News Release: JLL Life Sciences Industry Insight, San Diego Q2 2022
Market uncertainty causes a slowdown in tenant demand and deal velocity VC investment remains active, boosted by new mega- funds raised by prominent VC’s The local life sciences sector secured over $1.1B in VC funding during Q2, led by Resilience securing a $625M Series D round, bringing the company’s total raised capital to over $2B. […]
News Release: Newmark Arranges $514 Million in Construction Financing for Phase I of Assembly Innovation Park in Somerville, Massachusetts
The financing is one of Greater Boston’s first “green loans” and among $4+ billion in recent and active life science transactions by Newmark’s Boston Debt & Structured Finance group BOSTON, Aug. 1, 2022 /PRNewswire/ — Newmark announces the arrangement of $514 million in construction financing for Phase I of Assembly Innovation Park, a 485,000-square-foot life […]
News Release: $165M refinancing arranged for San Diego life sciences campus
JLL Capital Markets led financing efforts for Genesis Science Center, a four-building life sciences campus in the Sorrento Mesa submarket SAN DIEGO – July 29, 2022 – JLL Capital Markets announced today that it has arranged a $165 million refinancing for Genesis Science Center, a four-building, life sciences R&D campus totaling 252,000 square feet in […]
News Release: Abbott Laboratories Life Science Campus in Minneapolis trades hands
JLL Capital Markets and CBRE facilitated the sale of the 280,289 SF portfolio to Virtus Real Estate Capital MINNEAPOLIS – July 28, 2022 – JLL Capital Markets, working alongside CBRE, has announced today that it has closed the sale of Abbott Laboratories Life Science Campus, a four building, 280,289-square-foot life science portfolio in Minneapolis, Minnesota. […]
News Release: Aviridi Names Real Estate Veteran Jeffrey Rutishauser as Strategic Advisor, Expands Footprint of Philadelphia Life Sciences Corridor
Former CEO of Amstar Global and co-head of AIG/Lincoln has overseen more than 13 million square feet and $10 billion of commercial development PHILADELPHIA, July 28, 2022 (GLOBE NEWSWIRE) — Philadelphia’s life science corridor is one of the top 10 life sciences research talent clusters in the United States, according to a report from CBRE, […]
News Release: Diversified Healthcare Trust Expands its Portfolio of Life Science Properties In the San Francisco Bay Area Market with $82 Million Acquisition
NEWTON, Mass., July 28, 2022–(BUSINESS WIRE)–Diversified Healthcare Trust (Nasdaq: DHC) today announced that it has acquired 47071 Bayside Parkway located in Fremont, CA for $82 million, excluding closing costs, reflecting a current GAAP cap rate of 6.5% at closing. The recently renovated asset includes 89,000 rentable square feet of lab and corporate headquarters space that […]
News Release: Velocis Acquires 90k SF of Rockville Office Space in JV with Altus Realty; Plans Life Science/Lab Space Conversion
Two-Building Research Square located in the desirable Shady Grove biotech cluster ROCKVILLE, MD. – (July 27, 2022) – Velocis, a Dallas, Texas-based private equity real estate manager, acquired the two-building Research Square at 1500 & 1550 Research Blvd. in the Shady Grove submarket of Rockville, Md., in a joint venture with Arlington, Va.-based Altus Realty. […]
News Release: CBRE to Broker Lease New Life Science Conversion in Newark, Calif. and Expand San Francisco Bay Area Life Sciences Hub
City of Newark grants permits to Buchanan Street Partners for $12 million renovation San Jose, Calif. – July 26, 2022 – CBRE announced it will be leasing the Newark Science Center, a new life science conversion of a two-story, R&D facility. The 50,000 sq. ft. state-of-the-art life science/lab facility is located in Newark, Calif and […]
News Release: Alexandria Real Estate Equities, Inc. Reports: 2Q22 and 1H22 Net Income per Share – Diluted of $1.67 and $0.74, respectively; and 2Q22 and 1H22 FFO per Share – Diluted, As Adjusted, of $2.10 and $4.15, respectively
PASADENA, Calif., July 25, 2022 /PRNewswire/ — Alexandria Real Estate Equities, Inc. (NYSE:ARE) announced financial and operating results for the second quarter ended June 30, 2022. Alexandria Real Estate Equities, Inc. All Rights Reserved ©2022 (PRNewsfoto/Alexandria Real Estate Equities, Inc.) Alexandria Real Estate Equities, Inc. All Rights Reserved ©2022 (PRNewsfoto/Alexandria Real Estate Equities, Inc.) Alexandria […]
News Release: Suburban Laboratories Lose Luster As Life Sciences Seek Urban Settings
Suburban research laboratories face increasing competition from urban centers as proximity to talent and capital drive life science companies’ site-location choices, said Joseph Simone of Simone Development Companies. BRONX, N.Y. (PRWEB) JULY 25, 2022 — Suburban research laboratories face increasing competition from urban centers as proximity to talent and capital drive life science companies’ site-location […]
News Release: Eikon Therapeutics Announces Lease for East Coast Base of Operations in New York City
HAYWARD, Calif. & NEW YORK, July 21, 2022 –(BUSINESS WIRE)–Eikon Therapeutics Inc., a biotechnology company that applies advanced engineering and high-performance computing to the identification of important new medicines, today announced the execution of a lease with Alexandria Real Estate Equities, Inc. for its new East Coast base of operations located in the Alexandria Center® […]
News Release: Cushman & Wakefield San Diego Life Sciences Report Q2 2022
ECONOMIC OVERVIEW The total nonfarm employment in San Diego grew by 83,900 or +5.9% year-over-year (YOY) between May 2021 through May 2022. During the same time, the monthly unemployment rate decreased from 6.6% last year to 2.7% and is currently 100 basis points (bps) below the quarterly average of 3.7%.1 The annual unemployment rate is […]
News Release: Oxford completes speculative 130,000 sq ft office to lab conversion in Seattle to meet market demand
Only two of nine R&D floors remain available for lease as Seattle’s Boren Lofts office development becomes life sciences-ready Boren Labs. SEATTLE, July 19, 2022 — Oxford Properties Group (“Oxford”), a leading global real estate investor, asset manager and business builder, has completed the conversion of the 136,000 sq ft Boren Lofts office building in […]
News Release: Newmark Completes Recapitalization of 300 Third Street in Cambridge, Massachusetts
Fourth recapitalization completed by Newmark’s Boston Capital Markets Group for the seller along Kendall Square’s Binney Street corridor, bringing total consideration to $3.2 billion since 2019 CAMBRIDGE, Mass., July 18, 2022 — Newmark announces the recapitalization of 300 Third Street, a six-story 131,963-square-foot Class A laboratory/office asset located in Cambridge, Massachusetts. Newmark Co-Head of U.S. Capital […]
News Release: Berkadia Adds New Specialty Group, Medical & Life Sciences, To Platform
Atlanta, GA – July 14, 2022 – Berkadia announced today the addition of Senior Managing Director Sabrina Solomiany who will lead Berkadia’s newest specialty group, Medical & Life Sciences. Solomiany will sit in the Atlanta office and will report to SVP – Deputy Head of Investment Sales Mike Miner. “We’re thrilled to add to Berkadia’s […]