CBRE announced that Fitzsimons Innovation Community broke ground on a new cell and gene therapy manufacturing building at the 125-acre science and technology campus in Aurora, Colo. Bioscience 5 will provide 90,000 square feet of flexible space designed to cater to the life sciences, a sector experiencing widespread growth in the wake of COVID-19.
Erik Abrahamson, David Saad, Blake Holcomb and Brian Hutt with CBRE were awarded the leasing assignment for the campus.
Bioscience 5 will be built speculatively and can accommodate a range of functions: lab, office, distribution, manufacturing, assembly and warehouse space. Construction is expected to be complete in the second quarter of 2022.
“The pandemic spotlighted the role life sciences companies play in protecting and advancing the health and wellbeing of society. Communities like Denver and Aurora, with its quality of life, highly educated workforce and expanding lab inventory, are poised to benefit from significant growth in the life sciences sector in the coming years,” said Mr. Saad, Executive Vice President, CBRE.
CBRE’s 2021 MidYear U.S. Life Sciences report named Denver-Boulder a top U.S. life sciences market. The region’s vacancy rate sits at just 3.8 percent due to strong leasing activity since Q3 2020. Demand for space has increased 87.7 percent in the last nine months. Currently, 33 life sciences companies are searching for a cumulative 1.6 million square feet of lab space in the Denver-Boulder area with only 635,000 square feet of new construction space planned, including Bioscience 5.
“Life sciences is an innovative, collaborative industry that thrives in knowledge sharing. A location at Fitzsimons Innovation Community grants access to almost 100 startups and established life science firms located on the campus in addition to being adjacent to the clinicians and researchers at the University of Colorado Anschutz Medical Campus. It’s an invaluable advantage for a company looking to grow in Colorado,” said Mr. Abrahamson, First Vice President, CBRE.
Bioscience 5 joins four existing buildings on the campus, which collectively total 339,000 square feet. Bioscience 1 and 2 are fully leased, while Bioscience 3, which delivered spring 2020, has only 30,000 square feet of vacancy remaining. Bioscience 4 and Bioscience 6 are in the planning phase. In addition, the mixed-use campus incorporates apartments, a boutique hotel and retail amenities.
On top of company-dedicated workspace, Fitzsimons Innovation Community offers numerous shared services and amenities. Community space is available for hosting networking, educational and training events, facilitating connections between tenants and with key industry leaders. The campus also offers incubator and accelerator programs and access to shared scientific equipment, administrative services, conference rooms, tenant lounges, cafés and lab space.
Fitzsimons Innovation Community is located just west of Interstate 225 at Montview Boulevard, adjacent to the University of Colorado’s Anschutz Medical Campus, home to UCHealth, Children’s Hospital Colorado and the new VA Hospital. It is within an Enterprise Zone, offering economic incentives for tenants. It is also within walking distance of two light rail stations, providing 20-minute transit to downtown Denver, the Denver Tech Center and Denver International Airport.
For more information, visit fitzsimonsinnovation.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
