Life Sciences

JLL Arranges $140M Construction Loan for Life Sciences Building in Metro Boston

by Alex Patton August 29, 2019

SOMERVILLE, MASS. — JLL has arranged a $140 million construction loan for 101 South Street, a life science development in Somerville, a northern suburb of Boston. The project represents Phase I of the borrower’s planned mixed-use development, which will include retail and residential components as well as public green space. JLL arranged the financing on behalf of the borrower, a joint venture between New York-based developer DLJ Real Estate Capital Partners and Boston-based developer Leggate McCall Properties. Construction is slated for completion in 2021.

August 29, 2019

Acquisitions Life Sciences North Carolina Office Southeast

JLL Negotiates $405M Sale of Life Sciences Portfolio in Durham

by Alex Tostado August 2, 2019

DURHAM, N.C. — JLL has arranged the $405 million sale of Keystone Technology Park and Imperial Center, which total 1.3 million square feet of office space across 18 buildings adjacent to Research Triangle Park in Durham. The portfolio was 94 percent leased at the time of sale. The buildings feature a STEM ecosystem with buildouts and amenities including fitness centers, outdoor amenity space and lounges. Scot Humphrey, Ryan Clutter, Chris Norvell, Coleman Benedict and Zack Drozda of JLL represented the seller, Bain Capital Real Estate, in the transaction. The team also procured the buyer, an affiliate of Longfellow Strategic Value Fund LLC. Longfellow is developing the nearby Durham Innovation District, which upon completion will include 1.3 million square feet of office space, 60,000 square feet of retail space, 250,000 square feet of residential space and 115,000 square feet of lab space.

August 2, 2019

Healthcare Leasing Activity Life Sciences Massachusetts Northeast

BioTech Firm to Open 108,000 SF Facility in Metro Boston

by Taylor Williams June 25, 2019

WALTHAM, MASS. — ElevateBio, a biotech firm that specializes in gene therapy and development, will open a 108,000-square-foot office and lab space in Waltham, a western suburb of Boston. The facility will be located at 200 Smith Street in a former U.S. Post Office facility that was recently transformed into a 430,000-square-foot life sciences building. Anchor Line Partners LLC and Northwood Investors led the redevelopment project. ElevateBio’s new facility is expected to open in May 2020.

June 25, 2019

Acquisitions Healthcare Life Sciences Massachusetts Northeast Office

Harrison Street Acquires 676,917 SF Life Sciences Property Near MIT

by Taylor Williams May 21, 2019

CAMBRIDGE, MASS. — Chicago-based investment management firm Harrison Street has acquired Osborn Triangle, a 676,917-square-foot life sciences property situated adjacent to the Massachusetts Institute of Technology (MIT) campus in Cambridge. The complex encompasses three buildings, all of which were either recently built or renovated. The sale included a 650-space parking garage. Harrison Street partnered with Bulfinch Cos., a subsidiary of MIT that retains a partial interest in the property, for the acquisition. Osborn Triangle was fully leased at the time of sale to seven tenants, including anchors Pfizer, Novartis International AG and LabCentral, an incubator for life science and biotech startups. MIT will retain long-term ownership of the land. The sales price was not disclosed.

May 21, 2019

Civic Development Life Sciences New York Northeast Office

Janus Property Breaks Ground on 350,000 SF Life Sciences Building in West Harlem

by Taylor Williams May 13, 2019

NEW YORK CITY — Janus Property Co., a developer and manager of residential and mixed-use properties, has broken ground on the Taystee Lab Building, a 350,000-square-foot life sciences property in West Harlem. The 11-story building, located at the site of the former Taystee bread bakery, will be marketed to firms in the life sciences, technology, academic, and arts sectors. Specific features will include floor plates ranging in size from 36,000 square feet at the base to 15,000 square feet at the penthouse level, floor-to-ceiling glass and 20,000 square feet of outdoor space. Designed by architecture firms LevenBetts and SLCE, the project is expected to be complete by late 2020.

May 13, 2019

Lonza-Viral-Therapy-Facility-Pearland-Texas

Acquisitions Healthcare Life Sciences Texas

Zeller Acquires 276,770 SF Biotech Facility in Metro Houston

by Taylor Williams April 12, 2018

PEARLAND, TEXAS — Zeller Realty Group, a Chicago-based development and investment firm, has acquired a 276,770-square-foot biotechnology facility in Pearland, a southern suburb of Houston. Completed in 2017, the facility is located approximately eight miles south of The Texas Medical Center. The property was fully leased at the time of sale to Lonza America Inc., a Houston-based subsidiary of Swiss pharmaceutical company Lonza Group AG. Jeff Hollinden and Cameron Cureton of HFF represented the buyer and the seller, Pinchal & Co., in the sale and arranged acquisition financing through Bank of Texas.

April 12, 2018

Georgia Leasing Activity Life Sciences Office Southeast

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

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