CordenPharma Proposal

OME

OPTIONS SUMMARY

Asking Rate(s)

Notes

• Flatiron Park office building that BioMed is planning to convert for life sciences • Have started their design phase to convert to spec laboratory space • Can quickly pivot design plan to accommodate specific tenant needs • Experienced life science landlord • Brand new construction building underway off 55th Street • Will be a state of the art, purpose built lab facility • Planning to build spec but will modify to meet specific tenant needs • Waiting on a revised permit from the city of Boulder • Ready for occupancy in 18 months • Unique opportunity to control entire building as a single tenant • Former LogRhythm office building being converted to lab • Obtaining demo permit this month • Plan to do demo, initial studs, plumbing, electrical, and HVAC work before receiving full permit - helps shave 3-6 months from timeline. • 2 Building complex owned by Beacon, planning to convert both to spec lab/office • They should have permits to build spec lab in 2865 by Sept. 2022 - should be ready for occupancy by mid-2023 • No ability to change 2865 spec plan at this point - 50% lab, 50% office • Landlord will have demo permit for 2885 building by end of month • Completing work to HVAC, electrical, • 2885 building is likely Q1 2024 occupancy • Steelwave is close to going under contract to purchase this – will look to deliver “lab shell ready” space • Interior of the building has been demolished and is ready for tenant improvements • Neighboring buildings have been converted from office to lab shell ready space - this building has only been demoed, with exterior cosmetic renovations underway • BreakThrough Properties bought 38th Street portfolio of 4 buildings in early August • Plan to convert this to a life sciences campus • Have not submitted for any permits but they have their design team on board and have begun space plans for potential tenants. • Batelle has lease expiring in late 2024 but likely has plans to downsize and move out. May be able to get into project sooner pending landlord’s discussions with Batelle

$55.00/SF NNN $12 - $14/SF in Opex (Estimate)

$67.00 - $69.00/SF

$60.00/SF NNN $12 - $14/SF in Opex (Estimate)

$72.00 - $74.00/SF

$55.00 - $60.00/SF NNN $12 - $14/SF in Opex (Estimate)

$67.00 - $69.00/SF

$50.00 - $55.00/SF NNN $12 - $14/SF in Opex (Estimate)

$62.00 - $69.00/SF

$50.00 - $55.00/SF NNN $12 - $14/SF in Opex (Estimate)

$62.00 - $69.00/SF

$50.00 - $55.00/SF NNN $12 - $14/SF in Opex (Estimate)

$62.00 - $69.00/SF

Proposal for Real Estate Services CORDENPHARMA 23