Despite the name and logo change, the Meredith & Grew reputation, principles and values still exist at the companys core. But there has definitely been a race to expand to satisfy any demand in the market. Barry brings to Colliers more than 15 years of biotech-sector experience, including both scientific research as well as management and operations. A 14-year professional in the Life Science industry, Michael Anderstrom represents clients the sale or leasing of lab, cleanroom manufacturing, and flex space. Research and development lab and cGMP manufacturing spaces are setting new pricing records as real estate investors clamor to get into this asset class. 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. 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. Navigating this quickly-shifting sector requires deep expertise and a team of committed professionals, which Colliers has plenty of. Other areas attracting life science growth include Boulder, Columbus, Houston, Los Angeles, Minneapolis, New Haven, Phoenix, and Pittsburgh, among others. Dynamic. Matt Sherry: What were seeing on our side is similar. Twitter Putting Majority of NYC Offices Up for Sublease. . Originally from South Boston, Barry lives in North Reading with her husband and five-year old son. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. 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. Kim is an innovative problem-solver with a proven track record of success, said Evan Gallagher, Executive Vice President of Colliers Life Science Practice. 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. 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. Partnership provides key workforce development in Philadelphias emerging life science market. 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). Learn more! And growth is spreading beyond the most established markets. Joining Cole in representing IQHQ were Executive Vice President Greg Klemmer and Assistant Vice President Tim Allen. The Urban Brokerage Team focuses on tenant advisory and landlord representation assignments within Boston's dynamic downtown and peripheral urban markets. 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. We are part of its history and are deeply dedicated to the community and to serving you. EG: We do a fair amount of tenant representation. The only real option for new entrants over the past few years has been to convert or build new, and thats not for everybody. Note you are now viewing the Colliers United States website. Receive our weekly newsletter with the latest posts and insights. We did a big Eli Lilly deal there, and CRISPR and Vertex are there as well. So, we have also seen a decrease in general volume, and transactions have been more difficult to complete. 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. He also oversaw an 8.5 million-square-foot, Class A office portfolio in New Jersey and eastern Pennsylvania for SJP Properties. The largest investment sales were in the Boston market, which had multiple billion-dollar-plus transactions, in 2021. About Knowledge Leader, They raised a total of $21.2 billion at IPO, for a. Stay ahead with industry-leading research. Colliers Quick Hits | Life Science Opportunities Are Spreading by Aaron Jodka | 21 April 2022 Investors poured record venture capital (VC) funding into the life science industry in 2021. 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. Please try again. 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. Receive our weekly newsletter with the latest posts and insights. 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. The property will also feature shared space for local biotech startups. Empty space is rare. This has raised tremendous amounts of capital that is driving demand for lab and life science space. 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. 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. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in . Read more about the U.S. Life Science Report: First Quarter 2022 report. Colliers announces it has secured an 81,293 square-foot sublease on behalf of Tegra Medical at 9 Forge Parkway in Franklin. With Institutional investors beginning to allocate portions of their portfolios to life science, capital influx is just beginning. Advances in technology and science put drug discovery on a level never before seen. Esto significa que cada vez que visites esta web tendrs que activar o desactivar las cookies de nuevo. Whether due to reduced space needs stemming from weakened macroeconomic conditions (e.g. The top 12 markets have a combined 13.8 million square feet underway. What has happened to rents in the region since the start of the pandemic? We have the data and insight you need to really know the Boston market and beyond. Hire a team that has a proven track record of success. 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. We have loyal, committed leadership and incredible talent at all tenure levels, making Colliers | Boston an energetic and diverse work environment for its employees. She is an Emmanuel College graduate with a concentration in biology. 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. The life science industry shattered growth records in 2021. 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. These factors are driving tremendous growth in both established life science hubs and numerous other markets. So, part of it is the slowdown in the IPO market. 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. 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. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. 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.. Las cookies estrictamente necesarias tiene que activarse siempre para que podamos guardar tus preferencias de ajustes de cookies. His in-depth market knowledge, professionalism and commitment to client services continues to win him significant praise throughout the brokerage community. 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. 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. Growth is happening in the Washington, D.C./Maryland market, as well as in Seattle, Chicago, and New York City. Executive Vice President | Healthcare and Life Sciences, Joe joined Colliers International in 2012 to lead and grow Colliers Office Brokerage Division. MS: The last few years have seen a barbell effect. management or construction management services, 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. Houston, for example, has the largest share of its inventory underway, at 1.8 million square feet, or 21% of the existing market. Jack works to createvalue for his clients through an understanding of the local as well as global commercial real estate market. 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.. Perhaps searching can help. . 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. Watertown is emerging as an important community tied to the life science industry. "Residential had that . Broder acquired the Pleasant Street Science Park in. 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. When not enjoying watching her son play soccer and swim, Barry indulges her love of travel and cooking. Life science means different things to different investors: markets vary in product type, specialization, and sophistication. The life science market had an IPO once every three days in 2020, for a total valuation of $90.3 billion. 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. Vacancies in most markets are incredibly low, many below 5%, indicating more space is needed for expanding tenants. Cambridge, MA Both projects were built to LEED Platinum standards and have won numerous design awards. Prior to joining Colliers in 2008, he worked in similar capacities at competitors CBRE and C&W. 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. The next tier is Philadelphia, San Diego, and New Jersey; Raleigh-Durham is its own tier, and other markets fall in line thereafter. Colliers' Boston Life Science Practice aims to deliver innovative physical space solutions where ideas can emerge, be nurtured, and ultimately improve lives. Email: colliers@goldin.com. Top 25 U.S. Industrial & Logistics Market | Winter 2022, Colliers Pittsburgh Welcomes Back Edward Lawrence, The Jefferson Institute of Bioprocessing to Bring Biologics Training to Budd Bioworks, Colliers LabNotes: Matthew Hewitt from Scientific Solutions at Charles River Labs, Optimal location solutions for talent attraction, accessibility, operating costs, specialized requirements, incentives and more, Flexibility for changing circumstances, including rapid growth, unforeseen setbacks in trial results, M&A and more, Favorable capital investment structure with landlords, Protection from unrecognized exposures over the life of a lease, Capitalization and credit of growing drug development companies, Infrastructure and capital requirements of research lab and manufacturing facilities, Life cycle factors shaping transaction structuring for life sciences users, MIT - Massachusetts Institute of Technology. Oncorus was represented by JLLs Peter Bekerian in the transaction. ensure on-time and under-budget delivery of the most With space availability below 2%, the space crunch has yet to abate. 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. Ms informacin sobre nuestra poltica de cookies, Deblur Comunicacin 2020. 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. 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. In addition, he has completed over 200 tenant representation transactions totaling more than 2 million square feet. We know real estate and we know Boston. 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. So back to my barbell comment earlier, it has been core or development. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. OSSD specializes in local, regional and national office and industrialtenants around the Globe. 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. Weve seen a handful of elephant-type requirements fall in the 300,000-to-600,000-square-foot range. 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. 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. Note you are now viewing the Colliers United States website. 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 . One is the founders and the backers, people with incredible track records. Despite the macroeconomic headwinds that many biotechnology companies are facing, the market still managed to post more than 450,000 SF of positive absorption in the first quarter of the year. Major life science leases are getting done in Boston. 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. For further information, please contact: As a member of the Boston Life Science Practice Team, Caitlin supports a wide range of tenants, from Discovery through Commercial functions. 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. Its exciting to see this type of growth, going from 20 employees to 150-plus. IPOs also set new highs. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. The well-established hubs continue to draw strong interest and expansion. That has changed. We know real estate and we know Boston. His team provides aone stop solutions for account management, lease administration, workplace strategy, labor analytics, capital markets, project management, andincentives procurement services. Across the top markets, 1.8 million square feetwereabsorbed. The latest Tweets from Colliers Life Science | Boston (@LifeSciColliers). 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. With tens of millions of square feet in announced or underway projects, Boston easily has the largest potential pipeline of life science space in the nation. Holmes 2022 4th Quarter Office and Industrial Highlights, Margulies Perruzzi Completes Lab/Office Space for Strand Therapeutics, 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, Lauren Gauthier Joins SGA As Director Of Architecture, R.W. 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. 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. 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. Those are real needle movers. Our clients that require new or expanding space benefit from our expertise in the following ways: And our clients who own, develop or are converting buildings for life sciences use can accelerate the performance of their assets by capitalizing on our understanding of: Both occupiers and landlords can capitalize on the deep relationships our members have cultivated with partners across the life sciences ecosystem both nationally and in their local clusters including: Whether you are looking to lease or invest in a research Lab and life Sciences, Joe joined Colliers International to get into this asset.. Has completed over 200 tenant representation and investments inthe UTC San Diego office of Colliers International in 2012 to and! You are now viewing the Colliers United States website to 150-plus and C W... Platinum standards and have won numerous design awards insight you need to really know Boston. 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