NewHavenBIZ

16 n e w h a v e n B I Z | J a n u a r y 2 0 2 1 | n e w h a v e n b i z . c o m WINSTANLEY 25 Science Park (150 Munson St.) Type: Office/laboratory Size: 259,706 sq. ft. Major tenants: Kleo Pharmaceuticals Inc., Yale University Year purchased: 2007 Purchase price: $14 million Winstanley's New Haven bioscience office portfolio 300 George St. Type: Office/laboratory Size: 518,940 sq. ft. Major tenants: Yale University, Yale New Haven Hospital Year purchased: 2000 Purchase price: $27.5 million 100 College St. Type: Office/laboratory Size: 513,000 sq. ft. Major tenants: Yale University, Alexion Pharmaceuticals Year built: 2015 Current city appraised value: $158.4 million 40-60 Temple St - Temple Medical Center Type: Medical office Size: 145,000 sq. ft. Major tenants: Yale New Haven Hospital Year purchased: 2020 Purchase price: $21 million almost since the industry's inception in the 1990s, when Yale embarked on a more aggressive push to commercialize research coming out of the university. "Prior to his purchase of 300 George Street, it was very difficult for startups coming out of Yale University to find a home base to really incubate and build up their brand," says city Economic Development Administrator Michael Piscitelli. At the time, the only lab space options were in Science Park, but many startups wanted to be closer to their research at Yale School of Medicine. "at was a very important innovation that Carter brought to the marketplace," says Piscitelli, adding that he has paved the way for other developers who are now showing interest. While the pandemic has been tough on landlords and developers, Winstanley says the life-sciences market is somewhat insulated. Most scientific research requires specialized equipment and can't be done from home. "I also think if we've learned anything coming through the COVID crisis it's that the life sciences are critical," he says. Future vision When he looks ahead to the next 10 years, Winstanley envisions an additional 5 million square feet of privately developed commercial life science space springing up around the medical school and hospital. He sees the area teeming with a mix of new, mid-stage and mature life science companies that drive the local economy, provide jobs for residents in surrounding neighborhoods, and attract new people to live, work, shop and dine downtown. With more than 40 bioscience companies already putting down roots in the New Haven area, according to city officials, Winstanley says the region already "has a lot to be proud of." "I think success for me will be when the base of tenants is broad enough that if somebody fails or moves out, it's not a crisis," he says. "e Kendall Square market is so tight that when somebody fails and goes out of business, it's almost viewed as a good thing because it turns over space opportunities," says Winstanley. "at's an incredible luxury to be in that position. at's one great way to define success." n Continued from page 15

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