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News release

BETHESDA, MD

Life Sciences Trend: Retrofitting Buildings and Parceling of Land for Corporate Campuses to Accommodate Fast-Growing Pharma

I-270 Corridor, Frederick in Suburban Maryland Targeted as Possibilities


BETHESDA, MD, APRIL 15, 2014 - With the life sciences industry shifting away from the trend of “big pharma” into one where mid-tier firms and specialty players experience overnight growth, an opportunity has emerged for the retrofitting of buildings and parceling of land to accommodate large corporate campuses. This real estate strategy better matches the needs these companies have for their promising products and treatments, according to the Life Sciences Outlook for Metro DC and Suburban Maryland from JLL.

There are two markets in Suburban Maryland where activity like this is ripe: the I-270 Corridor, which is known locally as DNA Alley, and Frederick.

“The I-270 corridor biotech market experienced a volatile 2013 due to mergers, lack of government funding and acquisitions,” said Pete Briskman, Managing Director, JLL, Life Sciences Practice Group. “In the coming year, we expect to see a higher velocity of leasing activity with the handful of Class A large blocks of space being absorbed first as tenants upgrade from functionally obsolete second-generation space to Class A space.”

Frederick’s life science market is poised for additional growth. Existing projects and high-profile tenants in the Frederick market include the $510 million U.S. Army Medical Research Institute of Infectious Diseases building, the Astra Zeneca manufacturing facility and Leidos Biomedical Research Inc.’s 360,000-square-foot vaccine manufacturing plant.

“Lab and manufacturing tenants are drawn to Frederick because of its proximity to I-270, availability of a skilled workforce and less expensive land for creation of a campus environment,” added Briskman. “It is a good alternative to the pricier Shady Grove corridor.”

Also in Frederick, there is an 865,000-square-foot facility under development by joint-venture partners Manhattan Construction and Torcon of Red Bank. The six-story laboratory facility will feature the latest in bio-containment technology in order to examine threatening bacteria and viruses.

About JLL's Life Sciences Practice Group
JLL has a team of real estate and facility management experts dedicated to helping life sciences companies optimize and manage their real estate portfolios. The firm provides a comprehensive range of facilities management services to the life sciences community covering 70 million square feet of research, manufacturing and commercial space. JLL’s industry-leading full-service platform includes: integrated facilities management, engineering and operations, energy and sustainability, transaction advisory services, lease administration, project management and a new platform for integrating laboratory services, Labwell.

About JLL
JLL (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4 billion, JLL operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.com.​