Life Science Industry Injects More than $740 Million into Mid-Atlantic Project Starts in Second-Quarter 2017

Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--When the second quarter of 2017 draws to a close, the U.S. Mid-Atlantic region is forecast to have kicked off construction on 27 projects in the Pharmaceutical & Biotech Industry, representing $746 million in total investment value (TIV).

The 2Q17 Mid-Atlantic project starts have a healthy $28 million average TIV. This attractive average TIV is historically typical from the industry, even when accounting for outliers that can pop up at either end of the spending spectrum.

Click here for access to the 2017 North American Pharmaceutical-Biotech Outlook

Click on image at right for a map of Mid-Atlantic projects in the Pharmaceutical-Biotech Industry that are set to kick off during second-quarter 2017.

In planning dating back to 2005, the Biopark Laboratory Research Building III is finally on the books to begin construction in May. Located at 873 West Baltimore within the University of Maryland Baltimore's Biopark campus, the $110 million eight-story (plus lower level) 250,000-square-foot building will be built to LEED Gold standards and house multiple commercial health science research operations. As the building is leased, there will be individual tenant improvement build-outs. Wexford Science + Technology LLC (Baltimore, Maryland) is the developer, with Gaudreau (Baltimore, Maryland) as architect, and The Whiting-Turner Contracting Company (Baltimore, Maryland) handling construction of the building, which is expected to be complete in 2019.

The Whiting-Turner Contracting Company is on another sizeable 2Q17 project in Silver Spring, Maryland. United Therapeutics (Silver Spring, Maryland) is investing $85 million to construct a four-story, 20,000-square-foot building to produce liquid bulk injectables. Integrated Project Services (Somerset, New Jersey) is on the project as well.

DSM Nutritional Products LLC (Kingstree, South Carolina) is investing $50 million to modernize and expand its nutritional active pharmaceutical ingredients (APIs) manufacturing plant in Kingstree, South Carolina. In a series of projects, the company will renovate and upgrade various areas and equipment throughout the 420,000-square-foot multi-building campus.

There always remains the possibility that a number of these projects will be delayed, put on hold or cancelled. The individual status of each of the 27 projects will be monitored for changes, just as other second-quarter 2017 project starts will be added as they are uncovered.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.