Life Sciences on the Rise: 2021 North American Report

PUBLIC & PRIVATE FUNDING (2020-2021)

COMPANY

DEAL TYPE

COMPLETED TYPE Jun 2020 Public Jun 2020 Public Apr 2020 Public Sep 2020 Public

$ RAISED (MM)

Catalent

Public Investment 2nd Offering

$548.1 $423.8 $420.0 $150.0 $43.7 $36.5 $34.5 $30.0 $25.4 $211.8

Legend Biotech Immunomedics

IPO

Public Investment 2nd Offering

PMV Pharma

IPO

Edda Technology Elucida Oncology

Later Stage Later Stage Later Stage

Apr 2021 Jan 2021 Jan 2021

VC VC VC

Flowonix

Hepion Pharmaceuticals Osmotica Pharmaceutical Health Recovery Solutions

Public Investment 2nd Offering Public Investment 2nd Offering

Nov 2020 Public Jan 2020 Public

Later Stage

Mar 2021

VC

RENT VS. VACANCY COMPARISON

NNN Rents

Vacancy Rate

$30.00

15.0%

13.0%

$26.00

Vacancy Rate

$22.00

11.0%

$18.00

9.0%

NNN $/sf

$14.00

7.0%

$10.00

5.0%

2015

2016

2017

2018

2019

2020

Asking Rents

Vacancy Rate

Source: CoStar, Cushman & Wakefield Research

REPRESENTATIVE INVESTMENT SALE TRANSACTIONS (2019-2021)

ADDRESS

TYPE

$ MM RBA SF $152.0 784,000

DATE

BUYER

1041 Route 202/206, Bridgewater

Lab, cGMP Office, Lab

Sep 2019 Thor Equities Feb 2020 Thor Equities Dec 2020 Harrison Street

95 Greene St, Jersey City 111 Ideation Way, Nutley

$94.5 $36.8

337,888 163,990

Lab

311 Pennington-Rocky Hill Rd, Hopewell

Lab, Office, cGMP $32.5

1,150,000 Jun 2020 Lincoln Equities Group

7 Powder Horn Rd

Lab

$27.1

181,200

Sep 2020 Thor Equities

REPRESENTATIVE LEASE TRANSACTIONS (2020)

COMPANY

ADDRESS

SIZE (SF) NEW/RENEWAL TYPE

QUARTER LANDLORD

Prism Capital Partners

Eisai Inc

340 Kingsland St, Nutley

332,818

New Lease

Office

Q3

New Lease, Sublease

Bristol Myers Squibb

9 Roszel Rd, West Windsor

117,828

Office

Q4

John Hancock

Cabot Industrial Properties Goldman Sachs

Actavis

47 Brunswick Ave, Edison

113,161

Renewal

Distribution Q3

WeWork (Organon)

30 Hudson St, Jersey City

111,416

New Lease

Office

Q2

1041 Route 202/206, Bridgewater

Expansion, Renewal

PTC Therapeutics

101,632

Lab

Q2

Thor Equities

Cedarbrook East Corporate Center Lincoln Equities Group

Wuxi Biologics

7 Clarke Dr, Cranbury

65,758

New Lease

Lab

Q2

311 Pennington-Rocky Hill Rd, Hopewell 701 Princeton South Corporate, Ewing

Passage Bio

62,000

New Lease

Lab

Q4

TCG Greenchem

54,000

Sublease

Office

Q4

Ladder Capital

Century Therapeutics

260 Evans Way, Branchburg 52,380 777 Scudders Mill Rd, Plainsboro 45,066

New Lease Expansion

Manufacturing Q3 Office, Lab Q4

The KRE Group

Genmab

Eaton Vance

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Contributor: Jason Price, jason.price@cushwake.com