Brand-new labs are coming to the Research Forest.
Alexandria Real Estate Equities is redeveloping more than 12 acres in The Woodlands, the Houston Business Journal reported.
A 325,000-square-foot life sciences campus at 8800 Technology Forest Place will cost about $200 million, or about $615 per square foot, to build.
The land cost $11.9 million in 2020, when Alexandria bought it in a partnership with Nurix Therapeutics. Nurix leased part of the site to expand its drug discovery and development capabilities with a 20,000-square-foot lab.
Alexandria demolished two of the original four buildings on the site and gutted the other two for a complete rebuild. One new building and a four-story parking garage are also in the plans. The buildings will surround an inner park outfitted with seating, fire pits and bocce courts.
Most of the space will be designed for life science companies, but about 30,000 square feet will be speculative.
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The space will offer purpose-built space that won’t require a lot of build-out for life-science tenants that “don’t have time to wait nine months to a year to build out their laboratory space,” Justin Brasell with Transwestern, who handles leasing for Alexandria, told the outlet.
Based in California, Alexandria specializes in developing and operating life science and technology campuses across the country, including multi-million-square-foot facilities in San Diego, the San Francisco Bay Area, Seattle, Boston, New York City, Maryland and North Carolina.
— Victoria Pruitt