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Sterling Bay, Harrison Street and Botanic Properties have entered into a joint venture to develop a 13-story life sciences property in Philadelphia’s University City neighborhood

Sterling Bay, Harrison Street JV on Philly Life Sciences Development 

Chicago-based Sterling Bay and Harrison Street and New York-based life sciences development firm Botanic Properties have entered into a joint venture to acquire and develop a 33,400-square-foot land parcel in Philadelphia’s University City neighborhood. The JV intends to develop the site at 3801 Chestnut St. into a 13-story, 310,000-square-foot Class A life sciences facility. 

“Philadelphia is one of the country’s strongest markets for life sciences growth –it has it all, a world‐renowned academic and medical research reputation, a steady growth of venture capital investment, and a diverse ecosystem of emerging and established biotechnology companies,” said Andy Gloor, CEO of Sterling Bay.  

“Acquiring in Philadelphia is a critical step in Sterling Bay’s national life sciences expansion, and we look forward to expanding our partnership with Harrison Street and Botanic Properties to bring our signature mix of high-quality lab space and modern, amenitized creative offices to the city’s thriving life sciences sector.” 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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