Stream Realty Partners has hired a Vice President in its Atlanta office to capitalize on the life sciences real estate boom in the city.
Kyle E.G. Smith, a Georgia native, recently relocated to Atlanta from Chicago, where he worked for Sterling Bay on various office and industrial projects that included life sciences acquisitions and development. At Stream Atlanta, Smith will be responsible for sourcing, winning, and executing business across all service lines, including acquisition and development opportunities in the life sciences space.
“I grew up in Middle Georgia, and I have several friends who graduated from several of the state’s leading universities with aspirations to be a scientist here only to realize that the infrastructure and lab space weren’t available in the market to support their careers,” Smith said. “As a result, these individuals either moved to one of the major healthcare/life science hubs or switched careers. I believe in Atlanta and am excited that I’ll be able to serve the life science community through Stream’s robust service offerings and help tackle a major issue for lab users, which is the lack of specialized space within the market.”
While in Chicago, Smith closed and managed the development of one of the few life science facilities in the city. The project, which is expected to be delivered in 2023, will be a state-of-the-art, 9-story, 280,000-square-foot life science building known as ALLY. ALLY was the first project within Sterling Bay’s mixed-use megadevelopment, Lincoln Yards, spanning 70 acres and totaling $7 billion over 10 years. Smith asset managed Lincoln Yards while also pursuing other sites for life science development and office-to-lab conversions.
Prior to working at Sterling Bay, Smith held several roles with real estate companies including Heitman, USAA Real Estate, and HFF, which was acquired by JLL. During his time in Chicago, he earned his Master of Business Administration degree in finance and entrepreneurship from The University of Chicago Booth School of Business.
Smith said he learned the true meaning of servant leadership when he joined the U.S. Air Force after graduating from Howard University in Washington, D.C., with a Bachelor of Arts degree in economics. He served as a Lieutenant at Joint Base McGuire-Dix-Lakehurst near Trenton, New Jersey, before transferring to Robins Air Force Base in Warner Robins, Georgia, as a Captain. Stream is proud to have more than 50 self-reported military servicemen and women in its ranks throughout the United States.
Georgia’s life science-related occupations–especially biochemists, animal scientists, medical scientists, and ophthalmic lab technicians–are projected to grow faster than the U.S., increasing by 7 percent over the next 10 years, according to Georgia Power Community and Economic Development statistics. In fact, Atlanta led the country in research and development employment growth over 2021. Atlanta is 1 of 3 Sun Belt markets where space for collaboration, research, and production will be in high demand thanks to increased funding for the life sciences. The city is home to leading research universities including Georgia Tech and Emory, as well as the Centers for Disease Control and Prevention, Takeda, Alcon, and Intuitive Surgical.
“The need for both wet labs and dry labs around the U.S. continues to grow, and Atlanta has space to develop new facilities and retrofit older buildings to help meet that need,” said Ben Hautt, Executive Managing Director and Partner of Stream Atlanta. “Kyle is joining our office at an exciting time, with plenty of opportunities to help us widen our footprint in the life sciences real estate market.”
In his spare, Smith enjoys spending time with his kids, traveling out of the country with his wife, hunting, hiking, fishing, and restoring classic muscle cars.