IPOs also set new highs. Phone: 646.660.8644 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. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. He is currently assisting in multiple transactions in the majority ofSan Diego County markets as well as around the United States. Conversions are taking place across the country, but the scale at which they are growing in Boston is second to none. R.W. Skip to main content Skip to footer Note you are now viewing the Colliers United States website. The only real option for new entrants over the past few years has been to convert or build new, and thats not for everybody. In 2020 Boston and San Diego led the country in positive net absorption, at 1.2 million square feetand 405,000 square feet, respectively. Companies that go public need to hire a significant amount of people and grow rapidly. EG: Kendall Square had zero vacancy over the last three years, so we were spending more time in secondary markets. It traded for around $2,000 a square foot, record pricing during this time of incredible interest rate volatility. For further information, please contact: The top 12 markets have a combined 13.8 million square feet underway. 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. As a member of the Boston Life Science Practice Team, Caitlin supports a wide range of tenants, from Discovery through Commercial functions. 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. Please try again. What has happened to rents in the region since the start of the pandemic? 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. 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. There hasnt been a ton in between in terms of true value-add opportunities. 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. Whether you are looking to lease or invest in a rese ensure on-time and under-budget delivery of the most 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. There are a variety of successful processes that our teams follow when guiding clients through transitional strategies. The asset commanded attention from a wide range of institutional investors, with Oxford Properties ultimately being awarded the asset. Boston, MA Colliers has appointed Kim Barry as senior vice president in the Boston life science practice group. Note you are now viewing the Colliers United States website. Stay ahead with industry-leading research. . Receive our weekly newsletter with the latest posts and insights. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in Framingham. 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). 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. 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. Thats not to say there havent been some headwinds: Boston-based companies such as Kaleido Biosciences and Yumanity Therapeutics laid off workers in recent months, and availabilities in some submarkets ticked up in the first quarter due to sublease space returning to the market. Associate Vice President and Life Science and Health Technology Principal. 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. 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. 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. 11/13/2020 - King Street Properties begins construction on Cambridge lab partnering with Healthpeak Properties on the $170 million project. Research and development lab and cGMP manufacturing spaces are setting new pricing records as real estate investors clamor to get into this asset class. David and wife Kristy met at the University of Illinois, married in 2001, and are blessed withthree teenage sons. John Carroll, III joined Colliers International in 1993. The life science market had an IPO once every three days in 2020, for a total valuation of $90.3 billion. Thats pretty drastic. Myknowledge of market conditions and influences in the life sciences supports my ability to be creative in structuring the financial details of both lease and purchase transactions. We did a big Eli Lilly deal there, and CRISPR and Vertex are there as well. For many of the same reasons that IQHQ was originally attracted to Innovation Park from an acquisition standpoint first-class life science infrastructure, high quality finishes, accessibility and proximity to Greater Boston biotech clusters Oncorus also viewed the building as a premier location and facility for a clinical manufacturing outpost to their Cambridge HQ. 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. Freudenheim Partners Arranges 30,000 SF Relocation and Expansion for Cyprotex, 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, AGC MA announces 2023 BWIC Inspire Awards Winners, Arcadis DPS Group Welcomes Chris Oldham as Director of Project Management, Chapman Construction Completes LEED Renovation for Boston Universitys Student Health Services. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. Colliers announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. 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. 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. The largest investment sales were in the Boston market, which had multiple billion-dollar-plus transactions, in 2021. Growth is happening in the Washington, D.C./Maryland market, as well as in Seattle, Chicago, and New York City. 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. 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. Throughout the pandemic, the life sciences sector has been the Superman of commercial real estate, growing far beyond the sectors pre-COVID performance. Copyright 2012 - 2023 | citybiz | All Rights Reserved, Advertising / Media / Communications / Public Relations. Were thrilled that we will be developing a state-of-the-art clinical manufacturing facility at Innovation Park in Andover, said Steve Harbin, Chief Operations Officer and Chief of Staff at Oncorus. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. 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. 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. The Urban Brokerage Team focuses on tenant advisory and landlord representation assignments within Boston's dynamic downtown and peripheral urban markets. 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. Dynamic. 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. Any recent deals you could share with us? 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. They have completed thousands of transactions including renewals, new leases, build to suits, purchases and salestransactions. Our reputation for delivering results spans more than 135 years. What strategies are popular with investors entering this life science market? Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. Which submarkets are hot spots of tenant activity, and how might that have changed over the past few years? 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