Colorado-Real-Estate-Journal_487616

Page 12 — Health Care, Senior & Life Sciences Quarterly — October 2025 www.crej.com LIFE SCIENCES W e all know the three words most important to real estate: location, location, location. As a researcher in the life sciences indus- try, I can assure you that location is also important to the development of life-changing cures. I wear many hats at University of Colorado Anschutz. I’m a pediatric oncologist, a professor of pediatrics in the Department of Hematology and Oncology, and the executive director of Gates Institute. The insti- tute was launched at CU Anschutz to support research and product development of cell and gene thera- pies – an advanced approach to treating diseases by modifying cells or genes in the body. CU Anschutz’s commitment to this research is a large part of why I came to the uni- versity in 2018. These therapies are currently offering potential cures for genetic disorders and cancers that were previously untreatable with conventional drugs, represent- ing a revolutionary and rapidly growing sector of the life sciences industry. The potential to expand these therapies into multiple new diseases is enormous. Each infusion is a collaborative effort involving scores of specialized personnel. It is hard to overstate the importance of location to conduct this research. Before I joined CU Anschutz, I had already been working on some of the earliest clinical trials of a type of CGT called chimeric anti- gen receptor T-cell therapy during my tenure in the National Cancer Institute and in industry. I knew from this experi- ence that for Colo- rado to become a leader in CGT research, having biomanufacturing capabilities nearby would be impera- tive, so I toured the university’s Gates Biomanufacturing Facility with keen interest. The GBF is a state-of-the-art facility, the only one of its kind in a 500-mile radius connected to an academic medical campus. It offers 20,000-plus square feet of clean rooms, laboratories, material and cryogenic storage. I thought it ingenious that it was located across the street from the CU Anschutz campus, at Fitzsimons Innovation Community. Advancement of cell and gene therapies will require close collaboration between aca- demia and industry, a dynamic that is well-represented at Fitzsimons Innovation Community and enabled by proximity to the scientific dis- coveries that give rise to these treatments. Fitzsimons Innovation Com- munity is a growing life sciences ecosystem where entrepreneurial researchers, clinicians, educators and innovators can collaborate. Its off-campus site allows for-profit enterprises to flourish alongside academia. Because of this, it has been an incubator for startups, and the GBF fits right in. To explain how a university- owned facility has the features of a startup, I might need to back up a little bit. Although CGT research at the university wasn’t yet being gener- ated in the volume to break ground on a new facility, when an opening in Fitzsimons Innovation Commu- nity’s Bioscience 1 building became available in 2014, leadership at CU Anschutz and Gates saw the oppor- tunity to invest in the future. In 2015, the GBF was founded thanks to a philanthropic gift from the Gates Frontiers Fund, as well as contributions from private donors, foundations and campus partners. In the first year of operation, work went into building systems and solving logistical challenges to sup- port advanced research. Private industry – including some of the neighboring firms at Fitzsi- mons Innovation Community – were among the first clients of the GBF, enabling the facility to build its infrastructure, gain expertise and attract talent at a time the univer- sity was still ramping up its CGT programs. During this time, the GBF What researchers all know: Location matters Terry Fry, M.D. Executive director, Gates Institute PROFILE Colorado’s commercial real estate market is gaining momentum. After a slow 2024, marked by cau- tious leasing and muted absorption, 2025 is showing renewed activity – driven by quantum R&D companies seeking space with requirements similar to life science tenants. We are seeing a significant increase of requirements currently in the mar- ket seeking 20,000-45,000-square- foot range. Together, these sectors are reshaping demand for special- ized space and positioning Colo- rado for sustained growth. Quantum R&D firms, focused on areas like computing, photon- ics, and materials science, require specialized lab and technical space. Key priorities include advanced infrastructure, high power capac- ity, clean rooms, flexible build-outs and access to top-tier talent. These companies are attracting comple- mentary businesses and reinforcing Colorado’s role as a hub for techni- cal innovation. At the same time, the life sci- ences sector is showing strong momentum. Early- and growth- stage companies are touring more frequently, seeking move-in-ready, highly technical space. To meet this demand, SteelWave has introduced spec lab suites, that include lab benching, hoods, and office furni- ture at Infinite Labs in Louisville, Colorado, and Element Research Center in Boulder, Colorado. Rang- ing from 2,000 to 12,000 square feet, these suites allow tenants to start operations quickly, avoiding lengthy timelines and capital costs associ- ated with ground-up construction. A notable lease is in the works in Boulder, anticipated to absorb roughly 75,000 square feet of spe- cialized life science space – point- ing to continued momentum from large technical users. “Even though it’s life science lab space, that doesn’t necessar- ily mean that will be the ultimate use,” said Blake Harris, CBRE. “Many tenants require the same elements – power, infrastructure, ceiling heights, clean rooms, and timing of occupancy. Life science fundamen- tals are highly adaptable for R&D and other technical users.” Beyond the spec suites, SteelWave also offers customizable spaces up to 120,000 square feet, accommo- dating mid-stage and mature com- panies with complex requirements. This flexibility allows tenants to scale research operations, expand lab footprints, or integrate hybrid R&D functions. “Our spec suites are designed for immediate occupancy, and our larger customizable spaces up to 120,000 square feet let us meet the unique needs of any tenant,” said Peter Llorente, Senior Managing Director of SteelWave. “Whether a company needs quick move-in readiness or a large block for cus- tom operations, we’re prepared to deliver.” Colorado’s appeal extends beyond square footage. The state offers a quality of life that attracts and retains talent and infrastructure capable of supporting highly tech- nical operations, making it an attractive location for companies that rely on collaboration, innova- tion, and a strong workforce. With CU Boulder graduating uniquely qualified talent and the CU incuba- tor fostering homegrown startups, the region continues to strengthen its pipeline of future innovators. SteelWave’s portfolio is strategi- cally aligned with these strengths, positioning the company to capture demand from a wide range of ten- ants across both life science and quantum R&D sectors. As 2025 progresses, demand from these industries is expected to stabilize and energize the market. Large life science leases, like the 75,000-square-foot Boulder deal, anchor absorption, while move-in- ready suites support early-stage and growth-stage tenants, creat- ing a healthy and diverse pipeline. SteelWave’s range – from spec suites ready for immediate occu- pancy to large customizable spaces – provides the speed, flexibility, and infrastructure tenants require to operate efficiently and scale effec- tively. Colorado’s commercial real estate market is benefiting from a con- vergence of trends. Large life sci- ence leases are driving absorption and signaling confidence in the state’s capacity to support complex, technical operations. Meanwhile, flexible, ready-to-go suites and cus- tomizable spaces ensure companies of all sizes can grow and innovate. With increased touring activity, strong fundamentals, and a portfo- lio designed to meet diverse tenant needs, SteelWave is uniquely posi- tioned to support the next chapter of growth in Colorado, helping both life science and quantum R&D firms achieve their research and operational goals. s SteelWave: Quantum R&D and Life Science Activity Position Colorado for Growth Ianthe Schaub Director marketing and transaction services, SteelWave ischaub@steelwavellc.com Please see Fry, Page 20