Avison Young has formed a new life sciences specialty practice group to assist life sciences companies with their real estate needs. The group will span 10 regional markets in the U.S., Canada, Mexico and Europe and includes 17 Avison Young leasing professionals.
“The new practice group’s members understand the pharmaceutical product life cycle as well as the technical complexities that can create budgetary and scheduling risk associated with life sciences firms’ real estate requirements,” says Mark Rose, chair and CEO, Avison Young.
Some of these requirements include laboratories, vivariums, pilot plants and manufacturing facilities. Group members will address risks in the planning, designing, engineering and construction phases of life science spaces.
The members of Avison Young’s new life sciences specialty practice group are “industry veterans with decades of proven experience representing life science companies globally,” the company says.
“This experience empowers us to seamlessly service all aspects of our clients’ real estate needs, including site selection and evaluation, lease negotiation, construction management and post-lease project management,” says Rose.
Team leader Jerry Keeney, Avison Young principal and managing director of the firm’s San Diego office, says, “The life-sciences industry is expanding at a rapid pace, accounting for much of the leasing activity in markets such as San Francisco, Boston and San Diego. The launch of our partnership at the global level allows us to formulate solutions for our clients who often have operations in more than one location.”
The centrepiece of the group’s approach will be a focus on integrating each client’s technical and financial requirements into the lease-negotiation process, ensuring that requirements are appropriately incorporated within transaction documents, the company says. This process will foster the development of innovative strategies with credible budgets and schedules in early stages of transactions, providing clients with the facts needed to make more fully informed decisions, it says.
Avison Young’s headquarters are in Toronto.