Fast-growing French biotechnology company bioMérieux has outgrown its space at the University City Science Center and will relocate into 32,000 square feet at a building under development at the Philadelphia Navy Yard. It’s the first lease signed for the new building at 1201 Normandy Place, a project scheduled to open in June. BioMérieux plans to… Read more »
Despite another slowdown in venture-capital funding in the second quarter, developers in the life-sciences space still feel largely confident about the lab real estate sector. That is, in select hubs, submarkets and types of development. Dan Belldegrun, co-founder and CEO of Breakthrough Properties LLC, said right now is a tougher moment for the biotech sector,… Read more »
The University of Pennsylvania has teamed up with Longfellow Real Estate Partners on a $365 million, 455,000-square-foot life sciences and biomanufacturing building at Pennovation Works. The proposed project at 34th Street and Grays Ferry Avenue is designed with 387,000 square feet of research and lab space that will be in two structures connected by 65,000… Read more »
Stoltz Management, a Bala Cynwyd real estate company, has put up for sale 2300 Chestnut St., a Center City office building that could sell for an estimated $40 million. Stoltz bought the 103,905-square-foot office building in 2017 for $28.75 million and invested in upgrades to the lobby and elsewhere. The building is 77% leased to… Read more »
