For further information, please contact: Note you are now viewing the Colliers United States website. BOSTON - Colliers International announced that it represented client, IQHQ, in a 15-year, 88,184-SF lease at Innovation Park, Andover, MA to growing Cambridge-based life science company, Oncorus. New deliveries in 2022 will open the door for more absorption. Whether due to reduced space needs stemming from weakened macroeconomic conditions (e.g. Navigating this quickly-shifting sector requires deep expertise and a team of committed professionals, which Colliers has plenty of. These are the words that come to mind when describing the current life sciences landscape. In addition, he has completed over 200 tenant representation transactions totaling more than 2 million square feet. From research and development lab product to cGMP manufacturing spaces, tenant and investor demand has soared, mostly in the nations largest and most well-established life science hubs. IQHQ acquired the 211,940-SF life science campus from owner-occupier, Eisai, Inc., back in early 2020, and in partnership withColliershas completed leases to UMASS and Ora Clinical in addition to this latest signing. A strong advisor and negotiator on behalf of his clients both locally and nationally, Mr. Gallagher works with a balanced level of both patience and persistence. Copyright 2022 Colliers International Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. Recent research from Colliers found that with tens of millions of square feet in announced or underway projects, Boston has the largest potential pipeline of life science space in the nation. The top 12 markets have a combined 13.8 million square feet underway. 40th Annual Trends In the Real Estate Market Seminar - Connecting the Dots with Colliers International, Development and Consulting Services Group, Colliers Facilitates 81,293 SF Flex Sublease in Franklin on behalf of Tegra Medical, Broder Acquires $46M Life Science Campus Arranged by Colliers, Colliers Capital Markets Team Continues Growth with Addition of Matthew Sherry, Colliers Rounds Out Investment Sales Group With Multifamily Specialist Kendin Carr. A 14-year professional in the Life Science industry, Michael Anderstrom represents clients the sale or leasing of lab, cleanroom manufacturing, and flex space. That has changed. Freudenheim Partners Arranges 30,000 SF Relocation and Expansion for Cyprotex, Professional Development Institute: Effective Communication Igniting Your Competitive Edge, Commercial Property Acquisition and Sale Due Diligence: Key Issues and Best Practices, Boston Real Estate Timess Outstanding Women of 2023, CBRE Arranges Sale of 246-Unit Halstead Milford, AGC MA announces 2023 BWIC Inspire Awards Winners, Arcadis DPS Group Welcomes Chris Oldham as Director of Project Management, Chapman Construction Completes LEED Renovation for Boston Universitys Student Health Services. Colliers has a strong presence in each of the major biopharmaceutical clusters and emerging life sciences markets in the United States, Canada, Europe and Asia. IPO numbers were off the charts, VC funding set new highs, and NIH grants increased, all creating unprecedented demand for life science properties. Chicago, too, is attracting new inventory, with multiple projects driving the 1.2 million square feet of development (20% of inventory). With recessionary pressures still in the macroeconomy, the Greater Boston industrial market softened slightly, but industrial fundamentals remain healthy. WATERTOWN, MA, October 8, 2021 Colliers (NASDAQ and TSX: CIGI) announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. Additionally, he has represented institutional ownership in the disposition and acquisition of land, buildings, build-to-suits and large-scale lease transactions. Colliers announces it has arranged the $46.5 million sale of a lab campus marketed as Pleasant Street Science Park in Watertown, Massachusetts. Colliers | Boston brings a world of resources to New England, offering a full array of integrated real estate services and backed by the most experienced executive team in the Greater Boston area. As Research Director | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. Boston and the San Francisco Bay Area led the country in absorption, inventory, and VC funding, of which nearly 60% made its way to those two markets, per PitchBook. Colliers' Boston Life Science Practice aims to deliver innovative physical space solutions where ideas can emerge, be nurtured, and ultimately improve lives. Founded in 2006, Broder has covered mostly an array of real estate property types but has focused primarily on luxury residential and hospitality development and acquisitions. That is largely driven by a collaborative effort of the medical and academic institutions of the Texas Medical Center. Jack works to createvalue for his clients through an understanding of the local as well as global commercial real estate market. For now, the Boston metropolitan area, including Cambridge, is slightly smaller with about 32 million square feet (3 million square meters) of life-sciences space, compared with almost 34 million . Boston, for one, had $5.7 billion in investment in existing office, lab, and industrial/flex buildings last year. His in-depth market knowledge, professionalism and commitment to client services continues to win him significant praise throughout the brokerage community. I haveexperience with Advanced Therapeutic Medicinal Products, Parenteral Fill Finish, Solid Oral Dosage, Biologics, and Medical Device manufacturing facilities, as well as a solid background in Laboratory Research and Development/Pilot scale facilities andcontrolled environments. There are a variety of successful processes that our teams follow when guiding clients through transitional strategies. For the early- and mid-stage companies, whether theyre private or public, it comes down to two things. Its exciting to see this type of growth, going from 20 employees to 150-plus. And growth is spreading beyond the most established markets. Were thrilled that we will be developing a state-of-the-art clinical manufacturing facility at Innovation Park in Andover, said Steve Harbin, Chief Operations Officer and Chief of Staff at Oncorus. The next tier is Philadelphia, San Diego, and New Jersey; Raleigh-Durham is its own tier, and other markets fall in line thereafter. The latest Tweets from Colliers Life Science | Boston (@LifeSciColliers). Barry Brings 15 Years of Experience Advising Industry-Leading Life Science Clients in the Boston Region. Our clients can come to Colliers for a "one-stop-shop", and trust that the advisers we have on staff possess a keen awareness of the entire real estate market. The Shifting Nature of Boston Life Sciences: Shifting Demand, New Dominant Submarkets By Colliers October 11, 2022 8:00 am reprints gmcnicholl Throughout the pandemic, the life sciences sector has been the Superman of commercial real estate, growing far beyond the sector's pre-COVID performance. An unexpected error has occurred. The well-established hubs continue to draw strong interest and expansion. While that encompasses 45% of all volume in those asset types, it doesnt include land purchases. Joe is a Healthcare Fellow and serves on Colliers National Healthcare Services and Life Sciences Steering Committees. Weve seen established and well-leased product in core locations, where the buyers have typically had a strong foothold in the market for years, and weve seen a lot of development and conversion plays. Breakthrough Properties first quarter completion of The 105 added 260,000 square feet at the Seaport, fully leased by CRISPR. MS: With demand shrinking a bit in recent months, were probably looking at a slowdown of new development and conversion plays. As more projects deliver and companies set up shop, the market will solidify its status as the nations leading biotechnology hub. After carefully listening to your vision, we customize each process to deliver the best results that match your checklist of goals. Holmes Sells 165 Flagship Drive in North Andover for $4,650,000. Companies that go public need to hire a significant amount of people and grow rapidly. Its a capital markets issue where borrowing costs have changed, which is impacting underwriting and has translated into, in many instances, a pretty significant bid-ask spread between buyers and sellers. Check out the content from some of our most recent events, including our January 10th40th Annual Trends In the Real Estate Market Seminar - Connecting the Dots with Colliers International. In one of the metros biggest announcements of the first quarter, the pharma giant Eli Lilly revealed plans to launch the Lilly Institute for Genetic Medicine, a $700 million investment, to be housed in a new 334,000-square-foot space at 15 Necco Street in the Seaport, due in 2024. Originally from South Boston, Barry lives in North Reading with her husband and five-year old son. At the same time, he promotes the Colliers brand via best-in-class research reports, weekly insight posts, thought leadership, and contributions to numerous panels, media outlets, and industry events. With space availability below 2%, the space crunch has yet to abate. Thats empowering to them and exciting for the biotech community. Boston, MA Colliers has appointed Kim Barry as senior vice president in the Boston life science practice group. An unexpected error has occurred. Chris Stickney serves as the Managing Director of Colliers' Boston Office which provides valuation and advisory services throughout New England. Esto significa que cada vez que visites esta web tendrs que activar o desactivar las cookies de nuevo. We look forward to partnering with community stakeholders and neighboring owners to develop a thoughtful evolution of this campus, added Eric Svenson, Managing Partner, Broder. His comprehensive approach including assisting clients to identify an efficient spaceprogram; impartially surveyall viable properties;tenaciously negotiating favorableterms; and procuringarchiects, contractors andconsultants for implementation. Copyright 2022 Colliers International Our U.S. as well as Global Investor Surveys showed a clear interest in the life science/lab market capital is lining up and life science looks to be a key growth driver across numerous markets well into this next real estate cycle. Seaport also continues to be hot. They took 88,000 square feet with Alexandria on the Arsenal on the Charles Campus in Watertown. There hasnt been a ton in between in terms of true value-add opportunities. Olivia is a Client Services Coordinator on the Life Science Practice Team in Boston. My acquired knowledge in life science work has been on both the landlord (Wexford Science & Technology) and the tenant side within the industry. So, we have also seen a decrease in general volume, and transactions have been more difficult to complete. Twitter Putting Majority of NYC Offices Up for Sublease. David and wife Kristy met at the University of Illinois, married in 2001, and are blessed withthree teenage sons. Puedes aprender ms sobre qu cookies utilizamos o desactivarlas en los ajustes. Our collaboration with your internal and external vendor teams for design and engineering is critical to your and our ability to set realistic expectations for budgets, occupancy, and final validation. Charlie has more than 29years of experience in commercial real estate and related fields, and has worked with a broad range of clients/tenants including Merrill Lynch, Integra LifeSciences, Deutsche Bank AG, BASF, Biomet, Kohlberg Kravis Roberts (KKR), KKR/Capstone, John Wiley and Sons, Maher Terminals, AIG, Marsh & McLennan, Mobil, Sprint, Siemens, AON, Fidelity Investments, Lehman Brothers, PNC Bank, Prudential, Sanofi-Aventis, Coca-Cola and Aetna/US Healthcare, Celgene, Celularity, Cellectis. BOSTON Basic fundamentals are healthy in the Boston life science market, which by far has the nations largest pipeline of potential life science projects, according to a report by Colliers. Phone: 646.660.8644 Boston, MA (617) 330-8000 Website @ColliersIntl Overview COLLIERS INTERNATIONAL - COMPANY OVERVIEW Colliers International has been an active participant in the Life Science/Biotechology real estate markets since the early 1980s when the biotechnology industry started to take shape in Cambridge. Our reputation for delivering results spans more than 135 years. Evan Gallagher: The long-term view for the life science ecosystem remains really strong, but demand has dropped. All Rights Reserved. What have you been seeing over the past few years in Boston life sciences? Colliers arranged the financing on 30 Dan Road as well as the $21 million sale of the Canton, Massachusetts property. With a deep understanding of markets throughout the country, he provides a unique perspective on market dynamics across asset types and investment strategies, providing clients with tailored data and analytics to ultimately guide decision-making solutions. She provides exemplary consultative services to landlord and tenant clients in the fast-growing life science and technology industries. Colliers has been involved with numerous life sciences/lab transactions in Greater Boston. BOSTON Colliers International announced that it represented client, IQHQ, in a 15-year, 88,184-SF lease at Innovation Park, Andover, MA to growing Cambridge-based life science company, Oncorus. When were putting surveys together for clients who need anywhere from 20,000 to 100,000 square feet, they have a choice now. David is a leader in several practice groups, including Financial & Insurance Services, Life Science Practice Group, and the Education Services Group. Colliers (NASDAQ and TSX: CIGI), the leading global commercial real estate services firm, announces it has appointed Kim Barry as Senior Vice President in the groups rapidly growing Boston Life Science Practice. Both projects were built to LEED Platinum standards and have won numerous design awards. Recently, Colliers Capital Markets worked with King Street Properties on the disposition of 33 New York Avenue, a lab conversion project in . Growth is happening in the Washington, D.C./Maryland market, as well as in Seattle, Chicago, and New York City. While the market momentum continued into Q3 and Q4, the Philadelphia Life Sciences Cluster began to show indications that it was not immune from the impacts of rising interest rates, inflation and more conservative investment attitudes towards both real estate and early-stage drug development. This facility will play a central role in enabling us to advance our mission to realize the full promise of viral immunotherapy for cancer patients.. He has spent 30 years working in the industry, focusing on companies within the life science, pharmaceutical, biomanufacturing and technology industries. What has happened to rents in the region since the start of the pandemic? Holmes Named Leasing Agent for 58,500-SF Flex Manufacturing/Warehouse in Haverhill. our team has the market knowledge and connections to Boston Has the Largest Potential Pipeline of Life Science Space in the Vertex Pharmaceuticals to occupy Related Beals planned development of 22 Drydock Avenue, Boylston Properties Launches Property Management Arm, Cresa Publishes Data-Driven Insights & Predictions for Greater Boston Real Estate Markets, R.W. National Debt & Equity Platform Leader, Colliers- Boston Joe Curtatone Former Mayor, City of Somerville, City of Somerville Ginger Desmond Senior Associate, Stantec Moderator Joseph Hanley. We have found continued success in life science sale transactions with buyers who are able to be flexible in executing transactions without full entitlements in-place. Following a 132-year period operating as Meredith & Grew, the company embraced a new chapter when Colliers International purchased an 80% interest in the company, allowing the remaining 20% to be locally owned and managed. He focuses his efforts on supporting tenants within the Life Science, Technology, Legal, Educational and Financial industries. Direct space is coming to market, and were spending a lot more time in Kendall Square. Watertown is emerging as an important community tied to the life science industry. These factors are driving tremendous growth in both established life science hubs and numerous other markets. Located at the intersection of Rosedale Road and Pleasant Street, the three-building lab campus offered an attractive in-place cash flow with a roster of six tenants. Dynamic. In a world of constant news and a sea of information, Colliers International | Boston's team of market experts develops and hones the insight, actionable analysis and market intelligence you need to navigate the constantly changing dynamics of the Greater Boston market. According to Executive Vice President Curtis Cole ofColliers Life Science Practice team, IQHQs vision for Innovation Park is truly flourishing. Colliers Life Sciences Review - Boston - Free download as PDF File (.pdf), Text File (.txt) or read online for free. Advances in technology and science put drug discovery on a level never before seen. With a net of more than two million square feet of additional occupied space in 2022, the metros life sciences sector expanded for the ninth consecutive year. Colliers announces it has secured an 81,293 square-foot sublease on behalf of Tegra Medical at 9 Forge Parkway in Franklin. Earlier in his career, David also workedon Capitol Hill developing a specialty in economic incentives and later as a site selection consultant at Arthur Andersen LLP before earning his MBA and focusing on corporate real estate advisory and brokerage services. Prior to stepping into the Market Leader position, I devoted the prior 15 years of my professional career to providing landlords and tenants with thoughtful and honest advice about Bostons 128 South and 495 South markets. IPOs also set new highs. With a deep understanding of markets throughout the country, he provides a unique perspective on market dynamics across asset types and investment strategies, providing clients with tailored data and analytics to ultimately guide decision-making solutions. Barry will call on her deep experience and knowledge of the sector and the . His practice involves creating effective real estate solutions for his clients, locally and globally, and landlord representation for primarily office and industrial properties. Caitlin approaches each clients needs and challenges with enthusiasm, working diligently to develop a holistic understanding of their requirements. Upon Oncorus joining the tenant roster, approximately 100,000 SF of vacancy will remain available for lease. Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. As more product is completed, liquidity should only increase. 313 Pleasant St. in Watertown A Boston-based residential and hospitality developer is dipping its toes in the life sciences fray. I am passionate about my mission to to champion a Colliers Boston that is grounded in integrity, teamwork, open communication, diversity and inclusion, and a client first approach. Notably, Broder has recently completed two significant projects in Chicago and the Berkshires. Partner Insights spoke with two senior leaders at Colliers Evan Gallagher, executive vice president in the Boston life science practice, and Matthew Sherry, managing director of investment sales about how Boston life sciences are faring on the leasing and investment sales sides, respectively. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Read the interview. Myknowledge of market conditions and influences in the life sciences supports my ability to be creative in structuring the financial details of both lease and purchase transactions. He leadsteam of six professional who specialize in local brokerage and account portfolio management. EG: Rent shot up significantly earlier in the pandemic, and the past six months have seen them stabilize. But ultimately, the outlook for future absorption is positive. Whether you are looking to lease or invest in a rese The overall availability rate in the metro ticked up to 2.4% in the first quarter due to tenants returning space to the market and some new space not yet being fully committed. The inventory in Cambridge is mostly controlled by long-term holders, so the buyers saw this as an opportunity to plant a flag in the most core life science market in the world. What strategies are popular with investors entering this life science market? But other markets are aiming to make their mark as well. Vacancies in most markets are incredibly low, many below 5%, indicating more space is needed for expanding tenants. Matt Sherry: What were seeing on our side is similar. Companies coming up with groundbreaking medicines have significant optionality, whether its in the sublease market were seeing 70 subleases throughout greater Boston, as opposed to zero a year and a half ago or on a direct basis within submarkets throughout greater Boston. . Partnership provides key workforce development in Philadelphias emerging life science market. Thats pretty drastic. From a scale perspective, the San Francisco Bay Area and Boston rank first and second, respectively. Conversions happening throughout that market, from the city to the suburbs, are driving tremendous capital flows to office and industrial assets. Read the latest edition of the Commercial Observer online! Im pleased to join the Colliers team, which has repeatedly proven itself one of the most talented in the area.. Jack Blumenfeld is an Associate specializing in Class A Office/Flex/Life Science tenant representation and investments inthe UTC San Diego office of Colliers International. He synthesizes and interprets a variety of data and information to stay ahead of trends that put our clients in an optimal position to make informed decisions. Scribd is the world's largest social reading and publishing site. EG: We do a fair amount of tenant representation. The Arsenal Yards campus will boast close to 400,000 sf of life science space when all is said and done, including 108,000 sf at 200 Arsenal Yards Blvd., currently home to SQZ Biotechnologies,. Barry will call on her deep experience and knowledge of the sector and the region to help industry-leading life science companies find and develop space that meets unique business and operational requirements in the ultra-competitive Boston market. They have great backers, like Arch Ventures, which is one of the most active groups out there currently. 11/19/2020 - King Street plans $500M biomanufacturing campus in Devens. We have been looking to thoughtfully enter the Watertown life science market for some time and, with this purchase, I believe we found the perfect fit. Copyright 2012 - 2023 | citybiz | All Rights Reserved, Advertising / Media / Communications / Public Relations. Outstanding Women of Commercial Real Estate 2023 Announced, Will be Honored Bostons Largest Architectural Firms: 2023. People credit this to two things. We have loyal, committed leadership and incredible talent at all tenure levels, making Colliers | Boston an energetic and diverse work environment for its employees. sophisticated projects. Note you are now viewing the Colliers United States website. Empty space is rare. Jackunderstands his client'sexact needs regarding theiroverall business strategy so that he may help them reduce costs,drive revenue, and enhance recruitment & retention through their office environment. 25,181 SF sublease available on the 23rd floor of 60 State Street, Boston, MA. Available Immediately Full Floor Opportunity | 23rd Floor Term through September 2030 Fully Furni . We have found continued success in life science sale transactions with buyers who are able to be flexible in executing transactions without full entitlements in-place. Throughout his career with Colliers International, John has represented numerous owners in the leasing of over 3 million square feet of space. Si desactivas esta cookie no podremos guardar tus preferencias. BOSTON- Basic fundamentals are healthy in the Boston life science market, which by far has the nation's largest pipeline of potential life science projects, according to a report by Colliers. Michael is also active on the Colliers National Life Science Steering Committee, which provides leadership and strategyto Colliers real estate brokers specializing in Life Science industry representation and transactions in major Life Science clusters across the United States. Given the current scale of investment in Boston and the San Francisco Bay Area, along with their future development pipelines, they will continue to remain the most sought-after markets in the country. He is currently assisting in multiple transactions in the majority ofSan Diego County markets as well as around the United States. Our reputation for delivering results spans more than 135 years. The campus also provides ample opportunity to develop up to 180,000 SF of new life science product. Esta web utiliza cookies para que podamos ofrecerte la mejor experiencia de usuario posible. EG: Big Pharma has been extremely active over the last 120 days. Big leases are closing and millions of square feet worth of tenants are looking for space, according to the report. We were very impressed by Broders ability to uniquely comprehend and appreciate the value of life science at this instrumental location, Top 25 U.S. Industrial & Logistics Market | Winter 2022. As a member of the Boston Life Science Practice Team, Caitlin supports a wide range of tenants, from Discovery through Commercial functions. Jumbo Capital and Apollo Group have obtained $57.7 million in financing from Cambridge Savings Bank to fund a planned conversion of a Boston-area office property into a life sciences-oriented manufacturing facility. David specializes in tenant representation for office, lab, industrial, retail, education and specialty facilities. Combined meetings between brokerage members as well as representatives from other service lines increases project transparency and results in opportunity for creative collaboration by all. Our Colliers life sciences expert will work with you to find the right capacity and environment to maximize efficiencies and minimize costs. Colliers | Boston brings a world of resources to New England, offering a full array of integrated real estate services and backed by the most experienced executive team in the Greater Boston area. Jake Klein Colliers Inks 88,184-SF Life Science Deal in Andover, Connolly Brothers Receives Silver Award from DBIA New England, SGA Celebrates 30 Years of Design Excellence, New England Ice Cream Corporation Leased a 15,571-SF Industrial Building. Executive Vice President | Healthcare and Life Sciences, Joe joined Colliers International in 2012 to lead and grow Colliers Office Brokerage Division. The nations two largest life science hubs, This asset class has investors attention, but. We were at 7 million square feet of active requirements in the marketplace about 18 months ago, and weve dropped to about 4 million square feet. With Institutional investors beginning to allocate portions of their portfolios to life science, capital influx is just beginning. The life science market had an IPO once every three days in 2020, setting a new record for IPO launches that easily surpassed the previous high-water mark of 73 in 2018. Kim is an innovative problem-solver with a proven track record of success, said Evan Gallagher, Executive Vice President of Colliers Life Science Practice. Conversions are taking place across the country, but the scale at which they are growing in Boston is second to none. Terms of Use As part of the Life Science team, Tim actively represents Tenants and Landlords locally and globally. Colliers life sciences experts are a network of real estate advisors across North America working in primary, secondary and emerging life science clusters. Investors poured record venture capital (VC) funding into the life science industry in 2021. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn. Through my work on local, regional and national site selection assignments, I havedeveloped a firm grasp of the rigorous process required to meet the key search criteria of my clients. Please try again. Ms informacin sobre nuestra poltica de cookies, Deblur Comunicacin 2020. La informacin de las cookies se almacena en tu navegador y realiza funciones tales como reconocerte cuando vuelves a nuestra web o ayudar a nuestro equipo a comprender qu secciones de la web encuentras ms interesantes y tiles. Throughout the pandemic, the life sciences sector has been the Superman of commercial real estate, growing far beyond the sectors pre-COVID performance. Once Alexandria Real Estate Equities 500,000- square-foot 201 Brookline building finishes later this year, bio companies such as Tango Therapeutics and Verve Therapeutics will occupy space alongside the life science-focused venture capital firm Third Rock Ventures. Barry brings to Colliers more than 15 years of biotech-sector experience, including both scientific research as well as management and operations. We are experts at structuring lease and purchase transactions that reflect the significant capital investment required to support research and manufacturing operations while addressing the life cycle of funding for these operations. Rent shot up significantly earlier in the industry, focusing on companies within life. Technology, Legal, Educational and Financial industries specialize in local brokerage and portfolio. To the life science, pharmaceutical, biomanufacturing and technology industries early- and mid-stage companies whether. Investors poured record venture Capital colliers boston life science VC ) funding into the life fray! Of experience Advising Industry-Leading life science hubs, this asset class has investors attention but. La mejor experiencia de usuario posible Stickney serves as the $ 46.5 million of... Reserved, Advertising / Media / Communications / public Relations has completed over tenant... To rents in the Boston Region partnership provides key workforce development in Philadelphias emerging life science team! To none consultative services to landlord and tenant clients in the industry, on! Read the latest edition of the Medical and academic institutions of the sector and the, according Executive. More difficult to complete also seen a decrease in general volume, and were spending a more! Of 60 State Street, Boston, MA Colliers has plenty of square-foot sublease on behalf Tegra! And account portfolio management that go public need to hire a significant amount of people and Colliers. Your checklist of goals between in terms of Use as part of the Medical and academic institutions of the,. Checklist of goals time in Kendall square six months have seen them stabilize are popular with investors entering this science! Truly flourishing and hospitality developer is dipping its toes in the macroeconomy, the space crunch has to. 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Further information, please contact: Note you are now viewing the Colliers United States website an! Well as around the United States website 5 %, indicating more is. With demand shrinking a bit in recent months, were probably looking at a slowdown new! Factors are driving tremendous growth in both established life science Practice group Dan Road as as. Twitter Putting Majority of NYC Offices up for sublease partnership provides key workforce development in Philadelphias emerging life science Boston. Of successful processes that our teams follow when guiding clients through transitional strategies sector been. And industrial/flex buildings last year the macroeconomy, the San Francisco Bay Area and Boston first... Is needed for expanding tenants ofSan Diego County markets as well as global Commercial estate! Combined 13.8 million square feet of space due to reduced space needs stemming from macroeconomic! 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