Life Sciences 2020: The Future is Here

TOP VC-FUNDED COMPANIES (2019)

SUBMARKET STATS

MONEY RAISED LEAD INVESTORS

INVENTORY (SF)

AVG. ASKING RENT (NNN)

COMPANY ROUND

VACANCY

Ginkgo Bioworks

6

$290.0M T. Rowe Price

BOSTON

3.2M

1.4%

Beam Therapeutics Thrive Earlier Detection

2

$135.0M F-Prime Capital Partners, ARCH Venture Partners

Charlestown

896,000 3.7%

$50.00

1

$110.0M Third Rock Ventures

Fenway

228,000 0.0%

$65.00

Longwood Medical Area

Egenesis

2

$100.0M Fresenius Medical Care Ventures

1.4M

0.0%

$80.00

Seaport

FORMA Therapeutics Motif FoodWorks

281,000 4.2%

$85.00

6

$100.0M RA Capital Management

South End

321,000 0.0%

N/A

1

$90.0M General Atlantic

CAMBRIDGE

11.2M

0.8%

Oncorus

3

$89.5M Cowen Healthcare

Investments, Perceptive Advisors

Alewife/West Cambridge

890,000 8.5%

$89.00

Inari

3

$89.0M Flagship Pioneering, EDBI

East Cambridge

6.8M

0.0%

$97.97

GreenLight Biosciences Black Diamond Therapeutics

5

$88.8M Baird Capital, BlueIO, S2G Ventures

Mass Ave Corridor

3.5M

0.3%

$91.00

2

$85.0M New Enterprise

Associates, RA Capital Management

SUBURBS

6.2M

8.2%

128 Central

3.6M

9.8%

$53.00

RENT VS. VACANCY COMPARISON

495 North

202,000 0.0%

$25.00

$50.00 $60.00 $70.00 $80.00 $90.00 $100.00 $110.00

10.0% 12.0% 14.0%

495 West

659,000 13.1%

$23.00

Inner Suburbs

1.2M

1.9%

$81.00

Vacancy Rate

0.0% 2.0% 4.0% 6.0% 8.0%

Metrowest

512,000 8.5%

$45.00

Average Asking Rent $/sf

2008

2009

2010 Asking Rents 2011 2012

2013

2014

2015 Vacancy Rate 2016 2017

2018

2019

Source: Cushman & Wakefield Research

NOTABLE LEASE TRANSACTIONS (2019)

TENANT

SF

LANDLORD

ADDRESS

SUBMARKET LEASE TYPE

Foundation Medicine

585,000 WS Development

400 Summer Street

Seaport

BTS (New)

bluebird bio

267,278 Alexandria RE

50 Binney Street

East Cambridge Sublease from Sanofi

NOTABLE SALE TRANSACTIONS (2018-YTD 2019)

ADDRESS SUBMARKET SF

BUYER

SELLER PRICE PRICE/SF CAP TENANTS

Osborn Triangle

East Cambridge

676,947 Harrison Street

MIT/MCO $1.1B $1,625 4.3% Pfizer, Novartis, LabCentral

Capital JV Bulfinch Cos JV MIT/MCO

1030 Mass Avenue

Mass Avenue Corridor

77,805 Ventas Inc

Longfellow RE JV Bain Capital RE

$128.0M $1,707

4.5% Astellas, Mitobridge,

Obsidian TX, Potenza TX

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Contributor: Ashley Lane, ashley.lane@cushwake.com