Empty space is rare. 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. This facility will play a central role in enabling us to advance our mission to realize the full promise of viral immunotherapy for cancer patients.. 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. About Knowledge Leader, They raised a total of $21.2 billion at IPO, for a. One is that they were quiet during the pandemic, so one theory is they are now coming out of hibernation. IPO numbers were off the charts, VC funding set new highs, and NIH grants increased, all creating unprecedented demand for life science properties. 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 know real estate and we know Boston. Theyre taking those track records and having success in securing large financing rounds. Read more about the U.S. Life Science Report: First Quarter 2022 report. 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. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. 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. Despite the name and logo change, the Meredith & Grew reputation, principles and values still exist at the companys core. Email: colliers@goldin.com. The Urban Brokerage Team focuses on tenant advisory and landlord representation assignments within Boston's dynamic downtown and peripheral urban markets. As a member of the Boston Life Science Practice Team, Caitlin supports a wide range of tenants, from Discovery through Commercial functions. Note you are now viewing the Colliers United States website. 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. . The only real option for new entrants over the past few years has been to convert or build new, and thats not for everybody. Colliers life sciences experts are a network of real estate advisors across North America working in primary, secondary and emerging life science clusters. As more projects deliver and companies set up shop, the market will solidify its status as the nations leading biotechnology hub. As more product is completed, liquidity should only increase. When not enjoying watching her son play soccer and swim, Barry indulges her love of travel and cooking. 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. Which submarkets are hot spots of tenant activity, and how might that have changed over the past few years? 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. John Carroll, III joined Colliers International in 1993. 313 Pleasant St. in Watertown A Boston-based residential and hospitality developer is dipping its toes in the life sciences fray. 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.. 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. our team has the market knowledge and connections to Skip to main content Skip to footer Note you are now viewing the Colliers United States website. Boston, for one, had $5.7 billion in investment in existing office, lab, and industrial/flex buildings last year. 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. The life science market had an IPO once every three days in 2020, for a total valuation of $90.3 billion. 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. 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. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. Ms informacin sobre nuestra poltica de cookies, Deblur Comunicacin 2020. 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. Chicago, too, is attracting new inventory, with multiple projects driving the 1.2 million square feet of development (20% of inventory). Here are key takeaways on the : 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. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. David specializes in tenant representation for office, lab, industrial, retail, education and specialty facilities. Copyright 2012 - 2023 | citybiz | All Rights Reserved, Advertising / Media / Communications / Public Relations. Learn more! Prior to joining Colliers in 2008, he worked in similar capacities at competitors CBRE and C&W. While that encompasses 45% of all volume in those asset types, it doesnt include land purchases. Please try again. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in Framingham. 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. MS: With demand shrinking a bit in recent months, were probably looking at a slowdown of new development and conversion plays. 40th Annual Trends In the Real Estate Market Seminar - Connecting the Dots with Colliers International, Development and Consulting Services Group, Colliers Facilitates 81,293 SF Flex Sublease in Franklin on behalf of Tegra Medical, Broder Acquires $46M Life Science Campus Arranged by Colliers, Colliers Capital Markets Team Continues Growth with Addition of Matthew Sherry, Colliers Rounds Out Investment Sales Group With Multifamily Specialist Kendin Carr. Life science means different things to different investors: markets vary in product type, specialization, and sophistication. Groundbreaking. Privacy Policy Copyright 2022 Colliers International He is also a founding member of the firm's Tenant Advisory Councilconsisting of the firm's Top 100 "Tenant Rep" brokers globally. IPOs also set new highs. 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 recessionary pressures still in the macroeconomy, the Greater Boston industrial market softened slightly, but industrial fundamentals remain healthy. Receive our weekly newsletter with the latest posts and insights. Matt Sherry: What were seeing on our side is similar. His team provides aone stop solutions for account management, lease administration, workplace strategy, labor analytics, capital markets, project management, andincentives procurement services. Oncorus was represented by JLLs Peter Bekerian in the transaction. 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. 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. In addition, he has completed over 200 tenant representation transactions totaling more than 2 million square feet. Apartment market vacancies are healthy, ending 2022 at 5.3%. Thats pretty drastic. This industry is still in the early stages of growth in most markets. 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. 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. Advances in technology and science put drug discovery on a level never before seen. Any recent deals you could share with us? In her most recent position with Venture Forward Partners, she consulted with companies on laboratory design and operations, relocation services and more. 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. Conversions happening throughout that market, from the city to the suburbs, are driving tremendous capital flows to office and industrial assets. Read the latest edition of the Commercial Observer online! Im pleased to join the Colliers team, which has repeatedly proven itself one of the most talented in the area.. center or life sciences property, or you need project 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. Its a capital markets issue where borrowing costs have changed, which is impacting underwriting and has translated into, in many instances, a pretty significant bid-ask spread between buyers and sellers. We have the data and insight you need to really know the Boston market and beyond. Alongside my partners on the Southwest Brokerage team, I helped clients make highly informed decisions in an increasingly dynamic investment and leasing market. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. "Residential had that . The largest investment sales were in the Boston market, which had multiple billion-dollar-plus transactions, in 2021. As part of the Life Science team, Tim actively represents Tenants and Landlords locally and globally. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. One is the founders and the backers, people with incredible track records. 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. Matt Sherry Joins Colliers as Managing Director, Investment Sales, Kendin Carr joins Colliers as Vice President in Boston office. EG: Over the past 10 months, the number of IPOs here in Massachusetts dropped significantly. 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. All Rights Reserved. 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. The other is, theyre in an acquisition mode, looking to acquire great science. 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. Terms of Use 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. She provides exemplary consultative services to landlord and tenant clients in the fast-growing life science and technology industries. 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. Read the interview. People credit this to two things. It was an opportunity for the buyer to get their hands on a building with a Cambridge address. Associate Vice President and Life Science and Health Technology Principal. 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. The campus also provides ample opportunity to develop up to 180,000 SF of new life science product. David and wife Kristy met at the University of Illinois, married in 2001, and are blessed withthree teenage sons. 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. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. 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. Hire a team that has a proven track record of success. We are part of its history and are deeply dedicated to the community and to serving you. Notably, Broder has recently completed two significant projects in Chicago and the Berkshires. 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. About Knowledge Leader. 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. Landlords still have pricing power and rents may continue to expand. Esto significa que cada vez que visites esta web tendrs que activar o desactivar las cookies de nuevo. They have great backers, like Arch Ventures, which is one of the most active groups out there currently. 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. 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. EG: We do a fair amount of tenant representation. 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. Ending 2022 at 5.3 % Advertising / Media / Communications / Public Relations tenants and Landlords and... 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And peripheral Urban markets exist at the companys core read more about the U.S. science! Ample opportunity to develop up to 180,000 SF of new development and plays! In tenant representation for office, lab, industrial, retail, education and specialty facilities on our side similar..., Advertising / Media / Communications / Public Relations be Honored Bostons largest Architectural Firms: 2023 colliers boston life science / Relations... Buildings last year they raised a total of $ 90.3 billion relocation services and more have pricing power and may! C & W provides exemplary consultative services to landlord and tenant clients in the early of. And industrial assets developer is dipping its toes in the transaction science pharmaceutical... Activity, and industrial/flex buildings last year status as the nations leading biotechnology.. Deblur Comunicacin 2020 activar o desactivar las cookies de nuevo eg: over the few. 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