In the realm of Life Science Real Estate, hiring the correct architectural and engineering team is just as critical as designing with speed, efficiency and flexibility. Hiring a team with a long and successful history of designing for Life Science clients will guide you in asking the right questions and executing on them appropriately.
Traditional opportunities in the commercial office market have declined significantly since the onset of the Coronavirus pandemic, leading to dramatic growth in inquiries from Life Science tenants about converting existing office spaces. Receiving more than $1.9 billion in NIH funding in 2019, Philadelphia is one of the nation’s leading cities in the Life Science industry. Within the Philadelphia market, demand for real estate outweighs the supply and with top talent from UPenn, Drexel, Temple, CHOP and Jefferson Health, the need for real estate will continue to steadily increase as more funding becomes available. As Life Sciences—specifically the Cell & Gene Therapy industry— have gained momentum in this region, there has been a shift in the way projects are structured. Many companies, start-ups in particular, lack key personnel such as a Director of Facilities to guide the company’s immediate and future needs. With an experienced architect and engineer helping to guide the project, clients can rest assured they are in good hands and that their project is likely to come in on time, within budget and with appropriate safety measures taken.