Corporate

Novo Nordisk has executed a long-term, full-building lease for a 165,940-rsf property at the Alexandria Center for Life Science in Waltham, Mass. Located at 60 Sylvan Road, the research facility is being redeveloped to provide next-generation environments for biomedical discovery. Neighborhoods of labs, offices, and collaboration spaces will foster interaction between investigators to accelerate the discovery and commercialization of new therapies. Occupancy is expected in 2025.

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 (IDEA), 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.

Kadans Science Partner is planning to construct a 139,000-sf research facility in Cambridge in the United Kingdom. Featuring a modular layout that can accommodate multiple tenants or a single entity, Merlin Place will provide best-in-class lab environments for the creation of new therapies, medical devices, and digital healthcare solutions. A flexible structural grid with adaptable floor heights will support a range of configurations, with vibration-mitigated suites available for sensitive instrumentation.

Regeneron Pharmaceuticals is planning to establish a biomedical research facility in Suffern, N.Y. The company recently invested $39 million to acquire the 235,000-sf Avon Innovation Center. Sited on 10 acres, the three-story structure originally housed chemistry labs and support spaces for the development of cosmetics, fragrances, and skincare products. HLW designed the facility, which was constructed between 2003 and 2005 by Skanska USA Building.

AstraZeneca is investing $300 million to establish a cell therapy manufacturing facility in Rockville, Md. Developed by Alexandria Real Estate Equites, the Class A+ property is located in the vibrant innovation ecosystem of the Alexandria Center for Life Science at Shady Grove. AstraZeneca has executed a 13-year lease for the entire 84,264-rsf building.

Alexandria Real Estate Equities opened a 215,000-sf life sciences center in early 2024 in San Francisco’s Mission Bay district. Designed by IwamotoScott Architecture in association with DGA and Powell Architecture, the seven-story building provides 133,000 sf of Class A lab space, 50,000 sf of office space, and 2,600 sf of ground-level retail.

Breakthrough Properties broke ground in February of 2024 on a 175,000-sf life sciences center in Cambridge in the United Kingdom. Designed by Henning Larsen and Feilden+Mawson, the five-story building will offer modern, flexible laboratories with integrated write-up areas. Vitrum by Breakthrough will also provide world-class offices, meeting rooms, collaboration spaces, and amenities. On the ground floor, a spacious lobby will open onto a landscaped square, complemented by outdoor terraces on the upper levels.

The University of California is transforming a former shopping mall into a vibrant destination for research and innovation in Los Angeles. Purchased for $700 million from Hudson Pacific Properties and Macerich in December of 2023, the reimagined Westside Pavilion will collocate the California Institute for Immunology and Immunotherapy and the Center for Quantum Science and Engineering in the planned UCLA Research Park.

Marshall University opened the Brad D. Smith Center for Business and Innovation in January of 2024 in Huntington. Designed by Perkins Eastman, the 77,000-gsf facility provides the Lewis College of Business with state-of-the-art finance and computer labs, a maker space, offices, study areas, and a 360-seat auditorium. Technology-enabled classrooms that range in size from 32 to 96 seats are furnished with flip-top nesting desks on wheels for optimal flexibility.

Trammell Crow Company is developing Science Square in Atlanta to provide Georgia Tech with state-of-the-art facilities for learning, research, and innovation. Ground was broken in September of 2023 on the third phase of construction at the site, a 416,500-sf complex with two towers linked by a shared circulation core. Envisioned as a vertical quad, this dynamic social zone will offer myriad collaboration venues with a large gathering area for presentations and events.

Wexford Science + Technology will break ground in mid-2024 on Brightwork, the anchor building for the University of Washington’s planned innovation district in Seattle. The 345,000-sf facility will be constructed by Wexford for an estimated cost of $282.5 million, with UW investing $72 million for tenant improvements. After an 80-year lease, the 11-story structure will revert to university ownership.