Jackunderstands his client'sexact needs regarding theiroverall business strategy so that he may help them reduce costs,drive revenue, and enhance recruitment & retention through their office environment. So back to my barbell comment earlier, it has been core or development. Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. Jack Blumenfeld is an Associate specializing in Class A Office/Flex/Life Science tenant representation and investments inthe UTC San Diego office of Colliers International. Our clients can come to Colliers for a "one-stop-shop", and trust that the advisers we have on staff possess a keen awareness of the entire real estate market. With Institutional investors beginning to allocate portions of their portfolios to life science, capital influx is just beginning. Any recent deals you could share with us? Read more about the U.S. Life Science Report: First Quarter 2022 report. Matt, lets talk about investment sales in the region. Goldin Solutionsfor Colliers He is also a founding member of the firm's Tenant Advisory Councilconsisting of the firm's Top 100 "Tenant Rep" brokers globally. Colliers International estimates that life-sciences projects under development or in planning will expand the sector in greater Boston to more than 60 million SF by the end of this decade.. sophisticated projects. 11/19/2020 - King Street plans $500M biomanufacturing campus in Devens. Those are real needle movers. Receive our weekly newsletter with the latest posts and insights. With a deep understanding of markets throughout the country, he provides a unique perspective on market dynamics across asset types and investment strategies, providing clients with tailored data and analytics to ultimately guide decision-making solutions. Joe is a Healthcare Fellow and serves on Colliers National Healthcare Services and Life Sciences Steering Committees. Growth is happening in the Washington, D.C./Maryland market, as well as in Seattle, Chicago, and New York City. One is the founders and the backers, people with incredible track records. That has changed. Chris Stickney serves as the Managing Director of Colliers' Boston Office which provides valuation and advisory services throughout New England. Read the latest edition of the Commercial Observer online! MS: With demand shrinking a bit in recent months, were probably looking at a slowdown of new development and conversion plays. Check out the content from some of our most recent events, including our January 10th40th Annual Trends In the Real Estate Market Seminar - Connecting the Dots with Colliers International. our team has the market knowledge and connections to managing director of investment sales for Colliers Boston, said at the brokerage's annual market outlook forum this week. Colliers Life Sciences Review - Boston - Free download as PDF File (.pdf), Text File (.txt) or read online for free. Life science means different things to different investors: markets vary in product type, specialization, and sophistication. All Rights Reserved. Investors poured record venture capital (VC) funding into the life science industry in 2021. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in . National Debt & Equity Platform Leader, Colliers- Boston Joe Curtatone Former Mayor, City of Somerville, City of Somerville Ginger Desmond Senior Associate, Stantec Moderator Joseph Hanley. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. Joes background in architecture, real estate development and financial analysis provides clients with an experienced professional and strategic leader who integrates complex factors to create successful results for clients. La informacin de las cookies se almacena en tu navegador y realiza funciones tales como reconocerte cuando vuelves a nuestra web o ayudar a nuestro equipo a comprender qu secciones de la web encuentras ms interesantes y tiles. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. A 14-year professional in the Life Science industry, Michael Anderstrom represents clients the sale or leasing of lab, cleanroom manufacturing, and flex space. Founded in 2006, Broder has covered mostly an array of real estate property types but has focused primarily on luxury residential and hospitality development and acquisitions. Privacy Policy Utilizamos cookies para ofrecerte la mejor experiencia en nuestra web. Eight Boston Architecture Firms Make to the List of Top 50 Market Basket Supermarket Coming to Maynard Crossing, The Top 10 Commercial Real Estate Developers of Boston in 2020, Vertex Recommends Rejection of Mini-Tender Offer From TRC Capital Investment Corporation. The other is, theyre in an acquisition mode, looking to acquire great science. Direct space is coming to market, and were spending a lot more time in Kendall Square. Note you are now viewing the Colliers United States website. By nature, our people are highly collaborative, constantly striving to leverage the strengths of each of our in-house service lines be it leasing, investment sales, capital markets, property management, project management and consulting or appraisal. Theyre taking those track records and having success in securing large financing rounds. My network of a wide variety of trusted advisors within the industry facilitates a regular flow of information about life science real estate trends, pricing, and comparable data for leasing and sales transactions. He is an executivevice president and shareholder in the firm. My primaryfocus is the Class Asubmarkets: UTC, Downtown CBD, Carmel Valley, Sorrento Mesa, Sorrento Valley, Del Mar, Torrey Pines, Solana Beach, Carlsbad, Kearny Mesa, andMission Valley. Our Colliers life sciences expert will work with you to find the right capacity and environment to maximize efficiencies and minimize costs. Learn more! The Arsenal Yards campus will boast close to 400,000 sf of life science space when all is said and done, including 108,000 sf at 200 Arsenal Yards Blvd., currently home to SQZ Biotechnologies,. Boston and the San Francisco Bay Area led the country in absorption, inventory, and VC funding, of which nearly 60% made its way to those two markets, per PitchBook. Colliers arranged the financing on 30 Dan Road as well as the $21 million sale of the Canton, Massachusetts property. Stay ahead with industry-leading research. We have the data and insight you need to really know the Boston market and beyond. Whether due to reduced space needs stemming from weakened macroeconomic conditions (e.g. Boston, for one, had $5.7 billion in investment in existing office, lab, and industrial/flex buildings last year. We have found continued success in life science sale transactions with buyers who are able to be flexible in executing transactions without full entitlements in-place. Dynamic. These factors are driving tremendous growth in both established life science hubs and numerous other markets. Mr. Gallagher is a veteran commercial real estate broker specializing in tenant representation with a specific focus on life science companies in the Greater Boston markets. Kim is an innovative problem-solver with a proven track record of success, said Evan Gallagher, Executive Vice President of Colliers Life Science Practice. Thats empowering to them and exciting for the biotech community. Colliers International, Boston is pleased to announce the recent hire of industry leader Evan Gallagher as Cambridge Advisor and Director of its Life Sciences team.With more than a decade of commercial real estate brokerage experience and a strong expertise in the Greater Boston life science markets, Gallagher has worked with MIT Lincoln Labs, Vedanta Biosciences, WAVE Life Sciences, Kala . Barry will call on her deep experience and knowledge of the sector and the region to help industry-leading life science companies find and develop space that meets unique business and operational requirements in the ultra-competitive Boston market. Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. Barry moved from the bench, focusing on laboratory and facility management ,which is where her interest in the commercial real estate side of the Life Science industry blossomed. Please try again. Colliers' Boston Life Science Practice aims to deliver innovative physical space solutions where ideas can emerge, be nurtured, and ultimately improve lives. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. With a net of more than two million square feet of additional occupied space in 2022, the metros life sciences sector expanded for the ninth consecutive year. To make sure that our team can deliver insightful and thoughtful life science real estate strategies to our clients, regardless of company size and the challenges they may face in entering and exiting the clinic successfully. Oncorus, whose R&D headquarters will remain in Cambridge, will occupy Innovation Park at 4 Corporate Drive as an additional location for high-quality GMP clinical manufacturing space. About Knowledge Leader. We are incredibly excited about leasing momentum and the establishment of a growing cluster in Bostons northern suburbs., Although the campus was previously occupied by a single user with Eisai, its layout is highly conducive and versatile for multi-tenanting. It seems we cant find what youre looking for. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. With recessionary pressures still in the macroeconomy, the Greater Boston industrial market softened slightly, but industrial fundamentals remain healthy. Both projects were built to LEED Platinum standards and have won numerous design awards. Oncorus was represented by JLLs Peter Bekerian in the transaction. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. Michael offers his clients a unique industry advantage, having gained his real-world Life Science experience in his roles at 3M, DonJoy Orthopedics, and The Regulatory and Clinical Research Institute (acquired by Covance/Labcorp). Hire a team that has a proven track record of success. Weve seen established and well-leased product in core locations, where the buyers have typically had a strong foothold in the market for years, and weve seen a lot of development and conversion plays. Major life science leases are getting done in Boston. Navigating this quickly-shifting sector requires deep expertise and a team of committed professionals, which Colliers has plenty of. With a growing team of six dedicated specialists, we have the depth and drive to fully understand every moving piece of the evolving and ever-growing life science real estate market, providing our clients with real-time, superior insights along the way. Myknowledge of market conditions and influences in the life sciences supports my ability to be creative in structuring the financial details of both lease and purchase transactions. The overall availability rate in the metro ticked up to 2.4% in the first quarter due to tenants returning space to the market and some new space not yet being fully committed. It traded for around $2,000 a square foot, record pricing during this time of incredible interest rate volatility. The asset commanded attention from a wide range of institutional investors, with Oxford Properties ultimately being awarded the asset. This deal shows the realized value from a lab conversion and the push of institutional capital to this asset class. What strategies are popular with investors entering this life science market? What has happened to rents in the region since the start of the pandemic? Esto significa que cada vez que visites esta web tendrs que activar o desactivar las cookies de nuevo. He is currently assisting in multiple transactions in the majority ofSan Diego County markets as well as around the United States. EG: We do a fair amount of tenant representation. Perhaps searching can help. Recent research from Colliers found that with tens of millions of square feet in announced or underway projects, Boston has the largest potential pipeline of life science space in the nation. At the same time, he promotes the Colliers brand via best-in-class research reports, weekly insight posts, thought leadership, and contributions to numerous panels, media outlets, and industry events. Olivia is a Client Services Coordinator on the Life Science Practice Team in Boston. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. Holmes Sells 165 Flagship Drive in North Andover for $4,650,000. Evan Gallagher: The long-term view for the life science ecosystem remains really strong, but demand has dropped. In 2020 Boston and San Diego led the country in positive net absorption, at 1.2 million square feetand 405,000 square feet, respectively. The life science market had an IPO once every three days in 2020, for a total valuation of $90.3 billion. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. He also serves as the National Practice Leader of . He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. Advances in technology and science put drug discovery on a level never before seen. The latest Tweets from Colliers Life Science | Boston (@LifeSciColliers). Additionally, he has represented institutional ownership in the disposition and acquisition of land, buildings, build-to-suits and large-scale lease transactions. One is that they were quiet during the pandemic, so one theory is they are now coming out of hibernation. Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. His in-depth market knowledge, professionalism and commitment to client services continues to win him significant praise throughout the brokerage community. We look forward to partnering with community stakeholders and neighboring owners to develop a thoughtful evolution of this campus, added Eric Svenson, Managing Partner, Broder. Our reputation for delivering results spans more than 135 years. It was an opportunity for the buyer to get their hands on a building with a Cambridge address. The top 12 markets have a combined 13.8 million square feet underway. Whether you are looking to lease, purchase, build or rationalize capacity youll have a team with detailed local market knowledge, industry expertise and national connectivity to expedite even the most sophisticated projects. As the National Leader of Colliers Global Life Science Practice Group, I bring 43 years of commercial real estate experience and 22 years of experience focusing on life science real estate. Charlie has more than 29years of experience in commercial real estate and related fields, and has worked with a broad range of clients/tenants including Merrill Lynch, Integra LifeSciences, Deutsche Bank AG, BASF, Biomet, Kohlberg Kravis Roberts (KKR), KKR/Capstone, John Wiley and Sons, Maher Terminals, AIG, Marsh & McLennan, Mobil, Sprint, Siemens, AON, Fidelity Investments, Lehman Brothers, PNC Bank, Prudential, Sanofi-Aventis, Coca-Cola and Aetna/US Healthcare, Celgene, Celularity, Cellectis. Colliers announces it has secured an 81,293 square-foot sublease on behalf of Tegra Medical at 9 Forge Parkway in Franklin. He leadsteam of six professional who specialize in local brokerage and account portfolio management. Alongside my partners on the Southwest Brokerage team, I helped clients make highly informed decisions in an increasingly dynamic investment and leasing market. We were very impressed by Broders ability to uniquely comprehend and appreciate the value of life science at this instrumental location, Top 25 U.S. Industrial & Logistics Market | Winter 2022. Despite the name and logo change, the Meredith & Grew reputation, principles and values still exist at the companys core. 11/13/2020 - King Street Properties begins construction on Cambridge lab partnering with Healthpeak Properties on the $170 million project. Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. Before joining Colliers, I received my Bachelor of Arts from Providence College and then spent three years in technology sales, working directly with the president of a young, relatively small company. Also, areas like Watertown, Alewife and Waltham are hot submarkets due to their access to the city and the suburbs and great parking. I am passionate about my mission to to champion a Colliers Boston that is grounded in integrity, teamwork, open communication, diversity and inclusion, and a client first approach. Broder Acquires $46.5M Life Science Campus Arranged by Colliers As compared to some other major metropolitan areas, geographically speaking, Boston and the surrounding suburban outposts make up a relatively small, densely populated, developed footprint with some of the most far-reaching suburban towns being less than 35 miles from CBD Boston. Whether you are looking to lease or invest in a rese Prior to joining Colliers, Barry also held roles as a scientist at several local biotech companies with experience at the bench in both R&D and GMP laboratories. WATERTOWN, MA, October 8, 2021 Colliers (NASDAQ and TSX: CIGI) announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. Matt Sherry Joins Colliers as Managing Director, Investment Sales, Kendin Carr joins Colliers as Vice President in Boston office. We know real estate and we know Boston. Please try again. Chicago, too, is attracting new inventory, with multiple projects driving the 1.2 million square feet of development (20% of inventory). Our U.S. as well as Global Investor Surveys showed a clear interest in the life science/lab market capital is lining up and life science looks to be a key growth driver across numerous markets well into this next real estate cycle. Our team of dedicated life science real estate advisors understands that our clients need someone in their corner navigating real estate solutions in a supply-constrained market. Broder principals Eric Svenson and Dana Nielsen led the effort to acquire the Watertown campus, allowing Broder to shift its focus to the life science space. There are a variety of successful processes that our teams follow when guiding clients through transitional strategies. Note you are now viewing the Colliers United States website. Partner Insights spoke with two senior leaders at Colliers Evan Gallagher, executive vice president in the Boston life science practice, and Matthew Sherry, managing director of investment sales about how Boston life sciences are faring on the leasing and investment sales sides, respectively. Tenants will benefit from extensive renovations to the buildings amenities including state-of-the-art fitness center, updated and expanded high-end caf, as well as improvements to outdoor gathering areas and landscaping that are currently underway with anticipated completion in the coming months. Teams follow when guiding clients through transitional strategies knowledge, professionalism and commitment Client... 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