Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn. After carefully listening to your vision, we customize each process to deliver the best results that match your checklist of goals. The largest investment sales were in the Boston market, which had multiple billion-dollar-plus transactions, in 2021. Caitlin approaches each clients needs and challenges with enthusiasm, working diligently to develop a holistic understanding of their requirements. Evan Gallagher: The long-term view for the life science ecosystem remains really strong, but demand has dropped. Hire a team that has a proven track record of success. 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. 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. 11/19/2020 - King Street plans $500M biomanufacturing campus in Devens. Twitter Putting Majority of NYC Offices Up for Sublease. Kim is an innovative problem-solver with a proven track record of success, said Evan Gallagher, Executive Vice President of Colliers Life Science Practice. So back to my barbell comment earlier, it has been core or development. Note you are now viewing the Colliers United States website. 12/03/2020 - Despite development slowdown, the state's life science industry keeps on building. As more projects deliver and companies set up shop, the market will solidify its status as the nations leading biotechnology hub. 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. IPO numbers were off the charts, VC funding set new highs, and NIH grants increased, all creating unprecedented demand for life science properties. 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. sophisticated projects. 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. 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. Joining Cole in representing IQHQ were Executive Vice President Greg Klemmer and Assistant Vice President Tim Allen. Combined meetings between brokerage members as well as representatives from other service lines increases project transparency and results in opportunity for creative collaboration by all. Colliers announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. Any recent deals you could share with us? Holmes Named Leasing Agent for 58,500-SF Flex Manufacturing/Warehouse in Haverhill. Esta web utiliza cookies para que podamos ofrecerte la mejor experiencia de usuario posible. Here are key takeaways on the : He leadsteam of six professional who specialize in local brokerage and account portfolio management. ensure on-time and under-budget delivery of the most Copyright 2022 Colliers International Terms of Use Which submarkets are hot spots of tenant activity, and how might that have changed over the past few years? 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. 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. 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. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. "Residential had that . 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). 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. Thats not to say there havent been some headwinds: Boston-based companies such as Kaleido Biosciences and Yumanity Therapeutics laid off workers in recent months, and availabilities in some submarkets ticked up in the first quarter due to sublease space returning to the market. Terms of Use The inventory in Cambridge is mostly controlled by long-term holders, so the buyers saw this as an opportunity to plant a flag in the most core life science market in the world. 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. Open navigation menu Whether you are looking to lease or invest in a rese It traded for around $2,000 a square foot, record pricing during this time of incredible interest rate volatility. According to Executive Vice President Curtis Cole ofColliers Life Science Practice team, IQHQs vision for Innovation Park is truly flourishing. An unexpected error has occurred. 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. 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. In my role as Executive Managing Director and Market Leader of Colliers Boston, I am responsible for the strategic direction and performance of Colliers Internationals Boston office, comprising more than 130 real estate professionals who provide clients with best-in-class service for landlord representation, tenant advisory, corporate solutions, capital markets, development and consulting, real estate management, valuation and appraisal, and marketing and research. David is a leader in several practice groups, including Financial & Insurance Services, Life Science Practice Group, and the Education Services Group. 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. Also, areas like Watertown, Alewife and Waltham are hot submarkets due to their access to the city and the suburbs and great parking. The future pipeline of new development is concentrated in Boston and the San Francisco Bay Area, suggesting that capital will continue to target the biggest markets in the U.S. Major life science leases are getting done in Boston. 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. About Knowledge Leader. New deliveries in 2022 will open the door for more absorption. Our reputation for delivering results spans more than 135 years. Early-to-mid-stage companies are scaling up and seeking bigger real estate footprints. Our reputation for delivering results spans more than 135 years. Throughout the pandemic, the life sciences sector has been the Superman of commercial real estate, growing far beyond the sectors pre-COVID performance. She provides exemplary consultative services to landlord and tenant clients in the fast-growing life science and technology industries. 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. Whether due to reduced space needs stemming from weakened macroeconomic conditions (e.g. Caitlin joined Colliers in 2021, serving as an Advisor on the Boston Life Science Practice Team. In 2020 Boston and San Diego led the country in positive net absorption, at 1.2 million square feetand 405,000 square feet, respectively. What strategies are popular with investors entering this life science market? So, part of it is the slowdown in the IPO market. Scribd is the world's largest social reading and publishing site. A 14-year professional in the Life Science industry, Michael Anderstrom represents clients the sale or leasing of lab, cleanroom manufacturing, and flex space. 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. Read the latest edition of the Commercial Observer online! His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. Barry will call on her deep experience and knowledge of the sector and the . Life science companies and researchers should focus on what they do best: changing the world one discovery at a time. EG: We do a fair amount of tenant representation. Im pleased to join the Colliers team, which has repeatedly proven itself one of the most talented in the area.. 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. Utilizamos cookies para ofrecerte la mejor experiencia en nuestra web. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. The campus also provides ample opportunity to develop up to 180,000 SF of new life science product. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. 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. Broder Acquires $46.5M Life Science Campus Arranged by Colliers People credit this to two things. 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. The well-established hubs continue to draw strong interest and expansion. Our Colliers life sciences expert will work with you to find the right capacity and environment to maximize efficiencies and minimize costs. About Knowledge Leader, They raised a total of $21.2 billion at IPO, for a. He is an executivevice president and shareholder in the firm. 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. MS: We just closed a deal in Cambridge called Blackstone Science Square. The life science industry shattered growth records in 2021. Cambridge, MA Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. Partnership provides key workforce development in Philadelphias emerging life science market. What have you been seeing over the past few years in Boston life sciences? Copyright 2022 Colliers International A strong advisor and negotiator on behalf of his clients both locally and nationally, Mr. Gallagher works with a balanced level of both patience and persistence. Both projects were built to LEED Platinum standards and have won numerous design awards. Olivia is a Client Services Coordinator on the Life Science Practice Team in Boston. Jumbo Capital and Apollo Group have obtained $57.7 million in financing from Cambridge Savings Bank to fund a planned conversion of a Boston-area office property into a life sciences-oriented manufacturing facility. 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. BOSTON- Basic fundamentals are healthy in the Boston life science market, which by far has the nation's largest pipeline of potential life science projects, according to a report by Colliers. 2021, serving as an Advisor on the: He leadsteam of six professional who in! Most talented in the Boston Region for space, according to colliers boston life science Vice President Curtis Cole ofColliers science! 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