Posts Tagged: Philadelphia

Premier redevelopment opportunity in Philadelphia

Premier redevelopment opportunity in Philadelphia

Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey has been appointed the exclusive listing agent for 2315-2319 North Broad Street, Philadelphia, PA 19132. The Philadelphia property is available for sale. The property holds +/- 12,789 square feet on .33 acres, that could be utilized by opportunity zones and… Read more »

Local Real Estate Developers Primed for Another Life Sciences Triumph

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 »

Despite Philadelphia Life Sciences Slowdown, Developers Stay Optimistic About Future

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

Investment Firm Acquires Two Industrial Properties in Philadelphia From Adare Pharma Solutions

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 »

University Place Nears Completion, Developer Seeking Life Sciences Tenant

University Place 3.0 nears completion as developer looks to land 'large' life sciences tenant

A $100 million, 250,000-square-foot University City life sciences building is about a month away from receiving its temporary certificate of occupancy and the developer is deep in negotiations with potential tenants. The eight-story University Place 3.0 is at 4101 Market St. near several other life sciences and residential projects in development-heavy University City.  In addition… Read more »

Construction Loan Secured by Breakthrough Properties for New Life Sciences Building

Breakthrough Properties secures $130M construction loan for new life sciences building in Center City

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 »

Philly Cell and Gene Therapy Firm Emerges in Navy Yard Space

Philadelphia cell and gene therapy firm emerges from stealth mode with $64M in funding, Navy Yard space

A Philadelphia cell and gene therapy contract manufacturer is emerging from stealth mode with $64 million in funding, a custom-built facility at the Navy Yard and a veteran health care executive as its new CEO.  VintaBio was founded in 2020 by Junwei Sun and Dr. Shangzhen Zhou, who developed the first viral vectors used for… Read more »

A Life Sciences and Lab Building at the Navy Yard, is Nearing Completion

Philly Life Sciences Navy Yard Almost Completed

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 »

Silicon Valley Bank Collapse Could Affect Philadelphia Life Sciences Companies

Life Science Companies in Philly May Be Affected by Bank Closing

Silicon Valley Bank’s failure — the largest in the U.S. since the 2008 financial crisis — has spawned shockwaves across the U.S. startup scene and sent some companies scrambling to secure funds for payroll and other expenses. The panic was sparked by the bank’s announcement that it planned to raise $2.25 billion after losing $1.8… Read more »

Spark Therapeutics Begins Work on Innovation Center in University City

Spark Therapeutics University City Philadelphia

Spark Therapeutics officially broke ground Tuesday on its $575 million Gene Therapy Innovation Center in University City — a project that will double the company’s physical footprint in Philadelphia. The more than 500,000-square-foot, six-story building at 30th and Chestnut streets on Drexel University’s campus is being designed to serve as the global gene therapy manufacturing… Read more »