Esto significa que cada vez que visites esta web tendrs que activar o desactivar las cookies de nuevo. We identify sites, buildings and spaces for our research lab and drug manufacturing clients and assist building owners and developers to best position their assets to secure life sciences tenants. Throughout the pandemic, the life sciences sector has been the Superman of commercial real estate, growing far beyond the sectors pre-COVID performance. They have invested significant capital into what was already first-class space with the goal of making it a life science destination for multiple GMP users all under one roof.. While that encompasses 45% of all volume in those asset types, it doesnt include land purchases. He also serves as the National Practice Leader of . These factors are driving tremendous growth in both established life science hubs and numerous other markets. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. For now, the Boston metropolitan area, including Cambridge, is slightly smaller with about 32 million square feet (3 million square meters) of life-sciences space, compared with almost 34 million . Kim is an innovative problem-solver with a proven track record of success, said Evan Gallagher, Executive Vice President of Colliers Life Science Practice. This facility will play a central role in enabling us to advance our mission to realize the full promise of viral immunotherapy for cancer patients.. Breakthrough Properties first quarter completion of The 105 added 260,000 square feet at the Seaport, fully leased by CRISPR. Partnership provides key workforce development in Philadelphias emerging life science market. Note you are now viewing the Colliers United States website. Please try again. Both projects were built to LEED Platinum standards and have won numerous design awards. Barry brings to Colliers more than 15 years of biotech-sector experience, including both scientific research as well as management and operations. 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. This industry is still in the early stages of growth in most markets. These honorees will recognized on April 14, 2022 during a breakfast award ceremony at the Newton Marriott Hotel in Newton, MA. Investors poured record venture capital (VC) funding into the life science industry in 2021. Joe is a Healthcare Fellow and serves on Colliers National Healthcare Services and Life Sciences Steering Committees. 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. People credit this to two things. Additionally, he has represented institutional ownership in the disposition and acquisition of land, buildings, build-to-suits and large-scale lease transactions. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. 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. Notably, Broder has recently completed two significant projects in Chicago and the Berkshires. Barry will call on her deep experience and knowledge of the sector and the . Oncorus was represented by JLLs Peter Bekerian in the transaction. Apartment market vacancies are healthy, ending 2022 at 5.3%. Our acquisition and redesign of Innovation Park supports IQHQs vision to provide premier office, lab and manufacturing facilities for companies such as Oncorus, which will support the increasing demand for medical innovation and life science space in Greater Boston, said Doug Cuff, Vice President at IQHQ. Colliers announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. Our reputation for delivering results spans more than 135 years. 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. 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. Seaport also continues to be hot. Boston, MA (617) 330-8000 Website @ColliersIntl Overview COLLIERS INTERNATIONAL - COMPANY OVERVIEW Colliers International has been an active participant in the Life Science/Biotechology real estate markets since the early 1980s when the biotechnology industry started to take shape in Cambridge. John Carroll, III joined Colliers International in 1993. Prior to joining Colliers in 2008, he worked in similar capacities at competitors CBRE and C&W. Note you are now viewing the Colliers United States website. "Residential had that . In one of the metros biggest announcements of the first quarter, the pharma giant Eli Lilly revealed plans to launch the Lilly Institute for Genetic Medicine, a $700 million investment, to be housed in a new 334,000-square-foot space at 15 Necco Street in the Seaport, due in 2024. increased borrowing costs, lower company valuations) or from fewer workers in the office, in 2022 many firms offered sublease space or downsized footprints in new leases. There, I was exposed to many different sides of the day-to-day operations, giving me an invaluable education in and appreciation for what drives business decisions. 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. Vacancies in most markets are incredibly low, many below 5%, indicating more space is needed for expanding tenants. From a scale perspective, the San Francisco Bay Area and Boston rank first and second, respectively. His background in ISO 13485, cGMP, cleanrooms, and FDA Regulatory and Quality requirements has proved valuable expertise for both Medical Device and Pharma business leaders seeking a flexible and compliant real estate footprint, and Landlords requiring specialized knowledge to list and market Life Science properties to the industry. Conversions are taking place across the country, but the scale at which they are growing in Boston is second to none. Phone: 646.660.8644 Colliers (NASDAQ and TSX: CIGI), the leading global commercial real estate services firm, announces it has appointed Kim Barry as Senior Vice President in the groups rapidly growing Boston Life Science Practice. Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. Those are real needle movers. Growth is happening in the Washington, D.C./Maryland market, as well as in Seattle, Chicago, and New York City. 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. Terms of Use His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. Hear from Matthew Hewitt, Executive Director at Charles Rivers Labs on Philadelphia's cell and gene therapy life sciences, and the Multiply Labs consortium. Colliers (NASDAQ and TSX: CIGI), the leading global commercial real estate services firm, announces it has appointed Kim Barry as Senior Vice President in the group's rapidly growing Boston Life Science Practice. He serves as the Director of Life Sciences team and is well versed in all aspects of designing and constructing laboratory and GMP manufacturing facilities on behalf of his clients. He synthesizes and interprets a variety of data and information to stay ahead of trends that put our clients in an optimal position to make informed decisions. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. These are the words that come to mind when describing the current life sciences landscape. For many of the same reasons that IQHQ was originally attracted to Innovation Park from an acquisition standpoint first-class life science infrastructure, high quality finishes, accessibility and proximity to Greater Boston biotech clusters Oncorus also viewed the building as a premier location and facility for a clinical manufacturing outpost to their Cambridge HQ. 25,181 SF sublease available on the 23rd floor of 60 State Street, Boston, MA. Available Immediately Full Floor Opportunity | 23rd Floor Term through September 2030 Fully Furni The Colliers team led by Managing Directors Frank Petz, along with Managing Director Matt Sherry, Executive Vice President Jeanne Pinado, Senior Advisor John Nasca, and Financial Analyst Brooke Howard, exclusively marketed the property and completed the sale transaction to Broder, a Boston-based developer. Boston Has the Largest Potential Pipeline of Life Science Space in the Vertex Pharmaceuticals to occupy Related Beals planned development of 22 Drydock Avenue, Boylston Properties Launches Property Management Arm, Cresa Publishes Data-Driven Insights & Predictions for Greater Boston Real Estate Markets, R.W. But now, with everyday life struggling to return to something resembling normal, life sciences is showing that every Superman has a kryptonite in this case, a potentially saturated level of demand. Skip to main content Skip to footer Note you are now viewing the Colliers United States website. 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,. The Urban Brokerage Team focuses on tenant advisory and landlord representation assignments within Boston's dynamic downtown and peripheral urban markets. 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. Colliers arranged the financing on 30 Dan Road as well as the $21 million sale of the Canton, Massachusetts property. Note you are now viewing the Colliers United States website. Chris Stickney serves as the Managing Director of Colliers' Boston Office which provides valuation and advisory services throughout New England. John has represented developers, institutions and companies in the leasing, sale, disposition and acquisition of real estate in the Greater Boston Metropolitan area. He leadsteam of six professional who specialize in local brokerage and account portfolio management. Executive Vice President | Healthcare and Life Sciences, Joe joined Colliers International in 2012 to lead and grow Colliers Office Brokerage Division. With an experienced property management team on-hand, Broder will self-manage the existing properties while pursuing the best development path for the campus with neighborhood stakeholders. These qualities will allow the company to deliver optimal solutions to its valued clients by challenging how its employees think and work on a daily basis. Im pleased to join the Colliers team, which has repeatedly proven itself one of the most talented in the area.. Were thrilled that we will be developing a state-of-the-art clinical manufacturing facility at Innovation Park in Andover, said Steve Harbin, Chief Operations Officer and Chief of Staff at Oncorus. Its a capital markets issue where borrowing costs have changed, which is impacting underwriting and has translated into, in many instances, a pretty significant bid-ask spread between buyers and sellers. Learn more! Which submarkets are hot spots of tenant activity, and how might that have changed over the past few years? This deal shows the realized value from a lab conversion and the push of institutional capital to this asset class. 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. Kim is an excellent fit for our ever-evolving Boston Life Science Practice and were thrilled to welcome her., The Life Science sector in Boston is one of the fastest growing sectors in the market with the largest pipeline of potential space in the country, said Barry. Copyright 2022 Colliers International Read the interview. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. Please try again. The only real option for new entrants over the past few years has been to convert or build new, and thats not for everybody. David and wife Kristy met at the University of Illinois, married in 2001, and are blessed withthree teenage sons. Company News Investor Relations About ESG Caitlin approaches each clients needs and challenges with enthusiasm, working diligently to develop a holistic understanding of their requirements. The Shifting Nature of Boston Life Sciences: Shifting Demand, New Dominant Submarkets By Colliers October 11, 2022 8:00 am reprints gmcnicholl Throughout the pandemic, the life sciences sector has been the Superman of commercial real estate, growing far beyond the sector's pre-COVID performance. MS: We just closed a deal in Cambridge called Blackstone Science Square. In addition, he has completed over 200 tenant representation transactions totaling more than 2 million square feet. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in Framingham. The life science market had an IPO once every three days in 2020, for a total valuation of $90.3 billion. Hire a team that has a proven track record of success. Colliers has a strong presence in each of the major biopharmaceutical clusters and emerging life sciences markets in the United States, Canada, Europe and Asia. Colliers Inks 88,184-SF Life Science Deal in Andover, Connolly Brothers Receives Silver Award from DBIA New England, SGA Celebrates 30 Years of Design Excellence, New England Ice Cream Corporation Leased a 15,571-SF Industrial Building. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. So, we have also seen a decrease in general volume, and transactions have been more difficult to complete. He focuses his efforts on supporting tenants within the Life Science, Technology, Legal, Educational and Financial industries. 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. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. 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. Evan, what types of companies are active in the Boston leasing market for life sciences? Originally from South Boston, Barry lives in North Reading with her husband and five-year old son. The top 12 markets have a combined 13.8 million square feet underway. Our collaboration with your internal and external vendor teams for design and engineering is critical to your and our ability to set realistic expectations for budgets, occupancy, and final validation. Open navigation menu Alongside my partners on the Southwest Brokerage team, I helped clients make highly informed decisions in an increasingly dynamic investment and leasing market. Copyright 2022 Colliers International Thats empowering to them and exciting for the biotech community. Freudenheim Partners Arranges 30,000 SF Relocation and Expansion for Cyprotex, Professional Development Institute: Effective Communication Igniting Your Competitive Edge, Commercial Property Acquisition and Sale Due Diligence: Key Issues and Best Practices, Boston Real Estate Timess Outstanding Women of 2023, CBRE Arranges Sale of 246-Unit Halstead Milford, AGC MA announces 2023 BWIC Inspire Awards Winners, Arcadis DPS Group Welcomes Chris Oldham as Director of Project Management, Chapman Construction Completes LEED Renovation for Boston Universitys Student Health Services. In a world of constant news and a sea of information, Colliers International | Boston's team of market experts develops and hones the insight, actionable analysis and market intelligence you need to navigate the constantly changing dynamics of the Greater Boston market. Through my work on local, regional and national site selection assignments, I havedeveloped a firm grasp of the rigorous process required to meet the key search criteria of my clients. We did a big Eli Lilly deal there, and CRISPR and Vertex are there as well. When not enjoying watching her son play soccer and swim, Barry indulges her love of travel and cooking. Following a 132-year period operating as Meredith & Grew, the company embraced a new chapter when Colliers International purchased an 80% interest in the company, allowing the remaining 20% to be locally owned and managed. IQHQ acquired the 211,940-SF life science campus from owner-occupier, Eisai, Inc., back in early 2020, and in partnership withColliershas completed leases to UMASS and Ora Clinical in addition to this latest signing. Our reputation for delivering results spans more than 135 years. An unexpected error has occurred. 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