South Duvall, the Rockville-based life science real estate investor, is set to convert an office building at 1450 Research Boulevard to 45,000 square feet of lab space. The Rockville building, which South Duvall submitted plans for earlier in January, will be flush with amenities and suitable for one or multiple tenants.
This year, Maryland continued to prove why it’s becoming one of the strongest biohealth clusters in the country. The state’s commitment to businesses in the life science, pharmaceutical, and biotech industries has continued as both the private and public sectors work to meet the demand for more space. Here are a few of the biggest real estate projects in Maryland in 2021. Some of these projects are still under construction, while others were unveiled this year.
Federal Realty, the developers of Pike & Rose, recently announced the development of 935 Prose Street, a 10-story building right near the intersection of Montrose Parkway and Rockville Pike. The building adds to the company’s recent foray into the biotech space, with another project at Assembly Row in Somerville, Massachussetts. Ignoring the market demand for real estate in this sector the last few years was near impossible, said Federal Realty’s VP of Development, Jay Brinson.
Scheer Partners, a full-service commercial real estate firm headquartered in Rockville, Md and the leading provider of fully integrated commercial real estate services, recently published their Q3 Lab Markets Report for the Biohealth Capital Region, outlining the progress, challenges, and trends in the space.
Federal Realty Plans 10-Story Life Science Facility at Pike & Rose to Fuel Extension of Montgomery County’s Life Science and Biotech Corridor to North Bethesda
North Bethesda, Md. (December 1, 2021) – Federal Realty Investment Trust (NYSE:FRT) is setting the new standard for life science facilities with plans for an iconic, amenity rich 935 Prose, located in the heart of North Bethesda’s Pike & Rose. The project will be designed by internationally acclaimed architect, Gensler, and the 10-story state-of-the-art building will extend the biotech corridor beyond Shady Grove to Pike & Rose, the premier transit-oriented destination for shopping, dining, living, and working in Montgomery County.
South Duvall and Sagamore Ventures Team Up to Bring High-End Lab Space to Baltimore’s Port Covington
Last week South Duvall and Sagamore Ventures announced that they have formed a partnership to bring more than 100,000 square feet of high-end laboratory space to City Garage in Baltimore’s Port Covington over the next ten years. Approximately 75,000 square feet of space is set to be delivered in the next year alone.
South Duvall and Sagamore Ventures today announced a partnership to bring more than 100,000 square feet of biotech laboratory space to City Garage in Port Covington, Baltimore, over the next ten years, with approximately 75,000 square feet being delivered in the next year.
Prince William County and VirginiaBio recently welcomed visitors to the new 33,000 square feet of wet lab space at the Northern Virginia BioScience Center, showcasing the county’s work toward becoming a life sciences hotspot.
Philadelphia’s soaring life sciences commercial real estate market is being driven by the combination of strong demand for advanced lab and manufacturing facilities and near record low vacancy rates.
In 2020 we introduced a new series titled “5 Questions With…” in an effort to spotlight individuals from across the BioHealth Capital Region and beyond. Providing this platform has allowed us to help share the stories of industry peers and show that there isn’t a single “right” way to becoming an industry success.