Life Science: Great Promise & Rapid Growth

MARKET SUMMARY

The Washington, D.C. Metro region is home to one of the most dynamic life science clusters in the country. Demand is booming along the I-270 Corridor and into Frederick County, resulting in record low vacancy rates. Suburban Maryland is a unique submarket due to its close proximity to relevant federal agencies, education/research institutions, and top talent. Due to these drivers, Montgomery and Frederick Counties continue to make their way up the list of top-tier life science hubs. Large companies experiencing growth continue to invest in Maryland or have expanded operations along the I-270/Corridor. RegenxBIO recently signed a lease for 132,000 sf in the heart of the

life science district. Autolus, a London-based company, is putting its stamp on Suburban Maryland as a top tier life science hub by building an 85,000-sf manufacturing facility. KitePharma, a subsidiary of Gilead, has also expanded its presence in Montgomery County at 930 Clopper Road. As demand ticks up and biotechnology companies continue to experience explosive growth, landlords are working to accommodate space requirements by converting existing office buildings with favorable base building conditions. Given these market conditions, rents are rising and more conversions are forthcoming.

(SUBURBAN MARYLAND)

10.8 MSF MARKET SQUARE FOOTAGE FAST LAB STATS

TOP TEN LIFE SCIENCE EMPLOYERS (BY REVENUE)

COMPANY

TYPE

MedImmune

Pharmaceutical

AVERAGE RENT (PER SF) $28.64 48.7K TOTAL

GlazoSmithKline PLC

Biotechnology/ Pharmaceutical

Otsuka America Pharmaceutical

Pharmaceutical

The Emmes Corp

Pediatric Research

Supurnus Pharmaceutical

Pharmaceutical

BioReliance

Pharma & Biopharma Manufacturing

EMPLOYEES 4.7% VACANCY

MacroGenics Inc.

Biopharma

Meso Scale Diagnostics

Biotechnology

Novavax

Biotechnology

Emergent BioSolutions Inc.

Biopharma

TOP LIFE-SCIENCE-RELATED FEDERAL AGENCIES

3.1 MSF

2.5 MSF

55K SF

WASHINGTON D.C. METRO FEDERAL DRUG ADMINISTRATION (FDA) NATIONAL INSTITUTE OF HEALTH (NIH) NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY (NIST)

NATIONAL CANCER INSTITUTE (NCI) 750K SF

1 MSF

600K SF

DEPARTMENT OF HEALTH AND HUMAN SERVICES (HHS)

NATIONAL INSTITUTE OF ALLERGY AND INFECTIOUS DISEASES (NIAID)

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