Life Sciences on the Rise: 2021 North American Report

PUBLIC & PRIVATE FUNDING (2020-2021)

COMPANY

DEAL TYPE

COMPLETED TYPE

$ RAISED (MM)

Viela Bio

Public Investment 2nd Offering

May 2020 Public

$169.2

Sensei Biotherapeutics

IPO

Public

$133.0

Arcellx

Later Stage

VC

$115.0

Sirnaomics

Later Stage

VC

$113.0

NexImmune

IPO

Public

$110.1

NeoImmuneTech Delfi Diagnostics

IPO

Public

$104.7

Early Stage

VC

$100.0

Intergalactic Therapeutics

Early Stage

VC

$90.0

ValenzaBio

Early Stage

VC

$79.4

Immunomic Therapeutics

Later Stage

VC

$77.7

RENT VS. VACANCY COMPARISON

NNN Rents

Vacancy Rate

$45.00

12.0%

10.0%

Vacancy Rate

$30.00

8.0%

6.0%

4.0%

$15.00

NNN Rent $/sf

Vacancy Rate

2.0%

0.0%

$0.00 Average Asking Rent $/sf

2015

2016

2017

2018

2019

2020

Source: CoStar, Cushman & Wakefield Research

Asking Rents

Vacancy Rate

REPRESENTATIVE INVESTMENT SALE TRANSACTIONS (2019-2021)

ADDRESS

TYPE $ MM RBA SF

DATE

BUYER

9713-9717 Key West Ave 25-45 W Watkins Mill Rd

Lab $90.0 280,000

Aug 2020 Beckham Gumbin Ventures

Lab $53.3 140,000

Aug 2019 Alexandria Real Estate Equities

700 Quince Orchard

Lab $43.0 122,000

Oct 2020 Alexandria Real Estate Equities

9605 Medical Center Dr

Lab $29.0 116,000

Feb 2020 Alexandria Real Estate Equities

11333 Woodglen Dr

Lab $16.8 63,000

Jun 2020 American College of Gastroenterology

REPRESENTATIVE LEASE TRANSACTIONS (2020)

COMPANY

ADDRESS

SIZE (SF) NEW/RENEWAL TYPE QUARTER LANDLORD

Various – Montgomery and Prince George’s

Food & Drug Administration

180,000 New and Renewals Lab Various NGP, The Duffie Companies, True North

Alexandria Real Estate Equities

Novavax

700 Quince Orchard Rd 170,000 New

Lab Q3

Beckham Gumbin Ventures

Supernus

9715 Key West Ave

135,000 New

Lab Q1

National Institutes of Health

6710 Rockledge Dr

33,000

Expansion

Lab Q1

Nuveen Real Estate

Bridge Investment Group

Aurinia Pharmaceuticals

77 Upper Rock

30,000

New

Lab Q2

ASB Capital Management

Otsuka

2440 Research Blvd 26,000

Renewal

Lab Q1

Farrallon Capital Management

ICON Clinical Research

820 West Diamond Ave 19,000

Renewal

Lab Q3

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Contributor: Nathan Edwards, nathan.edwards@cushwake.com