A partnership involving the University City Science Center has sold 3440 Market St., a 118,000-square-foot building in the University City neighborhood of Philadelphia, for $45 million. Ventas Inc., a Chicago real estate investment trust that is partnering with Wexford Science & Technology and the Science Center on the development of uCity Square, bought 3440 Market…. Read more »
The owner of the sprawling former Budd Co. property in Philadelphia has paid roughly $15 million for 2450 W. Hunting Park Ave., a 275,000-square-foot building, and will fold it into the life sciences campus it is developing at the site. Plymouth Group bought what has been used as an administrative services building by Temple University…. Read more »
A venture that involves Gattuso Development Partners and Drexel University plans to build a $400 million, 500,000-square-foot life sciences research and lab building on the school’s campus in University City. The 11-story project will be developed at 3201 Cuthbert St., which is currently a recreation field used by Drexel and located next to the Armory…. Read more »
Gwynedd Mercy University has sold 150 acres for $31.5 million to Beacon Capital Partners, a Boston real estate investment firm that intends to use the property to expand its life sciences footprint in the Philadelphia suburbs. Beacon already has a presence roughly two miles down the road from the university at Spring House Innovation Park,… Read more »
Sterling Bay, Harrison Street and Botanic Properties have entered into a joint venture to buy a 33,400-square-foot land parcel in Philadelphia’s University City neighborhood to develop a 13-story life science facility. The life science facility at 3801 Chestnut St. is set to total 310,000 square feet and feature modern lab space to support the growing needs of… Read more »
Sterling Bay, Harrison Street and Botanic Properties have entered into a joint venture to buy a 33,400-square-foot land parcel in Philadelphia’s University City neighborhood to develop a 13-story life science facility. The life science facility at 3801 Chestnut St. is set to total 310,000 square feet and feature modern lab space to support the growing needs of… Read more »
Several weeks ago, the Boston Business Journal wrote a story about the amount of available and soon-to-be-available office space in that city. A few weeks before. the publication wrote a story about how building owners are looking to convert office space to lab space because demand is unprecedented. These two stories, along with the news that more big… Read more »
One of Philadelphia’s leading gene therapy companies is setting out to build what could be by far the most prominent biomanufacturing facility in the city to date. Spark Therapeutics will build a $575M gene therapy manufacturing facility on what is now a parking lot owned by Drexel University at 30th and Chestnut streets, the company announced Friday. Spark has agreed to… Read more »
Life sciences companies in the Philadelphia region attracted more than $1.1 billion in venture capital funding this year, with those developing cell and gene therapies leading the way. The three largest deals accounted for more than half of that figure. The year saw two companies, one a startup, reel in $200 million investments. NiKang Therapeutics… Read more »
Spark Therapeutics plans to invest $575 million to build a new gene therapy innovation center on Drexel University’s campus in Philadelphia’s University City neighborhood. Through a 99-year ground lease of Drexel University’s F Lot, the new gene therapy center will be located at the intersection of 30th and Chestnut streets. The 500,000-square-foot, multistory facility is… Read more »
