Industry News

Pfizer has signed a 15-year lease for 230,000 sf of Class A research space in San Diego to accommodate its growing oncology division. The global pharmaceutical manufacturer will occupy two of the three buildings that are currently under construction at Breakthrough Properties' Torrey View campus. Leading-edge wet labs will advance the creation of novel therapies, accompanied by flexible offices and collaboration spaces.

Phase 3 Real Estate Partners and Bain Capital completed construction in February of 2024 on Genesis Marina, a waterfront life sciences campus in Brisbane, Calif. Offering floor plates of up to 42,000 sf, the three-building complex provides over 560,000 rsf of Class A laboratory and office space. Every research suite is equipped with a modular benching system that is pre-plumbed and pre-wired for fast installation and effortless reconfiguration.

Goldman Sachs is partnering with Hunt Realty Investments and Hillwood Urban to create a $500 million corporate facility in Dallas. Designed by Henning Larsen, the 800,000-sf building will feature purpose-built workspaces that foster collaboration and productivity. Flexible meeting venues on every floor will promote formal and informal interaction, enhanced by an onsite café, a conference center, and numerous terraces and gardens.

Oxford Properties is transforming Victoria House in central London into a vibrant destination for biomedical research. Developed in partnership with Pioneer Group, the £70 million project involves the conversion of 220,000 sf of the building's 300,000-sf internal area to provide sophisticated wet labs and write-up areas.

Beacon Capital Partners and Trammell Crow Company are constructing Hyde Park Labs in Chicago. Designed by Elkus Manfredi Architects, Moody Nolan, and Interactive Design Architects, the $225 million project involves the creation of a 13-story building atop an existing retail podium. The completed 370,000-sf facility will offer 300,000 rsf of Class A lab and office space spread over nine floors.