LIFE SCIENCES
Retrofitting Office Space to Attract Life Sciences Companies In the life sciences industry, business is booming; here’s how office buildings can satisfy the sector’s unflagging demand for space. By John O’Reilly, Global Lead; and Aisling Crowley, Head of Client Relations & Strategy; Unispace Life Sciences
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n recent years, record-breaking investment flowing into the life sciences sector has prompted unprecedented growth. As life sciences firms expand their facilities to keep up with demand, available space to accommodate these growing businesses — especially in well-known industry clusters like San Diego, Boston, and the San Francisco Bay Area — remains scarce. Leasing space in traditional office buildings can provide a solution for life sciences companies with dry lab needs, as well as those involved in cell and gene therapies and R&D. For office landlords grappling with uncertainty as other industries embrace remote and hybrid work policies, the life sciences sector represents an untapped potential revenue stream. Additionally, in regions with the talent pipeline to sustain a life sciences cluster, retrofitting existing offices to meet these companies’ needs presents an opportunity for economic development organizations (EDOs) and developers to attract new businesses in this booming sector — without making significant upfront investments in new construction. It’s important for building owners and tenants alike to note that there’s more to adapting traditional office spaces to accommodate life sciences firms than simply bringing in lab benches and microscopes, and not every office building will be able to accommodate these companies’ needs. Here are the top three questions to explore when considering retrofitting office space for life sciences companies:
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1. Which life sciences tenants can realistically operate in an office building? Whether or not a particular life sciences tenant will be able to operate in an office building depends largely on the functions and activities that will be performed in the space. For example, wet labs where scientists work with biological materials rely on specialized systems for air filtration, plumbing, waste disposal, life safety, and fire protection. These systems tend to require significant more retrofitting and development to meet strict standards. But a dry lab, where the focus is on material science or electrical engineering, may lend itself more readily to an existing office location, even if the space wasn’t originally designed for lab work. Dry labs will require more robust MEP systems than a typical office tenant, but such equipment is not as displacing as systems required for wet labs. In addition to accommodating specialized equipment and infrastructure, the amount of space needed is a key consideration for determining what kinds of life sciences tenants an office building could host. Companies that are at commercialization stages or are GMP regulated will need a lot more square footage, and they may need additional space considerations such as loading and dock stations. Finally, building owners and companies need to consider the building’s other tenants, as well as any residential neighbors. Labs that expel chemical fumes via for free site information, visit us online at www.areadevelopment.com
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