Life Sciences 2020: The Future is Here

TOP VC-FUNDED COMPANIES (2019) COMPANY

ROUND MONEY RAISED LEAD INVESTORS

Sana Biotechnology Sage Bionetworks Shape Therapeutics Silverback Therapeutics

3

$219.0M $37.0M $35.5M $27.5M $26.0M $25.0M $22.0M

F-Prime Capital Partners National Institute On Aging New Enterprise Associates

1

2

Navigating Cancer

4 2 5

Merck Global Health Innovation Fund, TT Capital Partners

Faraday Pharmaceuticals

RareCyte

HealthQuest Capital

Good Therapeutics

1

$11.2M

Mirabilis

5

$10.6M $10.5M

Kineta

INVENTORY/GROWTH PROJECTION

RENT VS. VACANCY COMPARISON

11.0 11.1 11.2 11.3 11.4 11.5 11.6 11.7 11.8 11.9 12.0

Asking Rents

Vacancy Rate

$15.00 $20.00 $25.00 $30.00 $35.00 $40.00 $45.00

10.0% 12.0%

11.9

0.0% 2.0% 4.0% 6.0% 8.0%

Vacancy Rate

11.3

11.3

MSF

Average Asking Rent $/sf

2019

2020

2021

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

Source: Cushman & Wakefield Research

Source: Cushman & Wakefield Research

SUBMARKET STATS

AVG. ASKING RENT (NNN)

INVENTORY (SF)

VACANCY

Seattle Bothell

$47.25 $21.44 $31.00

6,842,739 2,626,931 1,780,656

2.7% 8.3% 11.3%

Redmond

NOTABLE LEASE TRANSACTIONS (2019)

TENANT

SF

LANDLORD

ADDRESS

SUBMARKET

LEASE TYPE

Just Biotherapeutics Adaptive Biotechnologies Lyell Immunopharma

140,000 PacTrust

10800 231st Way NE (Redmond Ridge BC)

Redmond

Prelease

100,084 Alexandria Real Estate Equities

1165 Eastlake Ave E (eleven65) South Lake Union

Prelease

72,518

Blackstone Group 2525 223rd St SE, 22028 26th Ave SE (Canyon Park East – Buildings B & C)

Bothell

New

NOTABLE SALE TRANSACTIONS (2018-2019)

ADDRESS

SUBMARKET SF

BUYER

SELLER PRICE CAP

TENANTS

1730 Minor Ave & 1100 Olive Way (Metropolitan Park) 2301 5th Ave (Fifth & Bell Building) 2625 162nd Street SW (Former Berlex Labs) 21222-21520 30th Drive SE (Highlands Campus Tech Centre 21501 23rd Drive SE (Seattle Life Sciences Facility)

Denny Regrade

709,108 CalSTRS &

CBRE Global Investors

$435.0M 4.4%

Swedish, Kaiser Permanente, Virginia Mason, Seattle Children’s Amazon, Institute for Health Metrics

Beacon Capital Partners

Denny Regrade

197,135 Alexandria Real Estate Equities

Blackstone Group

$95.0M 5.2%

Lynnwood 95,000 Partner

Sanofi

$45.6M N/Ap

Berlex

Therapeutics

(owner/user)

Bothell

201,766 Equus Capital Partners, Ltd.

Investcorp $33.6M 7.8%

Seattle Genetics, AR Modular RF, AVI-SPL

Bothell

151,000 AGC Biologics Taylor

$22.5M N/Ap (owner/ user, purchase by tenant)

AGC Biologics

Development & MRM, Inc.

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Contributor: Brian Cagayat, brian.cagayat@cushwake.com; Daniel Ochs, daniel.ochs@cushwake.com