As a life sciences cluster, the BioHealth Capital Region is poised to become a top-three cluster in the Genetic Engineering & Biotechnology News (GEN) Top 10 Biopharma Clusters ranking on the strengths of early-stage companies becoming commercial successes and the construction of millions of square feet of new wet lab space.
With the highest concentration of Ph.D.s in the country — plus proximity to the government, top-tier medical universities and numerous biomedical companies — the life sciences sector in Montgomery County is ripe to accelerate in the coming years.
There’s also a rising interest among building owners in converting assets to lab, research and biotech space throughout the D.C. region.
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Pete Briskman, JLL’s executive managing director and co-lead for the firm’s mid-Atlantic life sciences practice, spoke with Commercial Observer about why the area is so popular and his belief that demand will continue in the months and years ahead.
Commercial Observer: How would you portray Montgomery County’s life sciences business as we stand here in the first week of August?
Matan Companies announces today leasing has begun at Progress Labs at Riverside I in Frederick, Maryland. Receiving its site plan approval on March 9, the 215,000 square feet of biomanufacturing-ready space will include a 96,000 square foot existing building as well as a 119,000 square foot expansion building, which is slated to break ground in May 2021 and is expected to be fully complete by Spring 2022.