Boston Scientific Cements Lease For Johns Creek Life Sciences R&D Facility
Nearly a year after Georgia Gov. Brian Kemp struck a deal for a major life sciences facility in Johns Creek, Boston Scientific has signed on the dotted line on a lease, making it the largest office deal of 2023 so far.
Boston Scientific will occupy the entirety of the 207K SF, soon-to-be-built facility at 11350 Johns Creek Parkway, replacing the former State Farm Campus that will be razed to make way for the new project. Boston Scientific, a medical device maker, plans to operate a more than $60M research and development center in the affluent Atlanta suburb, creating 340 new jobs in the process, according to a press release.
The site's owners, US Realty Advisors and Bain Capital, tapped Pure Development to construct the project. US Realty purchased the State Farm campus in 2013 for $71M as the insurance giant began plans to consolidate into its larger corporate hub in Central Perimeter.
“We are excited to be moving forward with this major life sciences lease with Boston Scientific Corp. that will be the first step in creating a significant city center in Johns Creek,” US Realty President David Grazioli said in a statement.
Colliers Executive Vice President Jessica Doyle and Senior Vice President Deming Fish brokered the deal for US Realty, while CBRE represented Boston Scientific. The facility will be next to Toro Development Co.’s planned Medley mixed-use project.
The news comes on the heels of Atlanta’s nascent life sciences industry suffering a major blow when the Center for Global Health Innovation backed away from its 200K SF lease at Tower Square in Midtown, where it planned a Health Innovation District, Bisnow first reported. The CGHI was unable to raise the capital to move forward with its vision and could scrap the plan for the district entirely.
