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 »
Posts Tagged: Life Sciences
SmartLabs expands to Philadelphia with 117,000-SF lease in University City
SmartLabs, an operator of life sciences labs, vivarium and manufacturing spaces, has leased two floors totaling 117,000 square feet at a proposed new building in University City. Philadelphia will serve as the third city SmartLabs will have a presence, underscoring the strength of the city’s burgeoning life sciences scene. SmartLabs maintains a presence in Boston… Read more »
Local CEO Seeks to Build Life Sciences Park in Southwest Philly
While most passersby see only a weedy and thrash-strewn vacant lot, where some people have abandoned cars and others park still functioning ones, Tia Lyles-Williams sees an opportunity for something big in Southwest Philadelphia. “My vision is to create a life sciences park with drug manufacturing, workforce development opportunities and affordable housing,” said Lyles-Williams, the founder and… Read more »
Life Sciences Leases at Curtis Robust as Building
BioInnovation Labs, an incubator of life sciences companies, is expanding by 30,151 square feet at the Curtis, bringing the total amount of space it occupies in the Center City building to 53,529 square feet. Referred to as BioLabs, the company will expand onto the eighth floor of the 12-story building at 601 Walnut St. The… Read more »
Penn, Longfellow to develop $365M life sciences complex at Pennovation Works
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 »
How real estate deals are fueling the University City Science Center’s shift to ‘amplifying’ its impact
University City Science Center Board Chairman Mike DiPiano draws a parallel between his organization and Motown. Before the storied music label could start pumping out chart-topping hits, founder Berry Gordy had to build out a physical space to house offices and recording studios. Since its founding in 1963, the Science Center has worked to establish a similar… Read more »
PIDC seeks partners to develop massive biotech campus on 40 acres of Schuylkill riverfront property
The Philadelphia Industrial Development Corporation (PIDC) is looking for partners for what it is billing as a “landmark life sciences development opportunity” in the city. The city’s public-private economic development corporation wants to create a massive cell and gene therapy manufacturing complex across two sites totaling about 40 acres on Southwest Philadelphia’s Lower Schuylkill riverfront…. Read more »
Tishman Speyer venture proposes new life sciences building at 2300 Market St. in Center City
A venture between Tishman Speyer, a New York real estate firm, and Bellco Capital, a Los Angeles investor in life sciences companies, has acquired 2300 Market St. in Center City and plans to develop it into 200,000 square feet of life sciences space. The partnership, Breakthrough Properties, bought three structures that housed the culinary school… Read more »
B.Labs, Brandywine’s incubator space at Cira Centre, fully leased
Vitara Biomedical Inc., a company working on a therapeutic platform to support premature infants, and San Francisco-based Quanta Therapeutics Inc., a biotech focused on therapies for cancer, are among the recent tenants to sign leases at B.Labs, a 50,000-square-foot life sciences incubator at Cira Centre. The leases bring the space to fully occupied. Brandywine Realty… Read more »
Adaptive Reuse or New Construction? Considerations for Life Sciences
Consider these five factors when determining which direction to pursue, advise Justin Brasell and David Klein of Transwestern. Life sciences companies—whether young startups receiving an influx of venture capital or mature entities with a long history in the industry—are setting out in record numbers to find space for developing treatments that advance public health and… Read more »
