Industry News

Hobbs Brook Real Estate opened a 507,000-sf life sciences complex in June of 2022 in Waltham, Mass. Designed by Gensler, the five-story facility provides state-of-the-art research labs, Class A office environments, and a 150-person conference venue. Integrating advanced mechanical and electrical systems, the highly flexible structure offers column-free floor plates that can be configured to support large single-floor tenants or multiple smaller tenants, with amenities centralized in the core.

Conscience Bay Company is planning to construct the Ridgeway Science & Technology facility in Boulder, Colo. Designed by Stantec to foster discovery and innovation, the two-story, 112,423-sf development will offer flexible lab and office environments complemented by collaboration spaces, outdoor terraces, shower and locker rooms, secure bike storage, and a café with a fire pit. The high-performance structure will integrate robust mechanical and electrical systems to meet the demands of next-generation research programs.

The University of Pennsylvania and Longfellow Real Estate Partners are planning to construct a 455,000-sf life sciences center on the Pennovation Works property in Philadelphia. Designed by Jacobs, the project will include three structures providing a total of 387,000 sf of R&D space and 68,000 sf of biomanufacturing space for the production of cell and gene therapies.

Growing demand for life sciences research space is driving an increase in office-to-lab conversion projects in the United States. According to a new report from CBRE, office-to-lab conversions in progress in the 12 largest U.S. life sciences markets at the end of 2021 amounted to 9.9 million sf, up 49 percent from the beginning of the year. In comparison, ground-up lab construction rose by 42 percent to nearly 18.8 million sf by the end of 2021.

DLJ Real Estate Capital Partners and Leggat McCall Properties opened a 289,000-sf life sciences facility in Somerville in May of 2022. Designed by SGA and Hashim Sarkis Studios, the nine-story structure provides Class-A lab and office environments supported by robust mechanical and electrical infrastructure. Offering flexible floorplates with column-free spans of 35,000 sf, the sustainable development is targeting LEED Gold and WiredScore Platinum certifications.