CBRE announced today the completion of four life sciences leases totaling over 117,000 sq. ft. at Spring House Innovation Park (SHIP), a premier 130-acre multi-tenant life sciences campus located in Lower Gwynedd Township and owned by a partnership of Beacon Capital Partners and MRA Group. FlowMetric LLC, a KCAS company; Seres Therapeutics; Tavotek Biotherapeutics; and a Fortune 100 pharmaceutical company have all committed to new leases at the growing campus, now a hotbed for both established pharma and emergent biotech companies.
“Beacon Capital Partners and MRA Group have successfully transformed the former Rohm and Haas campus into the region’s premier multi-tenant life sciences complex,” said Paul Touhey who is leading the CBRE landlord leasing team. “The most recent lease commitments by these distinguished companies speak not only to the campus’ allure but to the overall strength of the region as a life sciences hub.”
The largest commitment was a pre-lease with a Fortune 100 pharmaceutical company for the entirety of the nearly 78,000 sq. ft. Building 2. In addition, FlowMetric leased 26,000 sq. ft。 in Building 4, and Seres Therapeutics leased 7,000 sq. ft. in Building 9 for its first location in the Greater Philadelphia region. Tavotek Biotherapeutics completed its 3 rd expansion of its operations in Building 3 and now occupies more than 4,000 sq. ft.
Beacon and MRA have made significant capital investments into the campus. The next phase of the project will include the redevelopment of a 100,000 sq. ft. lab facility, delivery of two 12,000 sq. ft. speculative lab suites, and the addition of new market-leading on-site tenant amenities including conference and meeting facilities and food service.
“Our strategy with the redevelopment of SHIP is to create the premier location for life science research by delivering state-of-the-art research facilities in a highly amenitized campus environment,” said Steve Purpura, President of Beacon Capital Partners’ life science platform. “We are thrilled that these distinctive companies shared that vison and chose to locate their research on the campus.”
The CBRE team of Paul Touhey, Matthew Knowles and Cody Lehrer led the marketing and leasing campaign on behalf of ownership, while Robert Zwengler from CBRE represented the Fortune 100 pharmaceutical company, Justin Bell from Newmark represented FlowMetric, Patrick Kelley from Avison Young represented Seres Therapeutics, and Frank Palopoli from Cushman and Wakefield represented Tavotek Biotherapeutics.