Life Science: Great Promise & Rapid Growth

TOP VC-FUNDED COMPANIES (2018)

COMPANY

ROUND

MONEY RAISED LEAD INVESTORS

Personal Genome Diagnostics

Series B

$75M

Bristol-Myers Squibb, New Enterprise Associates

Personal Genome Diagnostics

Development Capital

$42M

Innovatus Capital Partners

Dracen Pharmaceuticals

Series A

$40M

Deerfield Management

Cage Pharmaceuticals

Seed Funding

Camden Partners

$350K

Source: PitchBook, Crunchbase

RENT VS. VACANCY COMPARISON

SUBMARKET STATS

$21.50 $22.00 $22.50 $23.00 $23.50 $24.00 $24.50 $25.00 $25.50 $26.00 $26.50 $27.00

AVG. ASKING RENT (NNN)

16%

INVENTORY VACANCY

14%

Downtown Baltimore

$27.17

1,042,446 SF 6.5%

12%

BWI Airport

$22.59

1,438,960 SF 3.0%

10%

Greater Annapolis

8%

$28.75

288,517 SF 5.0%

6%

Harford County Howard County

$24.75

334,085 SF 36.8%

4%

2%

$24.01

2,289,673 SF 10.2%

0%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Asking Rent, $ PSF (NNN) Overall Vacancy Rate

Southern MD

$12.27

118,161 SF

18.5%

Suburban West Suburban North

494,655 SF 11.2%

$16.75

447,140 SF 14.0%

NOTABLE LEASE TRANSACTIONS (2018)

TENANT

SF

LANDLORD

ADDRESS

SUBMARKET

LEASE TYPE

Paragon Bioservices

BWI/Anne Arundel

New

151,000 SF Emerson

755 Harmans Rd

RegenxBio

North Rockville

New

132,000 SF Alexandria Real Estate Equities

9800 Medical Ctr

NOTABLE SALE TRANSACTIONS (2017 - 2018)

ADDRESS

SUBMARKET SF

BUYER

SELLER

PRICE

TENANTS

1701 Research Blvd

Biomed Realty

$40.5M

Meso Scale Diagnostics, LLC *Converting to life science building

North Rockville

105,000 SF Meso Scale

Diagnostics, LLC

704 Quince

Crown West Realty, LLC

$6.9M

Gaithersburg 77,000 SF Alexandria Real Estate Equities, Inc.

Contributor: David Spragg, david.spragg@cushwake.com

15