Life Sciences

Biotech Firm Opens 15,585 SF Headquarters at Georgia Tech’s Technology Enterprise Park in Atlanta

by Camren Skelton April 9, 2018

ATLANTA —Vero Biotech has opened a new 15,585-square-foot headquarters at the Georgia Institute of Technology’s Technology Enterprise Park in Atlanta. The biopharmaceutical company, formerly known as GeNO LLC, designs, develops and commercializes products for patients with pulmonary and cardiac diseases. Vero Biotech will move its administrative, research & development and manufacturing departments from its current office in Cocoa, Fla., to the new space over the next six to 12 months. The company plans to double its operations, hiring up to 40 new employees over the next year. In addition, Vero Biotech will partner with Georgia Tech to provide hands-on experience and internship opportunities for students. Chad Koenig and Ben Jackson of Cushman & Wakefield represented Vero Biotech in the lease negotiations, and Enio Guerra and Dick Bowers of Richard Bowers & Co. represented Georgia Tech.

April 9, 2018

California Life Sciences Office Western

Pacific Biosciences Leases Space at Menlo Park Labs

by Nellie Day May 11, 2017

MENLO PARK, CALIF. — Pacific Biosciences of California has leased space at the 180,000-square-foot Menlo Park Labs life science building. The space is located at 1305 O’Brien Drive. The structure was formerly an Office Max distribution facility. Other tenants at the lab include Refuge Biotechnologies and AccuraGen. The space will serve as Pacific Biosciences’ corporate headquarters. The firm leased the space through 2027. The landlord is Tarlton Properties.

May 11, 2017

Florida Life Sciences Office Southeast

Biotech Firm Leases 125,000 SF in Tampa

by Taylor Williams March 29, 2017

TAMPA, FLA. — Amgen, a California-based biopharmaceutical company, has leased 125,000 square feet of office space at Corporate Center, a 1.2 million-square-foot office building in the Tampa submarket of Westshore. Located at 2202 N. Westshore Blvd., the Class A property will house Amgen’s new, 450-employee business support center. Cousins Properties Inc., an Atlanta-based REIT that primarily invests in Class A office towers, represented Amgen in the transaction.

March 29, 2017

Industrial Life Sciences New Jersey Northeast Office

QuVa Pharma to Acquire 160,000 SF Biotech Facility in New Jersey

by Amy Works July 27, 2016

NEW JERSEY — QuVa Pharma Inc. has signed an agreement to acquire an FDA-approved biotech pharmaceutical facility near Route 78 in western New Jersey. The 160,000-square-foot facility will enable QuVa Pharma to significantly extend its production capability and capacity to deliver high-quality, ready-to-use compounded sterile drug preparations to hospitals in key markets in the eastern half of the United States. QuVa currently operates two 503B-registered manufacturing facilities in Texas. Terms of the sale, including the name of the seller and acquisition price, were not released.

July 27, 2016

Life Sciences Loans Massachusetts Northeast Office Top Stories

Senior Housing Properties Trust Secures $620M Loan for Life Sciences Buildings in Boston

by Nellie Day July 18, 2016

BOSTON — Senior Housing Properties Trust (NYSE: SNH) has obtained a $620 million mortgage loan for two life sciences buildings in Boston’s Seaport District. The 15-story, Class A towers include 1.6 million square feet of lab space, corporate office space, structured parking and ground-floor retail space. SNH purchased the towers in May 2014 for $1.1 billion. They are 96 percent leased to Vertex Pharmaceuticals through 2028. Vertex is the manufacturer of hepatitis C and cystic fibrosis pharmaceutical treatments. The 10-year loan is interest-only, carries a fixed interest rate of 3.53 percent and matures in August 2026. SNH will use the loan proceeds to repay a portion of the outstanding borrowings under the company’s $1 billion unsecured revolving credit facility, as well as for general business purposes. Following the repayment, there will be approximately $900 million available under SNH’s unsecured revolving credit facility. “We are pleased to take advantage of the current low interest rate environment to term out the majority of the outstanding balance on our unsecured revolving credit facility and to extend the average maturity of our debt to 8.9 years,” says David Hegarty, SNH’s president and chief operating officer. “We believe that this transaction also highlights the value …

July 18, 2016

Bio Tech Place, Wake Forest University, Winston-Salem, N.C.

Healthcare Life Sciences Top Stories

Ventas to Acquire Entire Wexford Life Science, Medical Portfolio for $1.5B

by Jeff Shaw July 6, 2016

CHICAGO — Giant healthcare REIT Ventas (NYSE: VTR) has agreed to acquire all the life sciences and medical real estate assets of Wexford Science & Technology for $1.5 billion. Wexford will continue to operate the portfolio, which includes 25 Class A properties totaling 4.5 million square feet. Blackstone Real Estate Partners VIII LP is the current owner of the properties, which are largely leased to universities, academic medical centers and research companies. Tenants include Yale University, the University of Pennsylvania Health System, Washington University in St. Louis, Wake Forest University and Alexion Pharmaceuticals. Of the 25 properties, 23 are currently in operation and are 97 percent leased. The remaining two properties are currently under development and are nearly 60 percent pre-leased to Duke University and Wake Forest University. Chicago-based Ventas also plans to acquire nine development sites contiguous to the existing assets for $50 million. The purchase will significantly diversify Ventas’ portfolio, as the company’s previous focus was almost exclusively on seniors housing and healthcare properties. Ventas has the second-largest portfolio of seniors housing in the United States with 785 properties totaling 69,708 units, according to the American Seniors Housing Association’s most recent numbers. The transaction includes a long-term management …

July 6, 2016

Life Sciences Loans Massachusetts Northeast Office

Longfellow Real Estate Partners Receives $51M in Financing for Biotech Building in Massachusetts

by Amy Works May 25, 2016

CAMBRIDGE, MASS. — An affiliate of Longfellow Real Estate Partners has received $51 million in recapitalization financing for a laboratory/biotechnology building located at 1030 Massachusetts Ave. in Cambridge. Greg LaBine of HFF placed the five-year, fixed-rate loan with Capital One Healthcare for the borrower. The 77,805-square-foot property is fully leased to seven tenants: five biotech tenants, an indoor cycling studio and a restaurant, which is slated to open in early this summer.

May 25, 2016

texas-A&M-university-TAMU-Agriculture-&-LifeSciences

Life Sciences Multifamily Student Housing Texas

Skanska Breaks Ground on $21M Agriculture & Life Science Building at Texas A&M University

by Haisten Willis November 17, 2015

COLLEGE STATION, TEXAS — Skanska USA has been awarded a $21 million contract with Texas A&M University to oversee the construction of the Agriculture & Life Science Building 4. The project broke ground on Nov. 13 and it will be completed in February 2017. The five-story, 80,000-square-foot building will house the university’s Department of Wildlife and Fisheries Sciences. The first three floors will include offices, conference rooms and dry work areas. The top two floors will include teaching and wet research laboratories. Kirskey Architecture is project architect.

November 17, 2015

California Life Sciences Loans Office Western

Genesis at Campus Point in San Diego to Undergo $96.4M Biotech Conversion

by Nellie Day November 10, 2015

SAN DIEGO — HFF has arranged a $96.4 million loan for Genesis at Campus Point, a vacant, four-building office complex in the UTC submarket of San Diego, which will fund the complex’s conversion into a biotech space. The 311,022-square-foot campus is located at 4224, 4242 and 4244 Campus Point Court and 10210 Campus Point Drive. The space is situated near the convergence of interstates 5 and 805 inside a life science cluster. Other notable tenants in the area include the University of California San Diego, Scripps medical campus, Illumina, Eli Lilly and Celgene. The buildings will feature multiple conference rooms, an on-site café with indoor and outdoor seating, a full-service fitness center, large balconies and a combination of covered and surface parking. HFF’s Tim Wright, Todd Sugimoto and Zack Holderman arranged the financing on behalf of the borrower, a partnership between Phase 3 Real Estate Partners and its institutional partner. The 36-month, floating-rate loan was placed with TPG Real Estate Finance Trust. Proceeds will be used to recapitalize the mid-year acquisition and fund the immediate repositioning costs of the asset.

November 10, 2015

Life Sciences Loans Massachusetts Northeast Office

HFF Secures $74.2M in Financing for Lab/Biotech Building in Waltham

by Amy Works September 24, 2015

WALTHAM, MASS. — Holliday Fenoglio Fowler (HFF) has secured $74.2 million in first mortgage financing for a lab/biotech facility located at 830 Winter St. in Waltham, a western suburb of Boston. HFF arranged the floating-rate loan with Wells Fargo while working on behalf of the borrower, a joint venture between King Street Properties and an affiliate of Carlyle Realty Partners VII. Completed in 2001, the 182,104-square-foot facility is fully leased to ImmunoGen, GlaxoSmithKline and Histogenics Corp. Greg LaBine of HFF represented the borrower in the financing transaction.

September 24, 2015

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