Colliers International, Tarvin Commercial Named Exclusive Leasing Agents For 500,000-Sf Brooklyn Life Sciences Redevelopment

April 15, 2013 — Colliers International’s Tri-State Life Science Practice and Tarvin Commercial Real Estate have been named the exclusive leasing agents for New York Science & Technology Center @BioBAT, a nine-story, 500,000-square-foot state-of-the-art life sciences campus designed to house a wide range of life sciences and R&D tenants in one of Brooklyn’s most famous landmarks

The BioBat project—a portion of the Brooklyn Army Terminal—is a joint venture of the New York City Economic Development Corp and the SUNY Downstate Medical Center.

The new BioBAT space—which resides within the Brooklyn Army Terminal’s 1.7 million-square-foot Building A—is undergoing a $50 million capital improvements program. The redevelopment—being implemented to LEED Silver standards and scheduled for completion in the second quarter—will include a renovated core and shell with an infrastructure designed to support state-of-the-art labs for R&D, up to 56,000-square-foot floor plates, new lobby entrances, new windows, 250 lbs. per-square-foot floor loads, and additional infrastructure upgrades.

The current BioBAT life sciences tenant roster includes the International AIDS Vaccine Initiative (IAVI), which occupies approximately 38,000 square feet on a long-term lease. The new BioBAT space also includes a 7,000-square-foot pre-built lab suite that will be ready for occupancy in the second quarter. Potential tenants include pharmaceutical firms, contract research organizations, medical device, and research organizations.

“More than a decade ago we envisioned what the New York Science & Technology Center @ BioBAT could be,” said BioBAT President Dr. Eva Cramer. “We are thrilled to see this vision becoming a reality. BioBAT at the Brooklyn Army Terminal provides local, national, and international companies affordable, state-of-the-art research and light manufacturing space with significant room for expansion. This site will become an important part of the technology hub developing along the East River.”

“New York City continues to emerge as one of the United States’ leading life sciences and biotechnology corridors, including renowned research facilities, and academic and medical centers, and an unparalleled source of intellectual capital,” said BioBAT Executive Director Louis Kiang. “The New York Science & Technology Center @BioBAT will be a thriving addition to this community.”

“Life Sciences companies will now have access to affordable, premiere space in one large Brooklyn campus,” said Andrew Tarvin, Senior Managing Director of Tarvin Commercial, who along with John Cunningham, Executive Managing Director, and John Cahill, Managing Director, both of Colliers International’s Tri-State Life Sciences division, lead the leasing efforts on behalf of BioBAT. “Tenants will also have access to the wealth of medical and academic centers in the area.”

“We are already speaking with several potential tenants, including growing, New York City area-based biotech firms, and diagnostic companies,” said Cahill, who noted that space users will range from emerging biotechs to mature research facilities.

Additional amenities at the BioBAT include a secure 24/7 gated facility, free on-site parking, and restaurants, as well as an on-site day care center and banking facility. The campus is also conveniently located to multiple subway and bus lines, is just a 20-minute drive to Manhattan, Staten Island, Queens, and New Jersey, and is in close proximity to JFK, LaGuardia, and Newark Liberty airports.

Other leading medical and research facilities in the area include SUNY Downstate, the Albert Einstein College of Medicine, NYC & NYU Langone Medical Center, Weill Cornell Medical College, Memorial Sloan Kettering, Columbia University Medical Center & The Audubon Science Technology Center, Rockefeller University, and Mount Sinai Medical Center.