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Jones Lang LaSalle Americas, Inc. (“JLL”), has been retained on an exclusive basis to arrange the sale of ArborRidge (the “Property”), a three-building, life sciences conversion opportunity. Totaling 128,627 square feet, the Property is located in the heart of the Main Line’s Route 202 lab corridor, Philadelphia’s suburban life sciences hub with over 35% of the region’s lab space. ArborRidge provides investors with a rare value-add opportunity to acquire a superbly positioned property for a future lab conversion.
The Property offers impressive existing infrastructure critical for lab and research operations rarely seen in an adaptive re-use opportunity. Namely, its high level of current finish, generous ceiling height, and one- and two-story configuration, give an operator a meaningful head-start to attract life sciences users. Additionally, two current tenants currently have lab space at the Property, Eggland’s Best (Testing Lab) and VenatoRx (Chem Lab), providing proof of concept for the buildings and location.
ULTRA PREMIUM LAB CONVERSION
- JLL consulted with an international leader in MEP design to review the physical condition of ArborRidge and its ability to be converted to research and development uses. The Property offers impressive existing infrastructure critical for lab and research operations, rarely seen in an adaptive re-use opportunity.
PROPOSED FUTURE DEVELOPMENT & EXPANSION
- The southern-most portion of the parcel contains additional developable land. This allows investors to market ArborRidge to a wide variety of life sciences tenants. The asset can accommodate tenants seeking immediate occupancy by converting existing office space in the buildings or those tenants with customized ground-up or single user needs.
RAPIDLY EXPANDING LIFE SCIENCES MARKET
- The Philadelphia region shattered its previous life sciences venture capital record with nearly $1.9 billion invested in local companies in 2021. The region’s recent growth in funding (350% since 2015) is the second fastest VC growth rate nationally, behind the New York area. Furthermore, based on Life Sciences VC funding from the first quarter of 2022, the region is on track to exceed 2021 numbers.