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. The property will also feature shared space for local biotech startups. He is currently assisting in multiple transactions in the majority ofSan Diego County markets as well as around the United States. Investors poured record venture capital (VC) funding into the life science industry in 2021. The top 12 markets have a combined 13.8 million square feet underway. 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. 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. Prior to joining Colliers, Charlie spent time at competitor firms where he was responsible for oversight and transaction management as the point person for transactions globally. In the past two years, nearly all reported Boston area office transactions are either lab/R&D space or earmarked for a future life science conversion. Alongside my partners on the Southwest Brokerage team, I helped clients make highly informed decisions in an increasingly dynamic investment and leasing market. Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. Caitlin approaches each clients needs and challenges with enthusiasm, working diligently to develop a holistic understanding of their requirements. Read the interview. New deliveries in 2022 will open the door for more absorption. As more projects deliver and companies set up shop, the market will solidify its status as the nations leading biotechnology hub. BOSTON - Colliers International announced that it represented client, IQHQ, in a 15-year, 88,184-SF lease at Innovation Park, Andover, MA to growing Cambridge-based life science company, Oncorus. 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. Some real estate inventories skew toward research and development space, while others are more cGMP oriented, or a mixture of both. Prior to joining Colliers in 2008, he worked in similar capacities at competitors CBRE and C&W. 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. Note you are now viewing the Colliers United States website. Oncorus was represented by JLLs Peter Bekerian in the transaction. Dynamic. The asset commanded attention from a wide range of institutional investors, with Oxford Properties ultimately being awarded the asset. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. Holmes Named Leasing Agent for 58,500-SF Flex Manufacturing/Warehouse in Haverhill. 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. Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. Colliers | Boston brings a world of resources to New England, offering a full array of integrated real estate services and backed by the most experienced executive team in the Greater Boston area. David and wife Kristy met at the University of Illinois, married in 2001, and are blessed withthree teenage sons. These are the words that come to mind when describing the current life sciences landscape. In addition, he has completed over 200 tenant representation transactions totaling more than 2 million square feet. We are part of its history and are deeply dedicated to the community and to serving you. 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. 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: Big Pharma has been extremely active over the last 120 days. 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. Originally from South Boston, Barry lives in North Reading with her husband and five-year old son. Colliers' Boston Life Science Practice aims to deliver innovative physical space solutions where ideas can emerge, be nurtured, and ultimately improve lives. Boston, MA Colliers has appointed Kim Barry as senior vice president in the Boston life science practice group. These factors are driving tremendous growth in both established life science hubs and numerous other markets. Im pleased to join the Colliers team, which has repeatedly proven itself one of the most talented in the area.. Major life science leases are getting done in Boston. 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. Colliers | Boston brings a world of resources to New England, offering a full array of integrated real estate services and backed by the most experienced executive team in the Greater Boston area. 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. 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. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. My acquired knowledge in life science work has been on both the landlord (Wexford Science & Technology) and the tenant side within the industry. In her most recent position with Venture Forward Partners, she consulted with companies on laboratory design and operations, relocation services and more. He also oversaw an 8.5 million-square-foot, Class A office portfolio in New Jersey and eastern Pennsylvania for SJP Properties. 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. Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. Read more about the U.S. Life Science Report: First Quarter 2022 report. EG: We do a fair amount of tenant representation. 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 . Breakthrough Properties first quarter completion of The 105 added 260,000 square feet at the Seaport, fully leased by CRISPR. Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. 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. BOSTON Colliers International announced that it represented client, IQHQ, in a 15-year, 88,184-SF lease at Innovation Park, Andover, MA to growing Cambridge-based life science company, Oncorus. 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. management or construction management services, 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. He also serves as the National Practice Leader of . That has changed. Chris Stickney serves as the Managing Director of Colliers' Boston Office which provides valuation and advisory services throughout New England. 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. 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. 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 . We did a big Eli Lilly deal there, and CRISPR and Vertex are there as well. It traded for around $2,000 a square foot, record pricing during this time of incredible interest rate volatility. Broder acquired the Pleasant Street Science Park in. About Knowledge Leader, They raised a total of $21.2 billion at IPO, for a. Companies that go public need to hire a significant amount of people and grow rapidly. One is the founders and the backers, people with incredible track records. Joe is a Healthcare Fellow and serves on Colliers National Healthcare Services and Life Sciences Steering Committees. 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. Perhaps searching can help. Theyre taking those track records and having success in securing large financing rounds. 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. He is also a founding member of the firm's Tenant Advisory Councilconsisting of the firm's Top 100 "Tenant Rep" brokers globally. Houston, for example, has the largest share of its inventory underway, at 1.8 million square feet, or 21% of the existing market. EG: One noteworthy deal was Tome Biosciences. Puedes aprender ms sobre qu cookies utilizamos o desactivarlas en los ajustes. Colliers | Boston, originally founded by J. Morris Meredith in 1875 who later formed the reputable Meredith & Grew partnership just 16 years later, is deeply rooted in the Boston market. EG: Kendall Square had zero vacancy over the last three years, so we were spending more time in secondary markets. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in . Overall, the results for 2022 were mixed as the . For the early- and mid-stage companies, whether theyre private or public, it comes down to two things. 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.. 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. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. MS: We just closed a deal in Cambridge called Blackstone Science Square. The campus also provides ample opportunity to develop up to 180,000 SF of new life science product. Associate Vice President and Life Science and Health Technology Principal. 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. With a staff of over 130 working out of the Colliers Boston offices, we take a strategic approach to on-going company growth and talent acquisition, making sure that our people represent and uphold our overall company culture and values. Navigating this quickly-shifting sector requires deep expertise and a team of committed professionals, which Colliers has plenty of. What has happened to rents in the region since the start of the pandemic? 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. 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. The Urban Brokerage Team focuses on tenant advisory and landlord representation assignments within Boston's dynamic downtown and peripheral urban markets. ensure on-time and under-budget delivery of the most Colliers announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. Thats pretty drastic. 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. Ms informacin sobre nuestra poltica de cookies, Deblur Comunicacin 2020. After carefully listening to your vision, we customize each process to deliver the best results that match your checklist of goals. He leadsteam of six professional who specialize in local brokerage and account portfolio management. EG: Rent shot up significantly earlier in the pandemic, and the past six months have seen them stabilize. So back to my barbell comment earlier, it has been core or development. 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. Boston, for one, had $5.7 billion in investment in existing office, lab, and industrial/flex buildings last year. BOSTON Basic fundamentals are healthy in the Boston life science market, which by far has the nations largest pipeline of potential life science projects, according to a report by Colliers. 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. Matt, lets talk about investment sales in the region. Across the top markets, 1.8 million square feetwereabsorbed. From a scale perspective, the San Francisco Bay Area and Boston rank first and second, respectively. Privacy Policy 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. 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. We know real estate and we know Boston. 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. Notably, Broder has recently completed two significant projects in Chicago and the Berkshires. 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