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Biomedical

Life Sciences Sector Experiencing Era of Unprecedented Growth

Published 2/17/2021

The life sciences sector is experiencing an era of unprecedented growth driven by a surge in both public and private funding combined with a post-pandemic sense of urgency and market opportunity. According to a report released by Newmark in January 2021, more than 36 million sf of new construction is expected to be delivered in the nation’s top 14 life science markets, as life science investments more than triple. While demand for life science and biotech facilities has been growing steadily over the past decade, the COVID-19 crisis heightened national awareness around the need for increased research, diagnostic, and domestic manufacturing capabilities. Investors are also seeing significant potential in the future of personalized medicine, genomics, and other life science-related fields, as emerging technologies and research disciplines converge.

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Vermeulens Releases Q4-2020 Market Outlook

Published 2/15/2021

Vermeulens has released its market outlook report for the fourth quarter of 2020. Key points include:

Construction Prices: Remain flat through Q4 of 2020, with one in ten projects showing cost reductions with strong contractor coverage across the board.

Fed Watch: The Federal Reserve continued monetary stimulus.

Architectural Billings: Q4 has returned to growth in inquiries; however, three quarters of billing declines in 2020 will result in a lower volume for the first half of 2021.

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University of British Columbia Plans School of Biomedical Engineering Building

Published 2/12/2021

The University of British Columbia is planning to construct the CAD$136 million School of Biomedical Engineering Building on the Point Grey campus in Vancouver. The 151,305-gsf facility will accommodate teaching and research labs, collaboration spaces, meeting rooms, and offices. Featuring innovative learning venues for undergraduate and graduate programs, the building will provide classrooms, a 250-seat lecture hall, and a central atrium for informal learning and interaction.

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Caltech Dedicates Chen Neuroscience Research Building

Published 2/8/2021

Caltech dedicated the $210 million Tianqiao and Chrissy Chen Neuroscience Research Building in January of 2021 in Pasadena. Designed by SmithGroup to promote interdisciplinary collaboration, the 150,000-sf facility provides wet, dry, and computational research labs for the Division of Biology and Biological Engineering. Standing three stories above grade with two basement levels, the structure includes teaching labs, a neurotechnology lab, a 150-seat lecture hall, conference rooms, and offices for investigators and staff.

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Civica Rx Begins Construction on Essential Medicines Manufacturing Facility

Published 2/5/2021

Civica Rx began construction in early 2021 on a $124.5 million pharmaceutical manufacturing center in Petersburg, Va. Created in collaboration with Phlow Corp., the 120,000-sf plant will produce sterile injectables for the treatment of COVID-19, emergency room and intensive-care unit treatments, surgeries, and other serious conditions. The facility will feature steam sterilization capabilities, disposable technologies, and advanced automation systems for visual inspection and packaging.

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BioMed Realty Plans Assembly Square Innovation Campus

Published 2/1/2021

BioMed Realty is planning to create a life sciences innovation campus in Somerville, Mass. The project includes the renovation of an existing 162,000-sf office building and the construction of new facilities on an adjacent 7.5-acre parcel. Offering leasable environments for biomedical, pharmaceutical, and technology companies, the Assembly Square complex will provide 1.3 million sf of research, corporate, and retail space. The mixed-use development will feature multiple roof terraces and a one-acre public park. BioMed Realty acquired the property in early 2021.

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Oxford Properties Expands Life Sciences Portfolio

Published 1/20/2021

Canadian developer Oxford Properties has expanded its real estate portfolio in the United States with the acquisition of four new assets. Representing an investment of $276 million in the burgeoning life sciences industry, the purchase included a total of 415,000 sf of existing space and associated developable land. Oxford Properties plans to spend an additional $500 million to repurpose, renovate, and expand the four structures to create leading-edge lab and office environments for biomedical tenants. 

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BioMed Realty Creates Life Sciences Hub in Boston’s Seaport District

Published 1/11/2021

BioMed Realty is creating a 482,000-sf life sciences hub in Boston's Seaport District. Previously serving as the corporate headquarters of John Hancock, the building was acquired by BioMed Realty in late 2020. Featuring robust mechanical and electrical systems, the existing structure has attained LEED Platinum sustainable design certification and includes a variety of collaborative meeting areas. The facility will be renovated to provide sophisticated lab and office environments for biomedical companies. Occupancy is expected in the second half of 2022. 

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Thermo Fisher Scientific Expands Global Pharmaceutical Production Capacity

Published 1/4/2021

Thermo Fisher Scientific is expanding its global production capacity for vaccines, medicines, and biologic therapies. Construction will begin in mid-2021 on a 130,000-sf facility in Greenville, N.C. Slated for completion in 2022, the standalone structure will accommodate two live-virus filling lines. The project is part of a $500 million investment in the site that will add six new lines in existing buildings to support commercial-scale liquid vial filling and the creation of lyophilized materials. 

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Millennium Partners and Beacon Capital Plan Boston Life Sciences Facility

Published 12/28/2020

Millennium Partners and Beacon Capital Partners will begin construction in late 2021 on a 380,000-sf life sciences facility in Boston. Designed by Handel Architects in collaboration with STUDIO ENÉE, the mixed-use development will provide leading-edge laboratories, offices, and R&D suites clustered around a collaborative open space. Located on 4.6 acres in the Raymond L. Flynn Marine Park, the eight-story project will feature a central core of corrugated metal to celebrate the area's industrial heritage.

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Nationwide Children's Hospital Constructs Gene Therapy Manufacturing Center for Andelyn Biosciences

Published 12/21/2020

Nationwide Children's Hospital is constructing a $100 million gene therapy manufacturing center in Columbus, Ohio. The 185,000-sf facility will enable Andelyn Biosciences, a for-profit subsidiary of Nationwide Children's, to supply pharmaceutical and biotechnology companies with genetic material for use in research and clinical trials. Located in The Ohio State University's Innovation District, the leased structure will feature advanced cGMP environments for commercial-scale manufacturing.

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Stanford University Opens Biomedical Innovation Building

Published 12/16/2020

Stanford University dedicated the $210 million Biomedical Innovation Building in November of 2020 in Palo Alto, Calif. Designed by ZGF Architects with Research Facilities Design (RFD) as laboratory design consultant, the 190,439-gsf facility strategically collocates investigators with expertise in cardiovascular medicine, pediatrics, orthopaedics, immunotherapy, personalized genomics, otolaryngology, and asthma and allergy.

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Institute of Cancer Research Opens Centre for Cancer Drug Discovery 

Published 12/7/2020

The Institute of Cancer Research (ICR) opened the £75 million Centre for Cancer Drug Discovery in London in November of 2020. Located in the borough of Sutton, the 78,580-sf facility features team laboratories where biologists, evolutionary scientists, chemists, pharmacologists, data scientists, and clinicians can discover new solutions for cancer evolution and drug resistance.

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