H1 2024 Life Sciences Update Market Summaries

Atlanta

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Market Summary

Public & Private Funding (2024 1H)

Fast Lab Stats

• Atlanta’s budding life sciences sector is home to more than 2,000 life sciences companies, global health organizations, and three institutions that award bio degrees. Furthering Atlanta’s strength, the city has a thriving network of business incubators and research organizations that provide support for life sciences companies seeking to grow their businesses in Georgia. • The first phase at Science Square near Georgia Tech completed construction, providing 365,000 sf of lab and office space. Portal Innovations will serve as the anchor tenant, joining other life sciences companies, including Vero Biotech, GATV Innovation Labs and Abbot’s St. Jude Medical. An additional four phases will bring 1.4 msf of new life sciences product and thousands of well-paying jobs. • The Boston Scientific facility in Johns Creek is underway, set to deliver roughly 207,000 sf of research and development space for the medical device manufacturer in mid-2025. The facility will be part of Johns Creek Town Center, a 43-acre mixed use development expected to include housing, retail and offices. • Six leases above 20,000 sf have occurred this year in the life science sector, including the 41,135-sf transaction from Zimmer US, Inc. and Immucor, Inc.’s renewal of 33,814 sf.

Company

Deal Type

Completed

VC Round 1st Round

$ Raised (MM)

3.5 MSF Total Inventory 206,686 SF Under Construction 1.4 MS F Proposed 9.5K Total Life Sciences Employment 62.6% Life Sciences Employment 10-Year Growth Rate

Mach5 Therapeutics

Seed Round

Apr 2024

$4.2

Andson Biotech

Early Stage VC

Mar 2024

2nd Round

$3.6

Annoviant

Grant

Apr 2024

$2.9

RORA Biologics

Early Stage VC

Jun 2024

2nd Round

Representative Investment Sale Transactions (2024 1H)

Address

Type

$ MM RBA SF Date

Buyer

1880 Enterprise Drive

Life Science

$3.6M 27,000 Jan 2024

Renew Fitness USA

Representative Lease Transactions (2024 1H)

Company

Address

Size (SF)

New/Renewal

Type

Quarter Landlord

Representative Life Sciences Companies

Life Sciences Labor: Average Monthly Job Postings

Company

Type

Warehouse/Distribution Q2

GIC Real Estate Ivanhoe Cambridge, Inc. Ackerman & Co.

Zimmer US, Inc. 1345 Ridgeland Parkway 41,135 New

1,000 1,200 1,400

U.S. Centers For Disease Control

Research Facility Research Facility

Warehouse/Distribution Q2

Immucor, Inc.

2935 Amwiler Road 33,814 Renewal

Alcon

Renewal/Expansion Office Service

Q2

JTEC Energy 1050-1070 White Street 29,941

Boehringer Ingelheim Animal Health HQ Quest Diagnostics

- 200 400 600 800

Onward Investors

Regional Office Regional Office Regional Office Regional Office Regional Office

Warehouse/Distribution Q1

Immucor, Inc.

2974 Gateway Drive 27,343 Renewal

Takeda Pharmaceuticals

1250 Northmeadow Parkway

Anderson & Senkbeil

EDGE Business Solutions

23,614 New

Life Science

Q2

Change Healthcare

Simon Property Group

MiMedx Group

1 Phipps Plaza

20,475 New

Office

Q2

Abbvia Medical

BD

2020 2021

2022

2023

2024

Boston Scientific Avanos Medical

Production Facility

Hires Unique Postings

HQ

$2.3B Emory University $206M Georgia Institute of Technology $194M Georgia State University Top NIH-Funded Institutions (2020-2024 1H)

Bio Degree-Awarding Institutions, Metro Area • Emory University • Georgia State University • Georgia Institute of Technology

Annual Life Sciences Degree Completions 2013 2,403 2023 3,673 Up 53%

Research Contributors Audrey Giguere

Alex Kaplan Audrey.giguere@cushwake.com Alex.kaplan@cushwake.com Maija Sunnarborg Christa DiLalo Maija.sunnarborg@cushwake.com Christa.dilalo@cushwake.com

Sources: Cushman & Wakefield Research, CoStar, National Institutes of Health (NIH), Lightcast, Pitchbook

CUSHMAN & WAKEFIELD

LIFE SCIENCES UPDATE | 2024 FEBRUARY