CordenPharma Proposal

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ENVEDA BIOSCIENCES BOULDER HQ

TEAM & EXPERIENCE

CASE STUDY ENVEDA BIOSCIENCES BOULDER HQ SITUATION

SITUATIO Enveda B growing b is discove small mole Through b advancem and comp Enveda is integrated in the wor discovery. small, Eas laboratory with an ex term grow Series A r horizon, w move quic space in a existing lif for lease. would nee function as committed expansion overall Bo STRATEG At the time summer 2 estate ma beginning favor. Sev landlords developin were evalu major buil Boulder m closed on

Enveda Biosciences is a rapidly growing biotechnology company that is discovering the next generation of small molecule therapeutics. Through breakthrough advancements in machine learning and computational metabolomics, Enveda is building the largest integrated dataset of plant chemistry in the world, tailor-made for drug discovery. Enveda moved into their small, East Boulder office & laboratory headquarters in late 2020 with an expectation for rapid near-term growth. With a $51 million Series A round of financing on the horizon, we knew they needed to move quickly to get into laboratory space in a market that had no pre-existing life sciences space available for lease. We also knew that Enveda would need a quality landlord to function as a long-term partner, committed to Enveda’s fast paced expansion and the growth of the overall Boulder life sciences market. STRATEGY At the time of our first tour in summer 2021, the life sciences real estate market in Boulder was beginning to move in Enveda’s favor. Several large, institutional landlords focused on acquiring and developing life sciences assets, were evaluating the purchase of major building portfolios in the Boulder market. Beacon Capital closed on the 900,000 SF Pearl East Business Park in early 2021 and BioMed Realty, one of the largest life sciences landlord developers in the world, was seriously considering a purchase of the 1 million SF Flatiron Park portfolio in East Boulder. Crescent Real Estate was the existing owner of Flatiron Park, and they were intent on completing a substantial life sciences transaction in the Park to help improve their park’s value and solidify Flatiron Park as the premier biotech hub in Boulder. Our strategy was to leverage Beacon & Crescent’s desire for a high-growth biotech tenant to create a competitive negotiation environment and drive as much value to Enveda as possible. SUCCESS Thanks to the sophisticated and effective decision making of Enveda’s

CLIENT

LOCATION Boulder, Colorado

REAL ESTATE TYPE Office and Lab

SQUARE FOOTAGE 58,000 SF

SERVICES • Site Selection and Lease Negotiations

leadership team, we were ultimately able to finalize a 58,000 SF transaction at 5700 Flatiron Parkway, in the heart of Flatiron Park. The Tenant Improvement Allowance was the largest ever provided to a tenant in Boulder, and the annual rental rate was several dollars below the starting rate that BioMed Realty was advertising after they closed on the purchase of Flatiron Park. The new space will be comprised of both office and laboratory space and will function as Enveda’s brand new headquarters when construction is completed in February 2023.

Proposal for Real Estate Services CORDENPHARMA 9