As Big Pharma continues to contract and morph, perfect storm conditions prevail in the marketplace for R&D properties in New Jersey. So says Christopher E. Kinum, head of Cushman & Wakefield’s global life sciences practice. But he isn’t the only one—his industry colleagues provide similarly gloomy reports on the climate.

“Brokers who know the life sciences industry are all of the same general opinions,” says CBRE NJ’s Tom Sullivan, the national director for his company’s practice. “R&D property in any size has been depressed for four to six years, though not as depressed as it is right now. We’ve got some really major assets becoming available, and the fact is, the bigger the asset, the more difficult the challenge of ever repositioning it.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.