{"id":1004603824,"date":"2022-09-22T02:06:00","date_gmt":"2022-09-22T10:06:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004603824"},"modified":"2022-12-08T23:44:59","modified_gmt":"2022-12-09T07:44:59","slug":"gi-partners-acquires-life-science-assets","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gi-partners-acquires-life-science-assets\/","title":{"rendered":"GI Partners Acquires Life Science Assets"},"content":{"rendered":"
\"\"<\/a>

237 Putnam Ave. Image courtesy of GI Partners<\/p><\/div>\n

Scottsdale, Ariz.-based GI Partners<\/strong> has acquired four life science properties totaling more than 407,000 square feet on behalf of its Essential Tech + Science Fund (GI Partners ETS Fund LP), the company announced Wednesday.<\/p>\n

The properties are Blackstone Science Square in Cambridge, Mass., a Class A, fully leased lab building, and the Peninsula Lab Collection, a portfolio of three life science lab buildings in South San Francisco and San Carlos, Calif.<\/p>\n

The sellers of Blackstone Science Square were Carlyle Group<\/strong> and Brickman Associates<\/strong>, a GI Partners spokesperson told Commercial Property Executive.<\/em><\/span><\/p>\n

The sellers of the other three properties were not disclosed, but media outlets reported the seller of 7000 Shoreline Court as Alexandria Real Estate Equities<\/strong>.<\/p>\n

\"\"<\/a>

7000 Shoreline. Image courtesy of GI Partners<\/p><\/div>\n

Blackstone Science Square, at 237 Putnam Ave. in Cambridge, is a 77,000-square-foot property that was converted to lab use and is currently fully leased to life science tenants that include several prominent biotechnology companies.<\/p>\n

The Peninsula Lab Collection consists of three stabilized Class A lab properties: 7000 Shoreline Court and 341-343 Oyster Point Blvd. in South San Francisco and 75-125 Shoreway Road in San Carlos. The third property benefits from its location between the University of California, San Francisco and Stanford University. The entire 330,000-square-foot portfolio is currently 100 percent leased.<\/p>\n

Life science market still a magnet for investors<\/h2>\n

Since launching in 2021, the ETS Fund has acquired 18 properties totaling 2.5 million square feet. The fund is currently investing in a portfolio of data centers, life science properties, and \u201cAlways On\u201d facilities in major U.S. markets.<\/p>\n

As recently as early June, GI Partners announced the acquisition of a 479,000-square-foot building<\/a> combining life science, data center and creative office uses, at 451 D. St. in Boston’s Seaport district. The former industrial property had been completed in 1909. The seller, Related Fund Management<\/strong>, retained a minority stake in the building.<\/p>\n

The Bay Area\u2019s life science market saw about 840,000 square feet of net absorption in the second quarter and about 1.1 million in the first half, according to a report from Kidder Mathews<\/strong>. Although this represents a relatively slow start to the year, lab space in the region has an average vacancy of just 3.2 percent.<\/p>\n

San Mateo County had the highest gross absorption, 710,000 square feet, of any Bay Area submarket, with much of that coming from a 285,000-square-foot lease<\/a> at Alexandria Real Estate\u2019s 30 Rollins Road development in Millbrae, Calif.<\/p>\n","protected":false},"excerpt":{"rendered":"

Purchases in metro Boston and the Bay Area added more than 400,000 square feet to the company\u2019s holdings.<\/p>\n","protected":false},"author":882,"featured_media":1004603828,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,21754,23891,21742,21747],"tags":[32827,36105,33309,36695,36109],"class_list":["post-1004603824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-medical-office","category-national","category-latest","category-office","tag-alexandria-real-estate-equities-inc","tag-brickman","tag-gi-partners","tag-life-science-real-estate","tag-the-carlyle-group"],"acf":[],"yoast_head":"\nGI Partners Acquires Life Science Assets - CPE<\/title>\n<meta name=\"description\" content=\"Purchases in metro Boston and the Bay Area are adding more than 400,000 square feet to GI Partners\u2019 holdings.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/gi-partners-acquires-life-science-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GI Partners Acquires Life Science Assets\" \/>\n<meta property=\"og:description\" content=\"Purchases in metro Boston and the Bay Area are adding more than 400,000 square feet to GI Partners\u2019 holdings.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/gi-partners-acquires-life-science-assets\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-22T10:06:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:44:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/gi-partners-acquires-life-science-assets\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/gi-partners-acquires-life-science-assets\/\",\"name\":\"GI Partners Acquires Life Science Assets - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/gi-partners-acquires-life-science-assets\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/gi-partners-acquires-life-science-assets\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/2.jpg\",\"datePublished\":\"2022-09-22T10:06:00+00:00\",\"dateModified\":\"2022-12-09T07:44:59+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"Purchases in metro Boston and the Bay Area are adding more than 400,000 square feet to GI Partners\u2019 holdings.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/gi-partners-acquires-life-science-assets\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/gi-partners-acquires-life-science-assets\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/gi-partners-acquires-life-science-assets\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/2.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/2.jpg\",\"width\":1200,\"height\":900,\"caption\":\"7000 Shoreline. 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