The Alexandria Advanced Technology Center at The Woodlands will be the developer’s first project in Houston. Image courtesy of Alexandria Real Estate Equities
alexandria real estate stocksThe nation’s largest life sciences developer brings its first campus to the Houston market with the announcement of a $201.5 million, 325,000 square foot multi-tenant development that will be home to its first purpose-built Class A laboratory structure. Open. At The Woodland.
Located on a 12-acre site at 8800 Technology Forest Place, The Woodlands’ Alexandria Advanced Technology Center’s first building is a 123,392-square-foot redevelopment project led by a San Francisco-based company. Nurix Therapeutics. Nurix, a clinical-stage biopharmaceutical company developing treatments for cancer and other diseases, leases approximately 47,000 square feet in the building.
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Nuricks and Alexandria built a campus that at the time consisted of 260,950 square feet and five buildings. lexicon pharmaceuticals Alexandria then assumed full ownership of the property and Nulix leased the redeveloped main building, which is now LEED Gold Core & Shell and Fitwell certified.
Lab space at the Alexandria Advanced Technology Center in The Woodlands. Image courtesy of Alexandria Real Estate Equities
The campus was designed by genslerwill feature move-in ready laboratory space and adjacent non-technical space, as well as laboratory support services. Amenities include modern meeting and event space, a courtyard and event lawn, a wellness and fitness center, and pickleball courts. Most of the new construction will be build-to-suit space for life science companies, but approximately 30,000 square feet is expected to be speculative space.
of houston business journal Alexandria reported that it demolished two existing buildings and gutted two others to the studs for redevelopment. Plans call for at least one new building and her four-story parking garage. The site is expandable.
Houston’s growing life sciences market
Joel Marcus, Executive Chairman and Founder of Alexandria Real Estate Equities; Alexandria Venture InvestmentsIn a prepared statement, the REIT’s efforts in The Woodlands will continue to grow since commercial life sciences was very limited until it opened its flagship Alexandria Life Sciences Center in New York City in 2020. He said it was comparable to the company’s entry into New York City. It has grown to 1.3 million square feet. Marcus said Alexandria is similarly working on a commercial life sciences development in The Woodlands, a suburb about 30 miles north of downtown Houston.
according to Newmarkis newly released Mid-2023 National Life Sciences Overview, the Houston market, which currently has approximately 4.9 million square feet of total inventory, is expected to deliver nearly 1 million square feet of life sciences space by the end of 2023. The top three life sciences owners in the market are: Beacon Capital Partners It has an area of 700,000 square feet and a market share of 16 percent. texas medical centerwith an area of 650,000 square feet and a market share of 15%. Board of directors Texas A&M University has 572,000 square feet and a 13% market share, according to Newmark’s report.
Important life science projects
Construction is underway on TMC Helix Park, formerly known as TMC3, which will become part of the Texas Medical Center District and potentially become the largest life sciences development in the world. The plan is to add 5 million square feet of life sciences space on the 37-acre site, further elevating the metro’s status as a leading life sciences cluster. TMC3 Collaborative Building is the first building being developed by Beacon Capital Partners and is expected to be completed this fall. The 250,000-square-foot building will house research facilities for MD Anderson, Texas A&M University Health Science Center, University of Texas Health Science Center at Houston, and TMC.
The second building, one of two towers that will be part of the 700,000 square foot Dynamic One property, is also expected to be completed this year. Baylor College of Medicine leases 114,000 square feet of laboratory and office space in a 355,000 square foot building.
based in houston Hines is building the 53-acre Levitt Green project adjacent to TMC, which will also include a laboratory and research facilities.
March, howard hughes company.teamed up with Vitorian to develop a cGMP/biomanufacturing facility within The Woodlands, where Seripont Bioservices, Millipore Sigma, VGXI, and KBI Biopharma already have ongoing operations. In August, mccord development Announced plans to build BioHub Two, a 45-acre, 500,000-square-foot speculative biomanufacturing campus in northeast Houston.
