Life Sciences on the Rise: 2021 North American Report

PUBLIC & PRIVATE FUNDING (2020-2021)

COMPANY

DEAL TYPE

COMPLETED TYPE Nov 2020 Public Oct 2020 VC May 2020 IPO Jan 2020 Public Jun 2020 Public Dec 2020 Public Aug 2020 VC Apr 2020 VC Jul 2020 Public Mar 2021 Public

$ RAISED (MM)

Maravai Life Sciences

IPO

$1,620.0 $755.0 $373.8 $300.0 $259.2 $240.0 $240.0 $236.0 $228.7 $224.0

Resilience

Early Stage

Turning Point Therapeutics

Post-IPO Equity

Mirati Therapeutics Avidity Biosciences Design Therapeutics Kinnate Biopharma

Public Investment 2nd Offering

IPO IPO IPO

Erasca

Early Stage Later Stage

Progenity

Poseida Therapeutics

IPO

RENT VS. VACANCY COMPARISON

NNN Rents

Vacancy Rate

$25.00 $30.00 $35.00 $40.00 $45.00 $50.00 $55.00

0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0%

Vacancy Rate

NNN Rent $/sf $/sf

Vacancy Rate

2015

2016

2017

2018

2019

2020

Asking Rents

Vacancy Rate

Average Asking Rent

Source: CoStar, Cushman & Wakefield Research

REPRESENTATIVE INVESTMENT SALE TRANSACTIONS (2019-2021)

ADDRESS

TYPE

$ MM RBA SF

DATE

BUYER

Illumina HQ (49% Stake)

Lab

$266.7 792,687

Sep 2019 LaSalle Investment Management

Campus Point SD Tech Center

Lab

$255.0 314,103 $229.9 683,836 $185.0 321,471

Jul 2019 Alexandria Oct 2019 Alexandria Nov 2020 Alexandria Oct 2020 Longfellow Jan 2020 Alexandria Jul 2020 Alexandria

Office, Lab

Verge

Office

6325 Lusk Blvd & 10770 Wateridge Cir

Lab

$158.5

233,570

Apr 2020 Harrison Street Capital

The Foundry

Office Office Office Office Office

$130.0 280,631 $102.3 219,628

Enclave Sorrento

The Pointe at Torrey Pines

$97.5 $43.5 $42.8

139,135

1155 Island Ave

203,439

Nov 2020 Phase 3 / Bain Capital

Creekside

131,123

Sep 2020 Longfellow

REPRESENTATIVE LEASE TRANSACTIONS (2020)

COMPANY

ADDRESS

SIZE (SF) NEW/RENEWAL

TYPE QUARTER LANDLORD

Fate Therapeutics

12278 Scripps Summit Dr

198,880 136,807 118,225 117,929 104,179 85,354 76,778 72,863 63,774 63,365

New

Lab Q1 Lab Q3 Lab Q2 Lab Q3 Lab Q2 Lab Q2 Lab Q3 Lab Q2 Lab Q3

Third Palm Capital

Tanvex

10394-10421 Pacific Center Ct

Renewal

City Office REIT

Mirati Therapeutics

3545 Cray Ct

New New New

Alexandria Healthpeak Alexandria Alexandria Alexandria

Zentalis Pharmaceuticals 10275 Science Center Dr

Element Biosciences

10055 Barnes Canyon Rd 5810-5820 Nancy Ridge Dr

Vividion

Renewal/Expansion Lab Q3

Singular Genomics

3010 Science Park Rd

New

Quidel

10165 McKellar Ct

Renewal

Biomed Realty

Cue Health

9877 Waples St

New New

Alexandria

Foundation Medicine

11010 Torreyana Rd

Biomed Realty

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Contributor: Justin Balagtas, justin.balagtas@cushwake.com / Jolanta Campion, jolanta.campion@cushwake.com