The City of Philadelphia is negotiating to establish the police department’s new forensics lab at University Place 3.0, sources say. The eight-story, 250,000-square-foot life sciences building at 4101 Market St., completed in mid-2023, has remained mostly vacant. Currently, Fulton Bank operates a branch on the ground floor, and a Southern seafood fusion restaurant is planned…. Read more »
Legend Biotech Corp., a North Jersey company, is building a 31,000-square-foot R&D center at 2300 Market St. in Philadelphia. The center will occupy the third floor of Breakthrough Properties’ eight-story, 223,000-square-foot life sciences building, set for completion in early 2025. With over 1,200 employees nationwide, Legend Biotech expects the new Center City location to eventually… Read more »
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 »
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 »
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 »
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, 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 »
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 »
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 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 »
