Life Sciences. An evolving industry: Today s clusters creating tomorrow s breakthroughs. Long Island JLL Research

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1 Life Sciences Long Island 2017 An evolving industry: Today s clusters creating tomorrow s breakthroughs JLL Research

2 Suffolk County Stony Brook University serves as an integral part of the research corridor initiative of Long Island. The National Institutes of Health awarded Stony Brook University s Center for Biotechnology a three-year, $3 million grant to create the Long Island Bioscience Hub in collaboration with two key partner institutions. Suffolk County is also home to Brookhaven National Laboratory, a 4 million-square-foot multipurpose research lab facility funded by the U.S. Department of Energy, founded in The majority of life sciences establishments are in owner-occupied facilities in a campus setting. In recent years, pharmaceutical companies have dominated commercial activity growth with the majority concentrated in Western and Central Suffolk.. 2 Long Island The Long Island life sciences landscape will continue to fuel the economy as firms emerge from Cold Spring Harbor Laboratory in Nassau County, as well as Stony Brook University and Brookhaven National Lab in Suffolk County. Broad Hollow Bioscience Park, located on the campus of Farmingdale State College, has a 62,000-square-foot-facility available for occupancy. The space is ideal for a company seeking a corporate research facility. 25A Major lab supply: Clusters of established lab stock with long-time industry presence Huntington 25A Hauppauge Emerging lab supply: Areas with limited lab stock today that are poised for growth Hempstead Freeport 111 Bayshore 27 Life Sciences supply: Clusters of space devoted to pharmaceutical, biological or medical device & instrument Nassau County The life sciences industry in Nassau County is well positioned for growth as innovation-focused funding from the state solidifies groundbreaking bioscience initiatives and research projects. Nassau County serves as headquarters for Cold Spring Harbor Laboratory, a 125-year-old biomedical nonprofit laboratory, and is home to many lab-based companies such as Mirimus and Certerra. Great Neck-based Northwell Health, the largest private sector employer on Long Island, is expanding rapidly along with its research wing, The Feinstein Institute for Medical Research. The Nassau County life sciences market is mainly comprised of owner-occupied laboratory facilities.

3 3 Scorecard Economic Efforts to accelerate the commercialization of bioscience findings have been made throughout the Long Island region as part of the Long Island Bioscience Hub. Through this initiative, Stony Brook University, Brookhaven National Laboratory, Cold Spring Laboratory, and Feinstein Institute for Medical Research adjoin their research expertise as partner institutions. As one of three such Hubs in the country, it serves as a leading catalyst of life sciences growth on Long Island. Cluster score: 23.2 Workforce Total life sciences % Life sciences to private employment Year-over-year growth Employment 28, % -2.3% Establishments % 4.0% Funding Total life sciences % To total U.S. VC funding $14.1m 0.1% NIH funding $144.5m 0.6% Average asking Inventory Total supply % Total vacancy rent (NNN) 1.4M s.f. 13.2% $23.50 p.s.f. Pharmaceutical and medicine employment increased by more than 30 percent year-overyear as a result of numerous largesized deals signed since The sector plays an increasingly integral role in economic activity on Long Island, particularly in the Hauppauge region where a majority of pharma companies are based. Employment composition within these companies jumped to 35 percent of total employment, from 9 percent in Life sciences employment composition 29% 13% Life sciences employment 28,279 6% 0% 17% 35% non-lab using lab using Pharma & medicine Electromedical instrument Medical equipment & supplies Testing laboratories Research & development Medical & diagnostic laboratories Life sciences patents for drug, bioaffecting and body treating compositions increased over 20 percent since 2000 in the metro area, according to the Long Island Index. The Center for Biotechnology (CFB) at Stony Brook University functions as a key facilitator in the development of new technologies and emerging companies in New York State. The CFB has contributed to more than a dozen FDA approved products and has also helped launch more than 40 companies. Life sciences establishment composition 37% 16% 14% Life sciences establishments % 19% 1% Pharma & Medicine MFG Electromedical Instrument MFG Medical Equipment & Supplies Testing Laboratories R&D Medical & Diagnostic Laboratories

4 4 Long Island Nassau County Northwell Health fuels bioscience activity Nassau County saw a series of partnerships and mergers among research entities as bioscience expanded on Long Island. The Feinstein Institute for Medical Research, Northwell Health s research and development arm, recently announced a strategic partnership with United Therapeutics Corporation, a Maryland-based biotech company. The partnership focuses on the application of bioelectric medicine and cell therapy. Northwell Health withdrew plans to move part of its Feinstein Institute for Medical Research to the Nassau Hub. The initial plan for the Hub redevelopment project proposed an expansion of Northwell s research wing operations to land adjacent to the Nassau Coliseum. The 62,000-square-foot facility at Broad Hollow Bioscience Park in Farmingdale remains the only large block of Class A lab space in Nassau County. Suffolk County Demand from pharmaceutical companies persists Evaric Pharmaceutical, a company that aims to produce generic drugs for sale to U.S. government programs, purchased a 107,000-square-foot facility at 155 Commerce Drive in Hauppauge from Ropack Inc. The sale is expected to create more than 200 jobs on Long Island. The construction of a 260,000-square-foot facility is still underway at 275 Carleton Avenue in Central Islip. The build-to-suit property is being constructed for two Hauppauge-based companies, InvaGen Pharmaceuticals and AlphaMed Bottles. Flushing-based Alife Pharmaceutical purchased a 60,000-square-foot industrial building at 75 Modular Drive in Commack for $5.4 million further supporting the trend of Queens-based companies seeking to relocate to Long Island. Facilities scorecard Supply Rentable lab stock Owner occupied lab stock (% of total lab stock) Total vacancy (Change year-over-year) Nassau County Suffolk County 0.6M s.f. 0.5M s.f. 73.6% 14.7% -0.1 ppts 0.3M s.f. 0.1M s.f. 26.4% 9.0% -4.2 ppts # of large blocks over 50,000 s.f. 1 0 Under construction (s.f.) 0 s.f. 260,000 s.f. Demand # of requirements Total s.f. requirements Pricing Average asking rent (NNN) (Change year-over-year) Recent activity 75 Modular Ave Alife Pharmaceutical Commack Rba: 60,000 SF Class B $90/s.f. Broad Hollow Bioscience Park Farmingdale 62,000 s.f. Class A $22.00 NNN Activity key: 2 0.2M s.f. $22.00 p.s.f % Leasing Sales Under construction Large blocks of space 0 0 s.f. $25.00 p.s.f. 47.4% 155 Commerce Drive Evaric Pharmaceutical Hauppauge Rba: 105,670 SF Class A $123/s.f. InvaGen Pharmaceuticals 275 Carleton Avenue, Central Islip 125,000 s.f. Expected delivery: 2017

5 Want to know more? Contact: Roger Humphrey Executive Managing Director Life Sciences +1 (908) Richard McBlaine International Director Corporate Client Development +1 (312) Dan Loughlin Managing Director Brokerage, New Jersey +1 (973) Lisa Strope Director, New England Research +1 (617) Wes Simon Analyst, Boston Research +1 (617) Megan Shields Analyst, Boston Research +1 (617) About JLL JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At year-end 2016, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 77,000. As of December 31, 2016, LaSalle Investment Management has $60.1 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit About JLL Research JLL s research team delivers intelligence, analysis and insight through market-leading reports and services that illuminate today s commercial real estate dynamics and identify tomorrow s challenges and opportunities. Our more than 400 global research professionals track and analyze economic and property trends and forecast future conditions in over 60 countries, producing unrivalled local and global perspectives. Our research and expertise, fueled by real-time information and innovative thinking around the world, creates a competitive advantage for our clients and drives successful strategies and optimal real estate decisions Jones Lang LaSalle IP, Inc. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.

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