Life Sciences

NKF Negotiates Sale of 181,210 SF Life Sciences Facility in Warren, New Jersey

by Taylor Williams October 15, 2020

WARREN, N.J. — Newmark Knight Frank (NKF) has negotiated the sale of a 181,210-square-foot life sciences facility in Warren that is fully leased to Celgene/Bristol Myers Squibb. Kevin Welsh, Brian Schulz, Jason Emrani, Steven Schultz and Dan Reider of NKF represented the seller, a joint venture between Ivy Realty and Waterfall Asset Management, in the transaction. The team also procured the buyer, Thor Equities. The property recently underwent a value-add program that included a new roof and HVAC upgrades.

October 15, 2020

Healthcare Leasing Activity Life Sciences Massachusetts Northeast Office

Azzur Group Signs 50,300 SF Life Sciences Lease in Metro Boston

by Taylor Williams September 30, 2020

BURLINGTON, MASS. — Azzur Group, a firm that helps life sciences companies start and scale, has signed a 50,300-square-foot office lease in Burlington, located north of Boston. Azzur Group plans to take occupancy of its space at 60 Blanchard Road by summer 2021. Newmark Knight Frank represented the building owner, a partnership between locally based development and investment firm Nordblom Co. and Alcion Ventures, in the lease negotiations. The Stevens Group represented the tenant.

September 30, 2020

Acquisitions Healthcare Life Sciences Massachusetts Northeast Office

McCord Development Opens Boston Office, Acquires 64,736 SF Life Sciences Building

by Taylor Williams September 28, 2020

BOSTON — McCord Development, the firm behind the 4,200-acre Generation Park master-planned community in Houston, has opened a Boston office and acquired a 64,736-square-foot life sciences building. The property is located west of the city at 30 Bearfoot Road in Northborough and was formerly occupied by British pharmaceutical giant GlaxoSmithKline. The seller was Alexandria Real Estate Equities.

September 28, 2020

Healthcare Leasing Activity Life Sciences New York Northeast Office

Volastra Therapeutics Signs 11,000 SF Life Sciences Lease in West Harlem

by Taylor Williams September 28, 2020

NEW YORK CITY — Volastra Therapeutics, a biotechnology firm focused on treating cancer, has signed an 11,000-square-foot life sciences lease at the Mink Building in West Harlem. The space is located within the Manhattanville Factory District, a 1.1 million-square-foot office and life sciences campus. New York City-based Janus Property Co. owns the building.

September 28, 2020

California Development Healthcare Life Sciences Office Top Stories Western

IQHQ to Develop $1.5B Life Sciences Campus Along San Diego Waterfront

by Taylor Williams September 28, 2020

SAN DIEGO — IQHQ Inc., a developer of life sciences real estate with offices in Boston and San Diego, will build the San Diego Research and Development District (The RaDD), a $1.5 billion campus that will be located along San Diego’s waterfront. IQHQ has secured various permits and entitlements and plans to break ground on the first phase of the project later this week. Completion of Phase I is scheduled for summer 2023. The RaDD will span eight acres and three city blocks, making it the largest urban commercial waterfront site on the California coast, according to the development team. Preliminary plans call for lab, office and retail space, specific amounts of which were not disclosed. The San Diego Union-Tribune reports that the project will consist of several mid-rise buildings and a 17-story tower, as well as a museum and several acres of green space and rooftop decks. The paper also reports that locally based developer Manchester Financial Group will retain ownership of a portion of the site and will develop a hotel on the campus. “The RaDD is exciting on so many levels — not only does it represent our first acquisition in San Diego, which IQHQ is proud …

September 28, 2020

Healthcare Leasing Activity Life Sciences Office Texas

BioLabs Signs 37,000 SF Life Sciences Lease at Pegasus Park in Dallas

by Taylor Williams September 24, 2020

DALLAS — BioLabs, a Cambridge, Mass.-based biotechnology firm, has signed a 37,000-square-foot life sciences lease at Pegasus Park, a new 23-acre mixed-use development in Dallas. BioLabs expects to take occupancy of the new facility, which will feature both lab and coworking office space, in 2021. The lab will be equipped with an array of scientific equipment and will offer additional services and amenities for tenants. Pegasus Park is a redevelopment of the former campus of jewelry retailer Zale Corp. in the city’s Design District. The developer is a partnership between J. Small Investments and Lyda Hill Philanthropies.

September 24, 2020

Development Healthcare Life Sciences Massachusetts Northeast Office

DLJ Real Estate, Leggat McCall Top Out 290,000 SF Life Sciences Project in Metro Boston

by Taylor Williams September 23, 2020

SOMERVILLE, MASS. — A development team of DLJ Real Estate Capital Partners and Leggat McCall Properties has topped out a 290,000-square-foot life sciences project at 100 South St. in Somerville, located on the northern outskirts of Boston. The project is part of the Boynton Yards development and will house lab and retail space as well as a four-story underground parking garage. Architecture firms SGA and Hashim Sarkis Studios designed the project, and Shawmut Design & Construction served as the general contractor. Construction began in June 2019 and is expected to be complete next summer.

September 23, 2020

Acquisitions Healthcare Life Sciences Northeast Office Pennsylvania

Ensemble Real Estate Acquires Three Life Sciences Buildings in Philadelphia for $83M

by Taylor Williams September 14, 2020

PHILADELPHIA — California-based Ensemble Real Estate Investments has acquired a trio of life sciences buildings within Philadelphia’s Navy Yard for $83 million. The properties total 366,803 square feet and are occupied by WuXi Advanced Therapies Inc. Ensemble, which has five offices across the country, now owns five life sciences buildings totaling approximately 550,000 square feet within the Navy Yard. The seller(s) was not disclosed.

September 14, 2020

Content Partner Features Industrial Lee & Associates Life Sciences North Carolina Office Southeast

The Triangle’s Office Sector Slows but Life Sciences, Laboratory Sector Shows Resilience

by Sarah Daniels August 31, 2020

As companies extend their work-from-home policies for many traditional office jobs, office leasing in general is undergoing re-evaluation and leasing is slowing. But one sector of office space continues growing as space remains essential: life sciences office, laboratory and manufacturing space. Nowhere does this hold truer than in the Research Triangle in North Carolina. The Triangle occupies a position of power as one of the top five major life sciences centers in the United States. STEM-oriented institutions including Duke, the University of North Carolina at Chapel Hill and North Carolina State University provide education, research opportunities and employment for the area’s highly educated workforce. Large life sciences companies (including giants such as Glaxo Smith Kline, Biogen, Lilly and Pfizer) have taken advantage of the area’s lower cost of living to set up research labs and manufacturing space to support technology and healthcare work. A tenant and buyer representative for life sciences, technology and healthcare clients, Marlene Spritzer, Vice President of Lee & Associates Raleigh Durham, has witnessed firms from around the country relocate to the Triangle for years. Even before the pandemic, the area was attractive to businesses due to its wealth of resources and mild climate as well as …

August 31, 2020

Healthcare Leasing Activity Life Sciences Massachusetts Northeast Office

Reports: Bristol Myers Squibb Signs 360,000 SF Life Sciences Lease at Cambridge Crossing

by Taylor Williams August 25, 2020

CAMBRIDGE, MASS. — Pharmaceutical giant Bristol Myers Squibb has signed a 360,000-square-foot life sciences lease at Cambridge Crossing in metro Boston, according to multiple news outlets including industry publication fiercebiotech.com and The Boston Business Journal. The former reports that Bristol Myers Squibb will occupy a building located at 250 Water St. beginning in early 2023. DivcoWest is the developer of the 2.1 million-square-foot campus, which is under construction and will also feature traditional office and retail space, as well as open green space.

August 25, 2020

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