Cushman & Wakefield has tapped a biotech veteran to fill a new life science role as the firm works to fortify its team and form closer relationships with businesses in the industry it sees being set up for more growth.
The brokerage said Monday it hired Julie Rice, who is based in San Francisco and has worked for more than 30 years of experience in the Bay Area's biotechnology industry, to serve as director of laboratory planning. Rice most recently led multimillion-dollar tenant improvements and laboratory moves for startup companies and helped them establish processes to launch their businesses off the ground and prepare for growth.
In her new role, Rice will oversee laboratory and business operations, provide scientific insight and apply a practical approach to lab and office spaces with which the firm works, Cushman & Wakefield said. She also will plan systems in facilities to support laboratory environments and expand the firm’s relationships with third-party life science clients and the firm’s internal life science team, the brokerage said.
Cushman & Wakefield created the new director of laboratory planning position as the life science real estate market appears to be rebounding after hitting a bump last year. In a February report titled Life Sciences Update, the brokerage said the life science industry started 2024 with measured optimism because of "a flurry of announcements, from fundraising to mergers and acquisitions" that occurred at year end.
"We're seeing more of that in the first months of 2024, signaling that life sciences has reverted to its long-term growth trend," Cushman said in the report.
Jason D’Orlando, leader of Cushman & Wakefield’s America’s life and technology science group, said the decision to add Rice is part of a long-term plan to help clients best use their lab and life science spaces now and in the future.
"We brought her on not necessarily in response to an immediate increase in demand, but to ensure we are on the cutting edge of analyzing and optimizing space requirements for our clients," D'Orlando said in a statement. "This allows us to provide more comprehensive and informed options, helping our clients make the best investments in their facilities, especially in light of increased supply in the market."
During her career, Rice has worked in laboratory operations and in business operations in the biotechnology industry, where she supported companies focused on small and large molecule drug discovery, cell and gene therapy and genomics.
Rice earned a bachelor’s degree in molecular and cell biology and a certificate in project management from the University of California at Berkeley.