On Wednesday, BioMérieux is set to open its $125 million Molecular and Genomic Innovation Center at the Navy Yard in South Philadelphia, tripling its footprint in the city. The French biotechnology company entered Philadelphia in 2019 with its $75 million acquisition of Invisible Sentinel. The 32,000-square-foot center is located in the newly developed 1201 Normandy… Read more »
Posts Tagged: Life Sciences
Comcast Spectacor Proposes Life Sciences Hub at Fashion District as Sixers Arena Alternative
Comcast Spectacor is exploring the idea of converting part of the Fashion District mall into a life sciences development at the site where the Philadelphia 76ers have proposed building a new Center City arena. The plan, which includes lab and retail space along Market Street, was presented to the Washington Square West Civic Association on… Read more »
Hankin Group Plans New Life Sciences Building at Eagleview as Capacity Reaches Limit
As Hankin Group welcomes tenants to its new 113,000-square-foot life sciences building, the developer is already planning its next lab facility within the expansive Eagleview master-planned development in Exton. This fall, Hankin Group is set to break ground on a 63,000-square-foot life sciences building at 100 Arrowhead Drive. Named ‘Arrowhead,’ the new project comes in… Read more »
Brandywine Gains Momentum in Life Sciences
Brandywine Realty Trust is on the verge of finalizing an agreement with a tenant for an entire lab space floor at Cira Centre in University City. CEO Jerry Sweeney mentioned that the prospective tenant, who remains undisclosed, is set to occupy the whole eighth floor spanning 27,386 square feet. This space is currently under development… Read more »
Local Real Estate Developers Primed for Another Life Sciences Triumph
Revitalizing Philadelphia’s life sciences market hinges on a new catalyst, according to local real estate developers. Spark Therapeutics, a local gene therapy company, exemplified the potential impact of a single firm’s success on real estate development. Following its acquisition by Roche for $4.8 billion in 2019, Spark expanded to over 800 employees and initiated real… Read more »
New Owners to Overhaul 340-Acre Montgomery County Life Sciences Campus
Less than a year after acquiring a 340-acre office and life sciences campus in Montgomery County, the owners have initiated a significant renovation and expansion project. David Werner Real Estate Investments and GreenBarn Investment Group, based in New York, aim to expand the Bridge at Collegeville by up to 1.4 million square feet, including new… Read more »
Despite Philadelphia Life Sciences Slowdown, Developers Stay Optimistic About Future
Most of One uCity Square was already leased before Wexford Science & Technology inaugurated the 400,000-square-foot life sciences building in January 2023. The impeccable timing aligned with the peak demand for life sciences space in the first half of 2022, according to Wexford’s Vice President of Development, Pete Cramer. Currently, Wexford has shifted its attention… Read more »
NexPoint Expands Life Science Footprint in Philadelphia
NexPoint, a multibillion-dollar alternative investment firm, has acquired two life sciences industrial properties in Philadelphia, in a sale-leaseback deal financed with a commercial mortgage-backed securities loan from KeyBank. The properties were indirectly acquired by NexPoint Life Sciences II DST, a Delaware statutory trust seeking to raise $42 million from accredited investors via a private placement… Read more »
Construction Loan Secured by Breakthrough Properties for New Life Sciences Building
Breakthrough Properties has secured a $130 million construction loan for the development of an eight-story life sciences building at 2300 Market St. Construction on the project is already underway, and the 223,000-square-foot building is expected to be delivered in mid-2024 for tenants to fit out their space. Breakthrough Properties, a joint venture between New York… Read more »
A Life Sciences and Lab Building at the Navy Yard, is Nearing Completion
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 »