News Release: JLL secures $585M financing for mixed-use development in Boston
Allston LabWorks will comprise life sciences, retail and multi-housing space at 250, 280 and 305 Western Ave. in Boston’s Allston neighborhood BOSTON, August 1, 2022 – JLL’s Capital Markets group announced today that it has arranged $585 million in construction financing for a mixed-use project consisting of 580,905 square feet of life sciences, retail and […]
News Release: SmartLabs Announces Plans to Expand High-Performance Laboratory Facilities in Philadelphia
– State-of-the-art laboratory space will become available in 2025 – New building will bring SmartLabs to its third city in the United States BOSTON, Aug.1, 2022, BUSINESS WIRE)–Capitalizing on Philadelphia’s emergence as a national hub for cell and gene therapy, SmartLabs, a Boston-based Laboratory-as-a-Service (LaaS) leader, today announced plans to open its first facility in […]
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 […]