Life Sciences 2020: The Future is Here

TOP VC-FUNDED COMPANIES (2019)

COMPANY

ROUND

MONEY RAISED LEAD INVESTORS

Elixirgen Therapeutics

2

$5.0M

AsclepiX Therapeutics

1

$5.0M

Barer & Son Capital

Sonavi Labs

Angel

$0.6M

Gardner Industries (Baltimore)

1

$0.2M

TEDCO

OncoSTING

1

$0.2M

TEDCO

Sonoval

1

$0.2M

TEDCO

Glyscend

$0.1M

National Science Foundation

Glyscend

2

Breakout Labs

Sonavi Labs

$0.03M

TEDCO

Sonavi Labs

$0.6M

JLABS

INVENTORY/GROWTH PROJECTION

RENT VS. VACANCY COMPARISON

Asking Rents

Vacancy Rate

With limited new inventory coming to the market, rents should continue to grow in 2019 and beyond. The proposed properties that are in the market should deliver close to fully vacant as many are being brought to the markets by the University of Maryland and Johns Hopkins for continued program development.

$26.00

10% 15% 20% 25%

$25.00

Vacancy Rate

$24.00

$23.00

0% 5%

$22.00 Average Asking Rent $/sf

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

Source: Cushman & Wakefield Research

SUBMARKET STATS

AVG. ASKING RENT ($/SF)

INVENTORY (TOTAL SF)

VACANCY

Downtown Baltimore

$30.00

2.0M

4.3%

BWI Airport

$25.83

1.2M

6.6%

Greater Annapolis

$32.00

345,000

6.5%

Harford County

$26.00

83,000

10.5%

Howard County

$25.36

2.2M

12.0%

Suburban West

$20.00

443,000

10.0%

Suburban North

$24.50

234,000

7.1%

NOTABLE LEASE TRANSACTIONS (2019)

TENANT

SF

LANDLORD ADDRESS

SUBMARKET

LEASE TYPE

Paragon Bioservices

45,750

Ventas, Inc

7565 Harmans Road BWI Airport

Expansion

Illumina, Inc

13,000

Ventas, Inc

801 Baltimore Street

Baltimore City

New to the market

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