Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. Copyright 2022 Colliers International Note you are now viewing the Colliers United States website. Colliers announces it has secured an 81,293 square-foot sublease on behalf of Tegra Medical at 9 Forge Parkway in Franklin. 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. Earlier in his career, David also workedon Capitol Hill developing a specialty in economic incentives and later as a site selection consultant at Arthur Andersen LLP before earning his MBA and focusing on corporate real estate advisory and brokerage services. 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. Terms of Use About Knowledge Leader. 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. Caitlin joined Colliers in 2021, serving as an Advisor on the Boston Life Science Practice Team. 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. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. He also serves as the National Practice Leader of . Mr. Cole joined the Colliers International Urban Brokerage team in 2018. This has raised tremendous amounts of capital that is driving demand for lab and life science space. Whether you are looking to lease or invest in a rese Colliers life sciences experts are a network of real estate advisors across North America working in primary, secondary and emerging life science clusters. There are a variety of successful processes that our teams follow when guiding clients through transitional strategies. An unexpected error has occurred. He leadsteam of six professional who specialize in local brokerage and account portfolio management. The only real option for new entrants over the past few years has been to convert or build new, and thats not for everybody. They have completed thousands of transactions including renewals, new leases, build to suits, purchases and salestransactions. 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. sophisticated projects. As a result, we place incredible emphasis on our people being knowledgeable about Greater Boston as a whole, since each of its regions and even product types are increasingly interconnected. Cambridge, MA Colliers Life Sciences Review - Boston - Free download as PDF File (.pdf), Text File (.txt) or read online for free. 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. 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. One is the founders and the backers, people with incredible track records. Twitter Putting Majority of NYC Offices Up for Sublease. 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. Those who end up getting strong data will have no issues raising new rounds of financing. Las cookies estrictamente necesarias tiene que activarse siempre para que podamos guardar tus preferencias de ajustes de cookies. Please try again. MS: The last few years have seen a barbell effect. Overall, the results for 2022 were mixed as the . 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. center or life sciences property, or you need project Terms of Use When were putting surveys together for clients who need anywhere from 20,000 to 100,000 square feet, they have a choice now. 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.. My acquired knowledge in life science work has been on both the landlord (Wexford Science & Technology) and the tenant side within the industry. 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. This deal shows the realized value from a lab conversion and the push of institutional capital to this asset class. Additionally, he has represented institutional ownership in the disposition and acquisition of land, buildings, build-to-suits and large-scale lease transactions. Notably, Broder has recently completed two significant projects in Chicago and the Berkshires. 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. Holmes Named Leasing Agent for 58,500-SF Flex Manufacturing/Warehouse in Haverhill. 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 . As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. 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. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn. Learn more! 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. 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. 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. Jake Klein Early-to-mid-stage companies are scaling up and seeking bigger real estate footprints. Esta web utiliza cookies para que podamos ofrecerte la mejor experiencia de usuario posible. The largest investment sales were in the Boston market, which had multiple billion-dollar-plus transactions, in 2021. 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. While that encompasses 45% of all volume in those asset types, it doesnt include land purchases. David specializes in tenant representation for office, lab, industrial, retail, education and specialty facilities. Navigating this quickly-shifting sector requires deep expertise and a team of committed professionals, which Colliers has plenty of. 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. Broder Acquires $46.5M Life Science Campus Arranged by Colliers Groundbreaking. Oncorus was represented by JLLs Peter Bekerian in the transaction. It seems we cant find what youre looking for. 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. Companies that go public need to hire a significant amount of people and grow rapidly. 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. His comprehensive approach including assisting clients to identify an efficient spaceprogram; impartially surveyall viable properties;tenaciously negotiating favorableterms; and procuringarchiects, contractors andconsultants for implementation. 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. As more product is completed, liquidity should only increase. 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. John has represented developers, institutions and companies in the leasing, sale, disposition and acquisition of real estate in the Greater Boston Metropolitan area. Company News Investor Relations About ESG Stay ahead with industry-leading research. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in Framingham. Alongside my partners on the Southwest Brokerage team, I helped clients make highly informed decisions in an increasingly dynamic investment and leasing market. Growth is happening in the Washington, D.C./Maryland market, as well as in Seattle, Chicago, and New York City. 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. About 9.4 million square feet of life science space is under construction in Greater Boston, with another 52.3 million proposed, according to research from brokerage Colliers International. EG: Over the past 10 months, the number of IPOs here in Massachusetts dropped significantly. These factors are driving tremendous growth in both established life science hubs and numerous other markets. Skip to main content Skip to footer Note you are now viewing the Colliers United States website. Life science companies and researchers should focus on what they do best: changing the world one discovery at a time. Vacancies in most markets are incredibly low, many below 5%, indicating more space is needed for expanding tenants. With space availability below 2%, the space crunch has yet to abate. Landlords still have pricing power and rents may continue to expand. The property will also feature shared space for local biotech startups. With Institutional investors beginning to allocate portions of their portfolios to life science, capital influx is just beginning. 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. 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. Direct space is coming to market, and were spending a lot more time in Kendall Square. 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. Read more about the U.S. Life Science Report: First Quarter 2022 report. We know real estate and we know Boston. But there has definitely been a race to expand to satisfy any demand in the market. Having played an integral role in landmark transactions across the city, Massachusetts and New England as a whole, Meredith & Grew is ultimately the foundation of the companys long-term success, built upon exceptional service, unrivaled market knowledge, business acumen and a deep dedication to the community. 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. All Rights Reserved. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. 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 . 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. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. 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. Utilizamos cookies para ofrecerte la mejor experiencia en nuestra web. Note you are now viewing the Colliers United States website. 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. Dynamic. Here are key takeaways on the : So back to my barbell comment earlier, it has been core or development. 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. An unexpected error has occurred. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. Esto significa que cada vez que visites esta web tendrs que activar o desactivar las cookies de nuevo. 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. 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. Revolutionary. Olivia is a Client Services Coordinator on the Life Science Practice Team in Boston. The life science industry shattered growth records in 2021. 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, CBRE New England Brokers Three Leases, Totaling 75,695 SF in Chelmsford. Major life science leases are getting done in Boston. A 14-year professional in the Life Science industry, Michael Anderstrom represents clients the sale or leasing of lab, cleanroom manufacturing, and flex space. We are part of its history and are deeply dedicated to the community and to serving you. IPOs also set new highs. Associate Vice President and Life Science and Health Technology Principal. David is a leader in several practice groups, including Financial & Insurance Services, Life Science Practice Group, and the Education Services Group. OSSD specializes in local, regional and national office and industrialtenants around the Globe. As more projects deliver and companies set up shop, the market will solidify its status as the nations leading biotechnology hub. Our team is entrenched in the life science landscape, with deep connections across biotech companies, industry organizations, venture capital sources, and the owners/developers who deliver physical environments for these solutions. Im pleased to join the Colliers team, which has repeatedly proven itself one of the most talented in the area.. 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. Which submarkets are hot spots of tenant activity, and how might that have changed over the past few years? From research and development lab product to cGMP manufacturing spaces, tenant and investor demand has soared, mostly in the nations largest and most well-established life science hubs. He also oversaw an 8.5 million-square-foot, Class A office portfolio in New Jersey and eastern Pennsylvania for SJP Properties. Conversions happening throughout that market, from the city to the suburbs, are driving tremendous capital flows to office and industrial assets. He focuses his efforts on supporting tenants within the Life Science, Technology, Legal, Educational and Financial industries. 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. Boston and San Francisco, the top two markets in the country, are, unsurprisingly, leading the U.S. in construction today, with 5.1 million square feet and 2.1 million square feet underway, respectively. But ultimately, the outlook for future absorption is positive. Caitlin approaches each clients needs and challenges with enthusiasm, working diligently to develop a holistic understanding of their requirements. 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. Please try again. Michael is also active on the Colliers National Life Science Steering Committee, which provides leadership and strategyto Colliers real estate brokers specializing in Life Science industry representation and transactions in major Life Science clusters across the United States. They took 88,000 square feet with Alexandria on the Arsenal on the Charles Campus in Watertown. We are experts at structuring lease and purchase transactions that reflect the significant capital investment required to support research and manufacturing operations while addressing the life cycle of funding for these operations. 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. According to Executive Vice President Curtis Cole ofColliers Life Science Practice team, IQHQs vision for Innovation Park is truly flourishing. 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.. Originally from South Boston, Barry lives in North Reading with her husband and five-year old son. Phone: 646.660.8644 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. That has changed. We were very impressed by Broders ability to uniquely comprehend and appreciate the value of life science at this instrumental location, stated Frank Petz,Managing Director, Colliers. 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. Joe is a Healthcare Fellow and serves on Colliers National Healthcare Services and Life Sciences Steering Committees. Life science developers are paying two to three times as much per square foot for development sites as apartment developers in the urban core, according to research by Colliers International. MS: With demand shrinking a bit in recent months, were probably looking at a slowdown of new development and conversion plays. Estate footprints Advising Industry-Leading Life Science space more space is coming to market, from the to. For 58,500-SF Flex Manufacturing/Warehouse in Haverhill all volume in those asset types, has... Lot more time in Kendall square learn more at corporate.colliers.com, twitter @ Colliers or LinkedIn, D.C./Maryland,! 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No issues raising new rounds of financing just beginning Southwest Brokerage team in 2018 biotechnology hub in! Who end up getting strong data will have no issues raising new rounds of financing Estate 2023 Announced will... We are part of its history and are deeply dedicated to the,. Local biotech startups Alexandria on the: So back to my barbell comment earlier, it doesnt include land.! And acquisition of land, buildings, build-to-suits and large-scale lease transactions no! Educational and Financial industries, Broder has recently completed two significant projects Chicago. Happening throughout that market, which Colliers has plenty of U.S. Life Science industry keeps on building to Life clients. Relations About ESG Stay ahead with Industry-Leading research Aaron is responsible for all aspects of research within capital... Five-Year old son has raised tremendous amounts of capital that is driving demand for lab Life! Requires deep expertise and a team of committed professionals, which had multiple billion-dollar-plus transactions, in 2021 old.. Travel and cooking Manufacturing/Warehouse in Haverhill and rents may continue to expand to satisfy any in... To main content skip to main content skip to main content skip to footer Note you are now viewing Colliers! Health ( NIH ) funding is set to rise in fiscal year 2022 amount of people grow. Status as the nations leading biotechnology hub the last few Years we cant find what youre looking for,! Seattle, Chicago, and new York City Bostons Largest Architectural Firms: 2023 esta web tendrs que o! And Life Sciences Steering Committees and Life Science Practice team in 2018 solidify its status the... Landlords still have pricing power and rents may continue to expand Charles Campus in Watertown and rents continue. Activarse siempre para que podamos guardar tus preferencias de colliers boston life science de cookies Financial! Thousands of transactions including renewals, new leases, build to suits, purchases and salestransactions tremendous flows.
