Life Sciences

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

Healthcare Leasing Activity Life Sciences Northeast Office Pennsylvania

CBRE Arranges Two Life Sciences Leases Totaling 13,067 SF in Blue Bell, Pennsylvania

by Taylor Williams August 24, 2020

BLUE BELL, PA. — CBRE has arranged two life sciences leases totaling 13,067 square feet at PROTECS Innovation Center, a 50,000-square-foot lab and life sciences building in the northern Philadelphia suburb of Blue Bell. Molecular diagnostics firm KorGene committed to 8,259 square feet, and pharmaceutical and biotechnology firm ThirdLaw Technologies inked a deal for 4,808 square feet. Paul Touhey and Cody Lehrer of CBRE represented the landlord, 4 Valley Square Group LP, in the lease negotiations.

August 24, 2020

Development Illinois Life Sciences Midwest

Sterling Bay Unveils Plans for 320,000 SF Life Sciences Building in Lincoln Yards Project

by Kristin Harlow August 10, 2020

CHICAGO — Sterling Bay has unveiled plans to develop a 320,000-square-foot life sciences building within its Lincoln Yards mixed-use project in Chicago. Designed by Gensler, the facility will be situated along the North Branch of the Chicago River. The plans come on the heels of successful leasing activity at 2430 N. Halsted St., a redevelopment project that Sterling Bay undertook to create state-of-the-art lab space. The building is now more than 50 percent leased to Evozyne, Exicure Inc. and Vanqua Bio. Evozyne, a Chicago-based molecular engineering technology company, recently signed a 30,000-square-foot lease at the property. Evozyne’s space is scheduled for completion in early 2021. David Saad of CBRE represented Sterling Bay in the lease transaction with Evozyne.

August 10, 2020

Healthcare Leasing Activity Life Sciences Massachusetts Northeast

Gene Editing Firm Signs 263,500 SF Life Sciences Lease in Boston’s Seaport District

by Taylor Williams July 28, 2020

BOSTON — Gene editing firm CRISPR Therapeutics has signed a 263,500-square-foot life sciences lease at The 105, a new development in Boston’s Seaport District by Breakthrough Properties. Construction of The 105 began earlier this year and is expected to be complete in early 2022. Cushman & Wakefield represented the tenant in the lease negotiations. Newmark Knight Frank represented Breakthrough Properties, which was launched in 2019 by New York City-based Tishman Speyer and biotech investment firm Bellco Capital. Gene editing refers to technologies that give scientists the ability to change an organism’s DNA.

July 28, 2020

Acquisitions California Industrial Life Sciences Western

BLT Enterprises Acquires Industrial Life Sciences Facility in Southern California for $40.4M

by Amy Works July 16, 2020

CARLSBAD, CALIF. — BLT Enterprises has purchased an industrial life sciences property located at 2827 Whiptail Loop West in Carlsbad. RPG sold the asset for $40.4 million. Completed in 2019, the 146,100-square-foot property features 30-foot clear heights, eight dock-high doors, four grade-level doors, 4,000 amps of power, Grade B, C, D classification clean rooms, a dedicated lab exhaust system, a vacuum pump system and a PH neutralization system. SAFC Carlsbad Inc. fully occupies the property. The tenant is a subsidiary of Merck KGaA, a multinational pharmaceutical, life sciences, research and development company headquartered in Darmstadt, Germany.

July 16, 2020

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