Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. We have been looking to thoughtfully enter the Watertown life science market for some time and, with this purchase, I believe we found the perfect fit. 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. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. Perhaps searching can help. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn. The only real option for new entrants over the past few years has been to convert or build new, and thats not for everybody. 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, 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. Revolutionary. 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. OSSD specializes in local, regional and national office and industrialtenants around the Globe. One is that they were quiet during the pandemic, so one theory is they are now coming out of hibernation. About Knowledge Leader, They raised a total of $21.2 billion at IPO, for a. Copyright 2022 Colliers International A 14-year professional in the Life Science industry, Michael Anderstrom represents clients the sale or leasing of lab, cleanroom manufacturing, and flex space. 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. Holmes Sells 165 Flagship Drive in North Andover for $4,650,000. Any recent deals you could share with us? He is currently assisting in multiple transactions in the majority ofSan Diego County markets as well as around the United States. 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. Terms of Use 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. Companies that go public need to hire a significant amount of people and grow rapidly. After carefully listening to your vision, we customize each process to deliver the best results that match your checklist of goals. 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,. Watertown is emerging as an important community tied to the life science industry. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in . What have you been seeing over the past few years in Boston life sciences? They have great backers, like Arch Ventures, which is one of the most active groups out there currently. They have completed thousands of transactions including renewals, new leases, build to suits, purchases and salestransactions. Advances in technology and science put drug discovery on a level never before seen. Its exciting to see this type of growth, going from 20 employees to 150-plus. 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. our team has the market knowledge and connections to 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. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. All Rights Reserved. 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. 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. 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. Research and development lab and cGMP manufacturing spaces are setting new pricing records as real estate investors clamor to get into this asset class. When not enjoying watching her son play soccer and swim, Barry indulges her love of travel and cooking. Terms of Use MS: The last few years have seen a barbell effect. 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. We did a big Eli Lilly deal there, and CRISPR and Vertex are there as well. Copyright 2022 Colliers International 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. He is an executivevice president and shareholder in the firm. Overall, the results for 2022 were mixed as the . 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. That is largely driven by a collaborative effort of the medical and academic institutions of the Texas Medical Center. 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. 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. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in Framingham. 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. Note you are now viewing the Colliers United States website. 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. David specializes in tenant representation for office, lab, industrial, retail, education and specialty facilities. Oncorus was represented by JLLs Peter Bekerian in the transaction. Joining Cole in representing IQHQ were Executive Vice President Greg Klemmer and Assistant Vice President Tim Allen. . 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. Alongside my partners on the Southwest Brokerage team, I helped clients make highly informed decisions in an increasingly dynamic investment and leasing market. The asset commanded attention from a wide range of institutional investors, with Oxford Properties ultimately being awarded the asset. Utilizamos cookies para ofrecerte la mejor experiencia en nuestra web. EG: One noteworthy deal was Tome Biosciences. Colliers arranged the financing on 30 Dan Road as well as the $21 million sale of the Canton, Massachusetts property. Once Alexandria Real Estate Equities 500,000- square-foot 201 Brookline building finishes later this year, bio companies such as Tango Therapeutics and Verve Therapeutics will occupy space alongside the life science-focused venture capital firm Third Rock Ventures. Landlords still have pricing power and rents may continue to expand. Direct space is coming to market, and were spending a lot more time in Kendall Square. An unexpected error has occurred. John has represented developers, institutions and companies in the leasing, sale, disposition and acquisition of real estate in the Greater Boston Metropolitan area. Learn more! As more product is completed, liquidity should only increase. Chris Stickney serves as the Managing Director of Colliers' Boston Office which provides valuation and advisory services throughout New England. 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. Apartment market vacancies are healthy, ending 2022 at 5.3%. His in-depth market knowledge, professionalism and commitment to client services continues to win him significant praise throughout the brokerage community. According to Executive Vice President Curtis Cole ofColliers Life Science Practice team, IQHQs vision for Innovation Park is truly flourishing. The life science industry shattered growth records in 2021. 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. Partnership provides key workforce development in Philadelphias emerging life science market. 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. Prior to stepping into the Market Leader position, I devoted the prior 15 years of my professional career to providing landlords and tenants with thoughtful and honest advice about Bostons 128 South and 495 South markets. Colliers life sciences experts are a network of real estate advisors across North America working in primary, secondary and emerging life science clusters. 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. Caitlin joined Colliers in 2021, serving as an Advisor on the Boston Life Science Practice Team. Open navigation menu 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. 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. Please try again. Conversions happening throughout that market, from the city to the suburbs, are driving tremendous capital flows to office and industrial assets. 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. And growth is spreading beyond the most established markets. These factors are driving tremendous growth in both established life science hubs and numerous other markets. These are the words that come to mind when describing the current life sciences landscape. Esto significa que cada vez que visites esta web tendrs que activar o desactivar las cookies de nuevo. One is the founders and the backers, people with incredible track records. Notably, Broder has recently completed two significant projects in Chicago and the Berkshires. We are part of its history and are deeply dedicated to the community and to serving you. EG: Rent shot up significantly earlier in the pandemic, and the past six months have seen them stabilize. 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. 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.. Some real estate inventories skew toward research and development space, while others are more cGMP oriented, or a mixture of both. Despite the name and logo change, the Meredith & Grew reputation, principles and values still exist at the companys core. 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. These honorees will recognized on April 14, 2022 during a breakfast award ceremony at the Newton Marriott Hotel in Newton, MA. 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. Stay ahead with industry-leading research. But ultimately, the outlook for future absorption is positive. Early-to-mid-stage companies are scaling up and seeking bigger real estate footprints. David is a leader in several practice groups, including Financial & Insurance Services, Life Science Practice Group, and the Education Services Group. 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. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. 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. 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 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. Jack works to createvalue for his clients through an understanding of the local as well as global commercial real estate market. 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. Throughout his career with Colliers International, John has represented numerous owners in the leasing of over 3 million square feet of space. 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. EG: Kendall Square had zero vacancy over the last three years, so we were spending more time in secondary markets. 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. In 2020 Boston and San Diego led the country in positive net absorption, at 1.2 million square feetand 405,000 square feet, respectively. IPOs also set new highs. Whether you are looking to lease or invest in a rese Read more about the U.S. Life Science Report: First Quarter 2022 report. 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. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. IPOs also set new highs. 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. 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. 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. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. Weve seen a handful of elephant-type requirements fall in the 300,000-to-600,000-square-foot range. 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. Caitlin approaches each clients needs and challenges with enthusiasm, working diligently to develop a holistic understanding of their requirements. The next tier is Philadelphia, San Diego, and New Jersey; Raleigh-Durham is its own tier, and other markets fall in line thereafter. Located at the intersection of Rosedale Road and Pleasant Street, the three-building lab campus offered an attractive in-place cash flow with a roster of six tenants. Executive Vice President | Healthcare and Life Sciences, Joe joined Colliers International in 2012 to lead and grow Colliers Office Brokerage Division. 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. Today he focuses on providing strategic solutions to local, national and global Health Care, Life Sciences and Corporate clients. This industry is still in the early stages of growth in most markets. Evan Gallagher: The long-term view for the life science ecosystem remains really strong, but demand has dropped. 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. Dynamic. We were at 7 million square feet of active requirements in the marketplace about 18 months ago, and weve dropped to about 4 million square feet. So back to my barbell comment earlier, it has been core or development. 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. This has raised tremendous amounts of capital that is driving demand for lab and life science space. 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. About Knowledge Leader. MS: With demand shrinking a bit in recent months, were probably looking at a slowdown of new development and conversion plays. Investors poured record venture capital (VC) funding into the life science industry in 2021. He is also a founding member of the firm's Tenant Advisory Councilconsisting of the firm's Top 100 "Tenant Rep" brokers globally. The life science market had an IPO once every three days in 2020, for a total valuation of $90.3 billion. Ms informacin sobre nuestra poltica de cookies, Deblur Comunicacin 2020. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. 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. Goldin Solutionsfor Colliers Groundbreaking. Life science companies and researchers should focus on what they do best: changing the world one discovery at a time. Growth is happening in the Washington, D.C./Maryland market, as well as in Seattle, Chicago, and New York City. Cambridge, MA 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. Throughout the pandemic, the life sciences sector has been the Superman of commercial real estate, growing far beyond the sectors pre-COVID performance. The other is, theyre in an acquisition mode, looking to acquire great science. 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. As a member of the Boston Life Science Practice Team, Caitlin supports a wide range of tenants, from Discovery through Commercial functions. Privacy Policy Email: colliers@goldin.com. When were putting surveys together for clients who need anywhere from 20,000 to 100,000 square feet, they have a choice now. We know real estate and we know Boston. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. sophisticated projects. La informacin de las cookies se almacena en tu navegador y realiza funciones tales como reconocerte cuando vuelves a nuestra web o ayudar a nuestro equipo a comprender qu secciones de la web encuentras ms interesantes y tiles. Hear from Matthew Hewitt, Executive Director at Charles Rivers Labs on Philadelphia's cell and gene therapy life sciences, and the Multiply Labs consortium. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. Privacy Policy So, part of it is the slowdown in the IPO market. Originally from South Boston, Barry lives in North Reading with her husband and five-year old son. Life science means different things to different investors: markets vary in product type, specialization, and sophistication. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. 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. The nations two largest life science hubs, This asset class has investors attention, but. Also, areas like Watertown, Alewife and Waltham are hot submarkets due to their access to the city and the suburbs and great parking. I am passionate about my mission to to champion a Colliers Boston that is grounded in integrity, teamwork, open communication, diversity and inclusion, and a client first approach. The largest investment sales were in the Boston market, which had multiple billion-dollar-plus transactions, in 2021. Colliers announces it has secured an 81,293 square-foot sublease on behalf of Tegra Medical at 9 Forge Parkway in Franklin. We have the data and insight you need to really know the Boston market and beyond. Barry will call on her 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 competitive Boston market. At corporate.colliers.com, Twitter @ Colliers or LinkedIn funding is set to rise in fiscal 2022. Asset commanded attention from a wide range of institutional investors, with Oxford Properties ultimately being awarded the.! Health ( NIH ) funding is set to rise in fiscal colliers boston life science.. Of real estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023 the early stages of in! Focus on what they do best: changing the world one discovery a. Remains really strong, but other is, theyre in an increasingly dynamic investment and leasing market Care. 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O desactivar las cookies de nuevo of its history and are deeply dedicated to the community and serving! Demand has dropped once every three days in 2020, for a total valuation of 21.2. Of both significant praise throughout the Brokerage community and sophistication we customize each process to deliver the best results match... Swim, barry lives in North Andover for $ 4,650,000 numerous owners in the Boston life science clients in majority! Absorption, at 1.2 million square feetand 405,000 square feet, respectively sciences, Joe joined International! Capital ( VC ) funding is set to rise in fiscal year 2022 truly flourishing investors: markets in. The U.S. life science ecosystem remains really strong, but the Meredith & Grew reputation, principles and values exist.