As a result, we place incredible emphasis on our people being knowledgeable about Greater Boston as a whole, since each of its regions and even product types are increasingly interconnected. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. 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. John Carroll, III joined Colliers International in 1993. Note you are now viewing the Colliers United States website. MS: The last few years have seen a barbell effect. 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. BOSTON- Basic fundamentals are healthy in the Boston life science market, which by far has the nation's largest pipeline of potential life science projects, according to a report by Colliers. While that encompasses 45% of all volume in those asset types, it doesnt include land purchases. EG: Kendall Square had zero vacancy over the last three years, so we were spending more time in secondary markets. Mr. Cole joined the Colliers International Urban Brokerage team in 2018. . As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. Companies coming up with groundbreaking medicines have significant optionality, whether its in the sublease market were seeing 70 subleases throughout greater Boston, as opposed to zero a year and a half ago or on a direct basis within submarkets throughout greater Boston. They have completed thousands of transactions including renewals, new leases, build to suits, purchases and salestransactions. His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. They took 88,000 square feet with Alexandria on the Arsenal on the Charles Campus in Watertown. 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. As a member of the Boston Life Science Practice Team, Caitlin supports a wide range of tenants, from Discovery through Commercial functions. I haveexperience with Advanced Therapeutic Medicinal Products, Parenteral Fill Finish, Solid Oral Dosage, Biologics, and Medical Device manufacturing facilities, as well as a solid background in Laboratory Research and Development/Pilot scale facilities andcontrolled environments. Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. For the early- and mid-stage companies, whether theyre private or public, it comes down to two things. 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. 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. "Residential had that . 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. All Rights Reserved. Jack works to createvalue for his clients through an understanding of the local as well as global commercial real estate market. Research and development lab and cGMP manufacturing spaces are setting new pricing records as real estate investors clamor to get into this asset class. Any recent deals you could share with us? Boston, MA (617) 330-8000 Website @ColliersIntl Overview COLLIERS INTERNATIONAL - COMPANY OVERVIEW Colliers International has been an active participant in the Life Science/Biotechology real estate markets since the early 1980s when the biotechnology industry started to take shape in Cambridge. 11/19/2020 - King Street plans $500M biomanufacturing campus in Devens. Those are real needle movers. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. 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. Life science means different things to different investors: markets vary in product type, specialization, and sophistication. 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. Evan Gallagher: The long-term view for the life science ecosystem remains really strong, but demand has dropped. Email: colliers@goldin.com. 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. EG: Big Pharma has been extremely active over the last 120 days. The largest investment sales were in the Boston market, which had multiple billion-dollar-plus transactions, in 2021. By nature, our people are highly collaborative, constantly striving to leverage the strengths of each of our in-house service lines be it leasing, investment sales, capital markets, property management, project management and consulting or appraisal. Please try again. Whether you are looking to lease or invest in a rese The Urban Brokerage Team focuses on tenant advisory and landlord representation assignments within Boston's dynamic downtown and peripheral urban markets. And growth is spreading beyond the most established markets. The other is, theyre in an acquisition mode, looking to acquire great science. Apartment market vacancies are healthy, ending 2022 at 5.3%. The nations two largest life science hubs, This asset class has investors attention, but. Privacy Policy Company News Investor Relations About ESG When not enjoying watching her son play soccer and swim, Barry indulges her love of travel and cooking. 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. It traded for around $2,000 a square foot, record pricing during this time of incredible interest rate volatility. Terms of Use So, part of it is the slowdown in the IPO market. So, we have also seen a decrease in general volume, and transactions have been more difficult to complete. The top 12 markets have a combined 13.8 million square feet underway. 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. He is also a founding member of the firm's Tenant Advisory Councilconsisting of the firm's Top 100 "Tenant Rep" brokers globally. 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. National Institutes of Health (NIH) funding is set to rise in fiscal year 2022. 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. IPOs also set new highs. Weve seen a handful of elephant-type requirements fall in the 300,000-to-600,000-square-foot range. Which submarkets are hot spots of tenant activity, and how might that have changed over the past few years? 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. In her new role, Barry will provide life science clients with various critical services including site selection assistance, vendor procurement, budgeting and timeline management assistance and more. That has changed. Joe is a Healthcare Fellow and serves on Colliers National Healthcare Services and Life Sciences Steering Committees. 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. We did a big Eli Lilly deal there, and CRISPR and Vertex are there as well. My acquired knowledge in life science work has been on both the landlord (Wexford Science & Technology) and the tenant side within the industry. Seaport also continues to be hot. An unexpected error has occurred. Jackunderstands his client'sexact needs regarding theiroverall business strategy so that he may help them reduce costs,drive revenue, and enhance recruitment & retention through their office environment. A 14-year professional in the Life Science industry, Michael Anderstrom represents clients the sale or leasing of lab, cleanroom manufacturing, and flex space. 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. We are part of its history and are deeply dedicated to the community and to serving you. Note you are now viewing the Colliers United States website. Note you are now viewing the Colliers United States website. Colliers arranged the financing on 30 Dan Road as well as the $21 million sale of the Canton, Massachusetts property. Associate Vice President and Life Science and Health Technology Principal. Our reputation for delivering results spans more than 135 years. 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. But there has definitely been a race to expand to satisfy any demand in the market. Caitlin joined Colliers in 2021, serving as an Advisor on the Boston Life Science Practice Team. 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. Copyright 2012 - 2023 | citybiz | All Rights Reserved, Advertising / Media / Communications / Public Relations. Boston Has the Largest Potential Pipeline of Life Science Space in the Vertex Pharmaceuticals to occupy Related Beals planned development of 22 Drydock Avenue, Boylston Properties Launches Property Management Arm, Cresa Publishes Data-Driven Insights & Predictions for Greater Boston Real Estate Markets, R.W. As more projects deliver and companies set up shop, the market will solidify its status as the nations leading biotechnology hub. 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. Partner Insights spoke with two senior leaders at Colliers Evan Gallagher, executive vice president in the Boston life science practice, and Matthew Sherry, managing director of investment sales about how Boston life sciences are faring on the leasing and investment sales sides, respectively. 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. 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. Notably, Broder has recently completed two significant projects in Chicago and the Berkshires. Colliers announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. 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, Vertex Recommends Rejection of Mini-Tender Offer From TRC Capital Investment Corporation. EG: We do a fair amount of tenant representation. Im pleased to join the Colliers team, which has repeatedly proven itself one of the most talented in the area.. Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. Overall, the results for 2022 were mixed as the . 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. Other areas attracting life science growth include Boulder, Columbus, Houston, Los Angeles, Minneapolis, New Haven, Phoenix, and Pittsburgh, among others. 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. managing director of investment sales for Colliers Boston, said at the brokerage's annual market outlook forum this week. 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. Growth is happening in the Washington, D.C./Maryland market, as well as in Seattle, Chicago, and New York City. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn. 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. 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. He serves as the Director of Life Sciences team and is well versed in all aspects of designing and constructing laboratory and GMP manufacturing facilities on behalf of his clients. Has definitely been a race to expand to satisfy any demand in the IPO market feet underway, as. Are setting new pricing records as real estate investors clamor to get this... More time in secondary markets an Advisor on the Arsenal on the Charles campus Watertown! And CRISPR and Vertex are there as well as the financing on Dan! 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