Corporate

Vermeulens has released its market outlook report for the second quarter of 2021. Key points include:

Boston Properties broke ground in July of 2021 on a $105 million life sciences facility in Waltham, Mass. Designed by Stantec, 180 CityPoint will provide leasable lab and office environments with exceptional access to natural light and views. Featuring shared meeting spaces and a collaborative co-working nexus, the six-story, 329,000-sf building will include an expansive roof deck, a food hall, a wellness center, an indoor basketball court, and a 900-car parking structure.

DivcoWest broke ground in June of 2021 on a 375,000-sf life sciences facility in the Cambridge Crossing innovation district. Designed by Ennead Architects with Jacobs Consultancy as the architect of record, the collaborative building will provide leading-edge research environments for biomedical and pharmaceutical tenants. Comprising ten floors of lab space, two penthouse levels, and multiple outdoor terraces, the project will offer generous ceiling heights with minimal interior columns for optimal flexibility.

Demand for design services from U.S. architecture firms continues to grow at a vigorous pace, according to a report issued by the American Institute of Architects in June of 2021. AIA’s Architecture Billings Index score for May rose to 58.5 compared to 57.9 in April. Any score above 50 indicates an increase in billings, and May’s ABI score is one of the highest in the index’s 25-year history.

AbCellera Biologics is planning to break ground in late 2021 on a manufacturing plant for therapeutic antibodies in Vancouver, British Columbia. Supported by $175.6 million in federal funding, the 130,000-sf project will cost approximately CAD$240 million to build. Offering advanced production suites, labs, offices, and warehouse space, the GMP facility will enhance the country's ability to create vaccines in response to future pandemic threats.

Winstanley Enterprises broke ground in June of 2021 on a $100 million bioscience research center in New Haven, Conn. Designed by Elkus Manfredi Architects, the 10-story, 525,000-sf facility will provide leasable laboratory and office environments for biomedical companies and academic institutions. Featuring a large public plaza, the collaborative structure will include a 48,000-sf business incubator operated by BioLabs, a conference center, and a STEM classroom for K-12 education programs.

Kilroy Realty Corporation broke ground in June of 2021 on the second phase of construction at Oyster Point in South San Francisco. Comprising three buildings offering 860,000 sf of space, the $940 million project will provide leading-edge lab and office environments for biomedical and pharmaceutical tenants. LEED Gold sustainable design certification will be sought for the structures, which will incorporate 40,000-sf open floor plates, 22' by 33' column spacing, 16' floor-to-floor heights, and a floor load capacity of 125 pounds per square foot.

Trammell Crow Company opened the 301,260-sf Fulton Labs facility in Chicago in May of 2021. Developed in partnership with Portal Innovations, the 14-story life sciences hub provides leasable wet and dry research environments with column-free spans for maximum lab module efficiency. Offering vivarium access and 22,000 sf of luxury amenity space, the project incorporates mobile lab casework, overhead service carriers, robust mechanical and electrical systems, and smart windows for the protection of sensitive materials and equipment.

Johnson Controls International (JCI) launched OpenBlue Buildings as a Service in April of 2021. Offering a comprehensive portfolio of advanced solutions, the program allows building owners to transfer the full lifecycle risk of operations to Johnson Controls, which can include upfront capital and decision-making processes; responsibility for design, construction, and maintenance; and energy efficiency and emissions management.

Vermeulens has released its market outlook report for the first quarter of 2021. Key points include:

Greatland Realty Partners began construction in April of 2021 on Revolution Labs in Lexington, Mass. Designed by SGA, the three-story, 180,000-sf life sciences building will provide leasable laboratory and office facilities for biomedical and pharmaceutical companies.

Life sciences developer IQHQ began construction in April of 2021 on the $1 billion Fenway Center in Boston. Created in collaboration with Meredith Management, the biomedical research hub will be situated over the Massachusetts Turnpike on an air rights deck. The amenity-rich campus will include two towers offering 960,000 sf of leasable lab and office space, 10,000 sf of ground-floor retail, and an automated parking garage.

Arizona State University and Wexford Science+Technology opened the PBC Innovation Center on the Phoenix Biomedical Campus in March of 2021. Strategically collocating academic investigators with private companies to foster collaboration and discovery, the 225,000-sf facility provides wet and dry lab environments, offices, meeting spaces, and retail amenities.

The Olivia Business Centre was awarded the highest WELL Health-Safety Rating in March of 2021 by the International WELL Building Institute. Located in Gdańsk, Poland, the eight-building corporate park offers 2.5 million sf of world-class office space and accommodates over 200 companies. Achieving 25 out of 25 available points in all WELL Health-Safety categories, the complex leverages advanced infrastructure to continue operations safely during the COVID-19 pandemic. Features include:

Foghorn Therapeutics completed construction in March of 2021 on its 60,000-sf headquarters in Kendall Square in Cambridge, Mass. Spanning three renovated floors in the 500 Technology Square building, the collaborative facility provides leading-edge environments to support crucial biomedical research including chemistry and biology labs, open offices, conference rooms, and huddle rooms. TRIA designed the fast-track project, which was built by Wise Construction with R.W.