Our life sciences facilities directory, including those existing, in development, and planned, includes both real estate owners and anchor users. The interest in these facilities has been heightened by the Covid-19 pandemic. The major players in life sciences are likely to part of the discovery process for best therapeutics and vaccines for this particular coronavirus. Biotechnology, drug discovery, pharmaceuticals, health data management, medical devices, and biomedical technologies, will each play a role in managing through the Covid-19 era.
“Life Sciences” refers to the booming industry made up of biotechnology, pharmaceuticals, biomedical devices, genetics and genomics and research and development (R&D). Life sciences facilities are typically clustered in areas with strong university research and teaching programs in the life sciences, and situated in proximity to other facilities and their tenants.
Among facility providers in 2020, there is a large interest in converting existing office to life sciences use. A great many general-purpose office and industrial properties are quite different from purpose-built life sciences venues, so the conversion process is typically difficult. Sometimes the conversion issues being with something as simple as too-low ceiling heights. Also, life sciences facilities are simply more costly to build out, with base-building work and tenant improvements at a 50%+ premium over general-purpose office buildings.
Site selection is an important consideration, because life sciences real estate is not simply repurposed space in any office, medical office, or industrial building located in any central business district or suburban office park. Oftentimes, desk space is accompanied by a need for wet and/or dry laboratories, temperature-controlled storage facilities, wet benching, incubation chambers, vivarium or other specialty testing facilities, and safe disposal of hazardous materials. Once an appropriate property is identified, workplace design can ensure adequate collaboration space and a workflow to maximize efficiencies, while flexible real estate financing solutions can help an occupier adjust for future growth.
Life sciences facilities and business clusters are a variation of the well-established network of Science and Technology Parks in the U.S. and elsewhere. The definition of such business parks offered by the International Association of Science Parks (IASP), is helpful: … a science park is an organization managed by specialized professionals, whose main aim is to increase the wealth of its community by promoting the culture of innovation and the competitiveness of its associated businesses and knowledge-based institutions.”
Our life sciences facilities directory provided below, is in continuing editing and expansion. We’ll enjoy getting suggestions for facilities to include!