{"id":1004686589,"date":"2023-10-20T03:04:48","date_gmt":"2023-10-20T11:04:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004686589"},"modified":"2023-10-20T04:53:43","modified_gmt":"2023-10-20T12:53:43","slug":"alexandria-launches-202m-life-science-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/alexandria-launches-202m-life-science-campus\/","title":{"rendered":"Alexandria Launches $202M Life Science Campus"},"content":{"rendered":"
\"Alexandria<\/a>

Alexandria Center for Advanced Technologies at The Woodlands marks the developer\u2019s first project in Houston. Image courtesy of Alexandria Real Estate Equities<\/em><\/p><\/div>\n

Alexandria Real Estate Equities<\/strong>, the largest life science developer in the country, is opening its first campus in the Houston market with the unveiling of a $201.5 million, 325,000-square-foot multi-tenant development that will be home to the first purpose-built Class A laboratory structure in The Woodlands.<\/p>\n

Located on 12 acres at 8800 Technology Forest Place, the first building at Alexandria Center for Advanced Technologies at The Woodlands is a 123,392-square-foot redevelopment project anchored by San Francisco-based Nurix Therapeutics<\/strong>. Nurix, a clinical-stage biopharmaceutical company developing drugs to treat cancer and other diseases, is leasing approximately 47,000 square feet in the building.<\/p>\n

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READ ALSO<\/strong>: Life Science Market to Bounce Back<\/a><\/p>\n

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Nurix and Alexandria acquired the campus<\/a>, which then had five buildings across 260,950 square feet, from Lexicon Pharmaceuticals<\/strong> in December 2020. Alexandria later assumed full ownership of the property with Nurix leasing the main, redeveloped building that is now LEED Gold Core & Shell and Fitwell-certified.<\/p>\n

\"Laboratory<\/a>

Laboratory space at the Alexandria Center for Advanced Technologies at The Woodlands. Image courtesy of Alexandria Real Estate Equities<\/em><\/p><\/div>\n

The campus, designed by Gensler<\/strong>, features move-in ready laboratory space and adjacent nontechnical space, as well as laboratory support services. Amenities include a modern conference and event space, a courtyard and event lawn, wellness and fitness center and pickleball courts. Most of the new construction will be build-to-suit space for life science companies but about 30,000 square feet is expected to be speculative space.<\/p>\n

The Houston Business Journal<\/em> reported Alexandria demolished two existing buildings and gutted two others down to the studs and redeveloped them. Plans call for at least one new building and a four-story parking garage. The site can be expanded.<\/p>\n

Houston’s growing life science market<\/strong><\/h2>\n

Joel Marcus, executive chairman & founder of Alexandria Real Estate Equities and Alexandria Venture Investments<\/strong>, said in a prepared statement the REIT\u2019s efforts in The Woodlands can be compared to the firm\u2019s entrance into New York City, where commercial life science was very limited before it opened its flagship Alexandria Center for Life Science \u2013 NYC in 2020. The campus has since grown to 1.3 million square feet. Marcus said Alexandria is similarly committed to developing a commercial life science presence in The Woodlands, a suburb located about 30 miles north of downtown Houston.<\/p>\n

According to Newmark<\/strong>\u2019s newly released Midyear 2023 National Life Science Overview<\/em>, nearly 1 million square feet of life science space is expected to deliver by the end of 2023 in the Houston market, which currently has about 4.9 million square feet of total inventory. The top three life science owners in the market are Beacon Capital Partners<\/strong> with 700,000 square feet and a 16 percent market share; Texas Medical Center<\/strong>, with 650,000 square feet and a 15 percent market share, and Board of Regents<\/strong> of the Texas A&M University with 572,000 square feet and a 13 percent market share, according to the Newmark report.<\/p>\n

Significant life science projects<\/h2>\n

Construction is underway on TMC Helix Park, previously known as TMC3, which will be part of the Texas Medical Center district and could become the largest life science development<\/a> in the world. Plans call for the addition of 5 million square feet of life science space across 37 acres, further boosting the metro\u2019s growing position as a major life science cluster. The TMC3 Collaborative Building, the first building being developed by Beacon Capital Partners, is slated to deliver this fall. The 250,000-square-foot building will house research facilities for MD Anderson, Texas A&M University Health Science Center, the University of Texas Health Science Center at Houston and TMC.<\/p>\n

A 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<\/strong> is leasing 114,000 square feet of lab and office space at the 355,000-square-foot building.<\/p>\n

Houston-based Hines <\/strong>is building the 53-acre Levit Green project<\/a> adjacent to TMC that will also have lab and research facilities.<\/p>\n

In March, The Howard Hughes Corp<\/strong>. teamed up with Vitrian<\/strong> to develop cGMP\/biomanufacturing facilities within The Woodlands, where firms Cellipont Bioservices, Millipore Sigma, VGXI and KBI Biopharma already have ongoing operations. In August, McCord Development<\/strong> unveiled plans for the construction of BioHub Two<\/a>, a speculative 45-acre, 500,000-square-foot biomanufacturing campus in northeast Houston.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nurix Therapeutics is anchoring the developer\u2019s first project in this major Sun Belt market.<\/p>\n","protected":false},"author":1068,"featured_media":1004686608,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,1589,21742,21747,51973],"tags":[32827,33012,32797,50999,52212,33156],"class_list":["post-1004686589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-houston","category-latest","category-office","category-southwest","tag-alexandria-real-estate-equities-inc","tag-gensler","tag-hines","tag-newmark","tag-nurix-therapeutics","tag-the-howard-hughes-corporation"],"acf":[],"yoast_head":"\nAlexandria Launches $202M Life Science Campus - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Alexandria Real Estate Equities is planning its first life science campus in Houston, a $201.5 million project in The Woodlands.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/alexandria-launches-202m-life-science-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alexandria Launches $202M Life Science Campus\" \/>\n<meta property=\"og:description\" content=\"Alexandria Real Estate Equities is planning its first life science campus in Houston, a $201.5 million project in The Woodlands.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/alexandria-launches-202m-life-science-campus\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-20T11:04:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-20T12:53:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Alexandria-Center-for-Advanced-Technologies.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"805\" \/>\n\t<meta property=\"og:image:height\" content=\"610\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/alexandria-launches-202m-life-science-campus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/alexandria-launches-202m-life-science-campus\/\",\"name\":\"Alexandria Launches $202M Life Science Campus - 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