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Pharma Tech Outlook | Tuesday, May 03, 2022
Aviridi chooses a real estate professional, Jeffrey Rutishauser as a strategic advisor and expands the Philadelphia life sciences corridor.
FREMONT, CA: “Jeff brings a rich set of experiences to Aviridi, including deep knowledge of the development process, project financing, and the capital markets,” states Jamie Anderson, co-founder of Aviridi. According to a report by CBRE, Philadelphia's life science corridor is one of the top ten life sciences research talent hubs in the United States, but it requires development space that can keep up with the rate of invention. Aviridi, a Qualified Opportunity Zone Business specializing in the life sciences, is committed to servicing this expanding demand. “His experience with large-scale development projects is unparalleled and will help us continue to build Philadelphias growing life sciences corridor,” adds Anderson.
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The company has hired real estate development expert Jeffrey Rutishauser as a strategic advisor and purchased an 11-acre industrial land site in Pottstown, Pennsylvania, to build a manufacturing plant. Rutishauser has over 30 years of expertise in commercial real estate development throughout the Americas and Europe. He was the CEO of Amstar Global Partners Ltd. and the managing director and co-head of AIG/Lincoln, a multibillion-dollar developer.
According to the CBRE Life Sciences Trend Report, biotechnology research and development positions are expanding at the fastest rate on record, but laboratory space is at a premium, with demand in the Philadelphia region for the third quarter of 2021 up nearly 40 percent from the first quarter.
“As we have seen through multiple business cycles, real estate adapts to the evolving needs of the end-user,” Rutishauser shares. “Life sciences real estate is entering an opportunistic phase where new technologies require flexible, cost-effective lab and manufacturing space, so the next wave of leading biotech firms can be successful.”
Before commencing ground on the new building, Aviridi plans to prepare the 11-acre site for redevelopment as an Opportunity Zone facility and position the location with a life sciences anchor tenant. Aviridi believes that investments in advanced bio-fermentation—the industrial process of biosynthesis mixed with fermentation—are essential for achieving a sustainable future and producing superior goods.
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