Life Science: Great Promise & Rapid Growth

TOP VC-FUNDED COMPANIES (2018)

COMPANY

ROUND

MONEY RAISED LEAD INVESTORS

Celularity

Series B

$250M

Celgene

KBP Biosciences

Series A

$76M

Advantech Capitall, SDIC Venture Capital

Castle Creek Pharma

Early Stage VC $72M

Fidelity Management & Research, Valor Equity Partners

Akrevia Therapeutics

Series A1

$30M

F-Prime Capital Partners, Atlas Venture

Vascular Therapies

Series E2

$12M

Undisclosed

PanOptica

Series B

$11M

SV Health Investors

Source: PitchBook, Crunchbase

RENT VS. VACANCY COMPARISON

SUBMARKET STATS

$19

16%

AVG. ASKING RENT (NNN)

INVENTORY (SF)

VACANCY

14%

$18

Greater Princeton Area

$20.86

4,968,352 26.9%

12%

10%

$17

Route 78 Corridor

$17.77

2,551,647

11.8%

8%

$16

6%

Morris County

$15.00

1,483,221

9.6%

4%

$15

Upper 287 Corridor

$14.06

634,576

14.0%

2%

$14

0%

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

Bergen County

$10.15

555,066

28.9%

NOTABLE LEASE TRANSACTIONS (2018)

TENANT

SF

LANDLORD

ADDRESS

SUBMARKET

LEASE TYPE

Teva Pharmaceuticals

345,488 P3 Properties

400 Interpace Pkwy Morris County: Parsippany Office: Renewal/ Expansion

Integra Life Sciences

166,791

Black Creek Group 1100 Campus Rd

Greater Princeton

Office: New Lease

Insmed

117,022 Exeter Property Group 107,710 Powderhorn Associates

700 Route 202/206 N Route 78 Corridor

Office: New Lease

Celgene

7 Powder Horn Rd

Route 78 Corridor

Lab: Expansion

Alvogen Pharma Lonza America

84,609 Marcus Partners

44 Whippany Rd

Morris County: Morristown Office: New Lease

74,659 Keystone Property Group 63,760 Premium Capital Resources

Morris County: Morristown

Office: New Lease

412 Mount Kemble Ave

Octapharma

Bergen County: Route 4 East Corridor

Office: New Lease

117 West Century Rd

NOTABLE SALE TRANSACTIONS (2017 - 2018) ADDRESS SUBMARKET SF BUYER

SELLER PRICE TENANTS

1 & 2 Merck Dr, Whitehouse 185 Tabor Rd, Morris Plains

Route 78 Corridor Morris County

1,215,850 UNICOM Global

Merck

$25.0M Merck (leased back 2 Merck Dr)

Vision Real Estate Partners/PCCP, LLC

Johnson & Johnson

220,000

$20.5M Vacant (includes 643,710 SF of additional space which will be demolished)

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Contributors: Jason Price, jason.price@cushwake.com; Christa DiLalo, christa.dilalo@cushwake.com