Life Sciences on the Rise: 2021 North American Report

PUBLIC & PRIVATE FUNDING (2020-2021)

COMPANY

DEAL TYPE

COMPLETED TYPE

$ RAISED (MM)

Royalty Pharma Everest Medicines

IPO IPO

Jun 2020 Oct 2020 Aug 2020 Oct 2020 Sep 2020 Mar 2021 Apr 2020 Mar 2021 Mar 2021 Dec 2020

Public Public Public

$2,180.0 $451.0 $330.0 $275.0 $173.9 $170.0 $165.2 $150.0 $125.0

Schrödinger Nuvation Bio Immunovant

Public Investment 2nd Offering

Early Stage

VC

Public Investment 2nd Offering

Public

AffaMed Therapeutics Zentalis Pharmaceuticals

Later Stage

VC

IPO

Public

Unite Us

Later Stage Later Stage Early Stage

VC VC VC

Paige

Neurogene

$115.0

RENT VS. VACANCY COMPARISON

NNN Rents

Vacancy Rate

$80.00

35.0%

30.0%

25.0%

$60.00

Vacancy Rate

20.0%

15.0%

$40.00 NNN Rent $/sf

Vacancy Rate

10.0%

5.0%

Average Asking Rent $/sf

$20.00

0.0%

2017

2015

2018

2016

2019

2020

Asking Rents

Vacancy Rate

Source: CoStar, Cushman & Wakefield Research

REPRESENTATIVE INVESTMENT SALE TRANSACTIONS (2019-2021)

ADDRESS

TYPE

$ MM RBA SF

DATE

BUYER

345 Park Ave South

Office

$344.5 305,348

Sept 2019 Deerfield

320 West 66th St

Office

$230.0 513,437

Oct 2019 Taconic Investment Partners Nuveen

REPRESENTATIVE LEASE TRANSACTIONS (2020)

COMPANY

ADDRESS

SIZE (SF) NEW/RENEWAL TYPE QUARTER LANDLORD

Spring Fertility

114 West 41st St

31,862 New

Office Q3

Blackstone RE Advisors

Memorial Sloan Kettering Cancer Center (Research)

641 Lexington Ave (The Chatcom Building)

30,485 Renewal

Office Q3

Rudin Management Co.

430 East 29th St (Alexandria Center) 430 East 29th St (Alexandria Center) 230 Park Ave (Helmsley Building)

Alexandria Real Estate Equities, Inc Alexandria Real Estate Equities, Inc

Opentrons

30,408 Sublease

Lab Q3

Renewal/ Expansion

Cellectis

24,375

Lab Q3

Tempus Labs

22,736 New

Office Q2

RXR Realty

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Contributor: Lori Albert, lori.albert@cushwake.com / Seth Schiffman, seth.schiffman@cushwake.com