Biomedical

Foghorn Therapeutics completed construction in March of 2021 on its 60,000-sf headquarters in Kendall Square in Cambridge, Mass. Spanning three renovated floors in the 500 Technology Square building, the collaborative facility provides leading-edge environments to support crucial biomedical research including chemistry and biology labs, open offices, conference rooms, and huddle rooms. TRIA designed the fast-track project, which was built by Wise Construction with R.W.

Brandywine Realty Trust began construction in March of 2021 on the $287 million West Tower at Schuylkill Yards in Philadelphia. The 28-story, 570,000-sf structure will provide 200,000 sf of laboratory and office space for biomedical and life sciences companies, as well as 9,000 sf of retail space and 326 luxury apartments. On the ninth floor, a 29,000-sf lifestyle club will offer a sophisticated fitness center, a swimming pool, lounges, conference rooms, and co-working venues.

Vibalogics is creating a 110,000-sf facility for the production of oncolytic viruses, viral vector vaccines, and viral vector gene therapy products in Boxborough, Mass. Supporting late-phase clinical and commercial manufacturing operations, the highly flexible structure will include 2,000-liter bioreactors, multiple cGMP production suites, offices, warehouse space, and labs for research, development, and quality control. The $150 million project involves the renovation of an existing R&D building previously occupied by Cisco Systems.

Texas Biomedical Research Institute is planning to construct the $10 million Nonhuman Primate Animal Facility in San Antonio. The 45,000-sf building will provide the Southwest National Primate Research Center with additional laboratories and animal housing environments, enabling TBRI to double its population of rhesus macaques. The United States currently faces a shortage of nonhuman primates for biomedical research, with the COVID-19 pandemic highlighting the need for animal models to test the safety and efficacy of new therapies, vaccines, and diagnostics.

The life sciences sector is experiencing an era of unprecedented growth driven by a surge in both public and private funding combined with a post-pandemic sense of urgency and market opportunity. According to a report released by Newmark in January 2021, more than 36 million sf of new construction is expected to be delivered in the nation’s top 14 life science markets, as life science investments more than triple. While demand for life science and biotech facilities has been growing steadily over the past decade, the COVID-19 crisis heightened national awareness around the need for increased research, diagnostic, and domestic manufacturing capabilities. Investors are also seeing significant potential in the future of personalized medicine, genomics, and other life science-related fields, as emerging technologies and research disciplines converge.

Vermeulens has released its market outlook report for the fourth quarter of 2020. Key points include:

Construction Prices: Remain flat through Q4 of 2020, with one in ten projects showing cost reductions with strong contractor coverage across the board.

Fed Watch: The Federal Reserve continued monetary stimulus.

Architectural Billings: Q4 has returned to growth in inquiries; however, three quarters of billing declines in 2020 will result in a lower volume for the first half of 2021.

The University of British Columbia is planning to construct the CAD$136 million School of Biomedical Engineering Building on the Point Grey campus in Vancouver. The 151,305-gsf facility will accommodate teaching and research labs, collaboration spaces, meeting rooms, and offices. Featuring innovative learning venues for undergraduate and graduate programs, the building will provide classrooms, a 250-seat lecture hall, and a central atrium for informal learning and interaction.

Boylston Properties and J.P. Morgan Asset Management began construction in January of 2021 on a 165,600-sf life sciences facility in Watertown, Mass. Located in the Arsenal Yards district, 100 Forge will be the first purpose-built laboratory building in the city. The joint venture development team has secured a $100.1 million construction loan for the project.

Caltech dedicated the $210 million Tianqiao and Chrissy Chen Neuroscience Research Building in January of 2021 in Pasadena. Designed by SmithGroup to promote interdisciplinary collaboration, the 150,000-sf facility provides wet, dry, and computational research labs for the Division of Biology and Biological Engineering. Standing three stories above grade with two basement levels, the structure includes teaching labs, a neurotechnology lab, a 150-seat lecture hall, conference rooms, and offices for investigators and staff.

Civica Rx began construction in early 2021 on a $124.5 million pharmaceutical manufacturing center in Petersburg, Va. Created in collaboration with Phlow Corp., the 120,000-sf plant will produce sterile injectables for the treatment of COVID-19, emergency room and intensive-care unit treatments, surgeries, and other serious conditions. The facility will feature steam sterilization capabilities, disposable technologies, and advanced automation systems for visual inspection and packaging.

BioMed Realty is planning to create a life sciences innovation campus in Somerville, Mass. The project includes the renovation of an existing 162,000-sf office building and the construction of new facilities on an adjacent 7.5-acre parcel. Offering leasable environments for biomedical, pharmaceutical, and technology companies, the Assembly Square complex will provide 1.3 million sf of research, corporate, and retail space. The mixed-use development will feature multiple roof terraces and a one-acre public park. BioMed Realty acquired the property in early 2021.

Canadian developer Oxford Properties has expanded its real estate portfolio in the United States with the acquisition of four new assets. Representing an investment of $276 million in the burgeoning life sciences industry, the purchase included a total of 415,000 sf of existing space and associated developable land. Oxford Properties plans to spend an additional $500 million to repurpose, renovate, and expand the four structures to create leading-edge lab and office environments for biomedical tenants. 

Silverstein Properties & Cantor Fitzgerald are partnering with University Place Associates to create a biomedical innovation center in Philadelphia. Providing leading-edge lab and office facilities, 3.0 University Place is pre-certified as LEED Platinum v4 BD+C for core and shell, and will also target WELL Core v2 Platinum certification.

BioMed Realty is creating a 482,000-sf life sciences hub in Boston's Seaport District. Previously serving as the corporate headquarters of John Hancock, the building was acquired by BioMed Realty in late 2020. Featuring robust mechanical and electrical systems, the existing structure has attained LEED Platinum sustainable design certification and includes a variety of collaborative meeting areas. The facility will be renovated to provide sophisticated lab and office environments for biomedical companies. Occupancy is expected in the second half of 2022. 

Thermo Fisher Scientific is expanding its global production capacity for vaccines, medicines, and biologic therapies. Construction will begin in mid-2021 on a 130,000-sf facility in Greenville, N.C. Slated for completion in 2022, the standalone structure will accommodate two live-virus filling lines. The project is part of a $500 million investment in the site that will add six new lines in existing buildings to support commercial-scale liquid vial filling and the creation of lyophilized materials.