab, a subsidiary of Opentrons, moved in to a 13,000-square-foot space in late August. Neochromosome, another subsidiary, and Opentrons will occupy the balance of the space beginning in early 2022. Bill Harvey, Jared Horowitz, Jordan Gosin and Emma Kistler of Newmark represented the landlord, a partnership between King Street Properties, The Carlyle Group and GFP Real Estate, in the lease negotiations.

Continue Reading
FacebookTwitterLinkedinEmail
540 Tech Center
DevelopmentHealthcareLife SciencesNorth CarolinaSoutheast

Property Income Advisors Redevelops 110,500 SF Life Sciences Campus in Raleigh

by Julia Sanders

RALEIGH, N.C. — Property Income Advisors Inc. is redeveloping 540 Tech Center, a 110,500-square-foot life sciences property in Raleigh. Located at 4912-4924 Green Road, 540 Tech Center is a two-building property that allows for research and development, office, flex and warehouse users. 540 Tech Center’s amenities include multiple entry points, a 4.3 per 1,000 square feet parking ratio, one dock door per building and two onsite generators. Property Income Advisors changed the name of 540 Tech Center from its previous name, which was the address of the building. The firm also is currently making renovations to the property, including parking lot upgrades, landscape improvements, new monument signage, exterior paint, modernized restrooms and adding a new leasing center. The newly renovated buildings will have open ceilings and expansive floor plates with one of the twin buildings ready for tenant improvements to commence by the end of the year. As of October 2021, the property will be fully vacant. Built in 1983, the previous tenant was Conduent. Mac Hammer, Kent Honeycutt and Stacy Mbithi of Cushman & Wakefield will oversee leasing at the property.

Continue Reading
FacebookTwitterLinkedinEmail
10445-Pacific-Center-Ct-San-Diego-CA
CaliforniaDevelopmentIndustrialLife SciencesOfficeWestern

Sterling Bay West, Harrison Street to Acquire Life Sciences Portfolio in Sorrento Mesa, Plan 1.1 MSF Development

by Amy Works

SAN DIEGO — Sterling Bay West and Harrison Street have agreed to acquire an office and life sciences portfolio in San Diego’s Sorrento Mesa submarket. City Office REIT is selling the assets for an undisclosed price. Located at 10390-10445 Pacific Center Court, 5910 Pacific Center Blvd. and 9985 Pacific Heights, the portfolio comprises four life sciences lab buildings, an empty building ready for speculative office/lab space, two office buildings totaling 420,229 square feet and five acres of excess land. The buyers plan to develop up to 1.1 million square feet of ground-up, Class A life sciences campus facilities on the site. Construction is slated to begin in 2023 and will be completed in phases.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts