Consolidation, Biotech Lab Space (cGMP)

Proligo LLC is part of a $30 billion international biotech firm headquartered in Germany, with offices in Boulder, CO, San Diego, CA, and Canada. Rare Space was engaged to help Proligo in the consolidation of its Boulder operations into one or two facilities. The project required a comprehensive facility needs analysis including mechanical, electrical and plumbing capabilities, and an extensive facility pre-qualification process. Based on the facility needs analysis, and a scattergram of Proligo’s employees, we determined that the company would need approximately 50,000 square feet in a single story building with overstandard water and power capabilities in the greater Boulder County area.

Over the next 12 months, Rare Space Inc. worked as a team with Proligo to pre-qualify and tour several dozen facilities in Boulder County. The goal was to identify three or four viable alternatives and simultaneously negotiate non-binding proposals with each property. Rare Space input the proposed financial data into its proprietary lease analysis software program and presented a side by side financial comparison of the alternatives. The strategy of negotiating with multiple buildings created leverage for Proligo, and subsequently maximized the incentives that Proligo received.

Proligo planned to build approximately 22,000 square feet of lab space to research and manufacture DNA and RNA oligonucleotides. Because lab space is very expensive to build (up to $350/SF), Proligo elected to sign a 10 year lease term allowing them to amortize the cost of the tenant improvements and maximizing their incentives. The financial analysis and evaluation of the proposals was extremely thorough and comprehensive, as was the interview and selection process of the general contractor handling the build out.

Proligo ultimately selected blue chip real estate partners - Turner Construction as the general contractor, WW Reynolds and Chrisman Commercial as their Landlords. Rare Space Inc. is very proud to have successfully represented Proligo through this major real estate transaction.