Corporate

Gattuso Development Partners and Vigilant Holdings broke ground in February of 2023 on a $450 million life sciences center in Philadelphia. Located in the University City district on the campus of Drexel University, the 11-story, 519,647-rsf building will provide wet and dry research labs for the creation of novel therapeutics and medical technologies. Drexel will occupy 60,000 sf in the collaborative structure to enable the growth of core R&D functions and selected academic programs.

Wexford Science+Technology broke ground in January of 2023 on the 300,000-sf Howard R. Levine Center for Education in Charlotte. Designed by Ayers Saint Gross, the project will provide Wake Forest University’s School of Medicine with world-class teaching labs, active learning classrooms, and areas for formal and informal collaboration. The vibrant facility will also accommodate Atrium Health's Carolinas College of Health Sciences and space for Wake Forest's business and professional studies programs.

NexCore Science & Technology will begin construction in fall of 2023 on the 400,000-sf Global Energy Park in Golden, Colo. Strategically sited within walking distance of the U.S. Department of Energy's National Renewable Energy Lab, the 9.3-acre development will offer leading-edge environments for the discovery and commercialization of clean energy technologies. Tenants will benefit from access to NREL's research ecosystem including computing equipment, testing resources, and visualization capabilities.

Apollo Global Management is partnering with GeneSuites to create the Catalyst BioCampus in Holly Springs, N.C. Located in the Oakview Innovation Park, the 446,000-sf development will provide high-performance shell space where life science companies can accelerate the production of next-generation therapeutics. Apollo and GeneSuites paid $40.5 million in December of 2022 for the property, which comprises two 105,000-sf buildings and seven acres for future expansion.

The University of Texas at San Antonio opened the $91.8 million San Pedro I building in January of 2023. Designed by Jacobs and Overland Partners, the six-story, 167,000-sf structure provides the School of Data Science with 84,000 sf of classrooms, labs, and offices for the departments of computer science, computer engineering, information systems and cybersecurity, and statistics and data sciences.

The Hurley Group has transformed an existing office building in New Haven to create the Elm City Bioscience Center. Designed by Svigals + Partners, the adaptive reuse project offers over 100,000 sf of leasable research space for startup companies. Featuring BSL-1 and BSL-2 environments, the eight-story biotech hub provides lab suites with adjacent work areas, meeting rooms, and break rooms. Advanced mechanical, electrical, and plumbing systems enable the structure’s 12,000-sf floor plates to easily adapt to changing requirements and configurations.

Lincoln Property Company and FCP are constructing the Colorado Research Exchange (CoRE) in Broomfield to provide leading-edge lab and office environments for biomedical, pharmaceutical, and technology companies. Designed by HKS Architects, the 461,500-rsf complex will include three structures ranging from 114,000 sf to 173,000 sf. Supported by advanced HVAC systems and emergency backup generators, this innovation ecosystem will offer leasable floor plates of up to 40,000 sf with ceiling heights between 14 and 18 feet.

The Centre for Process Innovation (CPI) opened the Medicines Manufacturing Innovation Centre in December of 2022 in Inchinnan in the United Kingdom. Situated in the heart of the Advanced Manufacturing Innovation District Scotland, the £88 million facility features sophisticated GMP environments where new pharmaceutical production methods can be proven at scale.

Vermeulens has released its market outlook report for the third quarter of 2022. Key points include:

Thor Equities opened a 350,000-sf research facility in Jersey City in October of 2022. Designed by SGA, the adaptive reuse project transformed a former toothpaste factory into a vibrant R&D center offering leasable lab and office environments. Featuring a selection of suites with infrastructure, casework, and equipment already installed, the eight-story structure integrates flexible floor plates, multiple utility grids, an onsite life safety generator, and 125 underground parking spaces.

King Street Properties broke ground in October of 2022 on the $915 million Allston LabWorks complex in Boston. Designed by DiMella Shaffer, the vibrant life sciences campus will provide 534,000 sf of leading-edge lab and office space across two research buildings. Standing six and eight stories high, the highly efficient structures will feature generous floor-to-floor heights to accommodate sophisticated instrumentation.

Amgen opened a 245,000-sf R&D center in South San Francisco in October of 2022. Located on the Gateway of Pacific life sciences campus in Oyster Point, the leased facility was designed by Flad Architects and developed by BioMed Realty. Featuring modular wet and molecular labs, the nine-story tower accommodates Amgen's research programs in oncology, inflammation, and cardiometabolic diseases. Flexible floor plates integrate lab and office functions, with open work spaces and movable furnishings promoting collaboration and interaction.

The Eli and Edythe L. Broad Institute, a nonprofit research organization affiliated with MIT and Harvard University, is expanding its presence in Cambridge with the long-term lease of a 225,000-sf facility. Developer Boston Properties is transforming an existing six-story building at 300 Binney Street into a state-of-the-art biomedical hub where interdisciplinary teams will engage in collaborative research and discovery.

Ivanhoé Cambridge and Lendlease broke ground in September of 2022 on FORUM, a $500 million life sciences facility in Boston. Designed by SGA, the nine-story, 350,000-sf building will provide state-of-the-art labs and offices for biomedical and pharmaceutical companies. An expansive lobby will open onto a plaza partially covered by the structure’s high-performance façade. The publicly accessible ground floor will house a lounge, a café, a community living room, and an art gallery.

Florida Polytechnic University opened the $47 million Applied Research Center in August of 2022 in Lakeland. Designed by HOK, the 90,000-sf facility provides teaching and research labs, student design spaces, conference rooms, faculty offices, and administrative space. Catalyzing entrepreneurship and economic development, the two-story structure will play a pivotal role in expanding academic program offerings and resources to support the university’s growing student population.