In the realm of life sciences, immediate availability and operational readiness of lab space are paramount. Steven Davis, President and Chief Operating Officer of J. Small Investments, articulated this perspective at Bisnow’s Future of DFW Life Sciences Summit, likening the need for such facilities to the desire for ripe bananas—”These companies, they do not want to buy green bananas; they require spaces that are fully complete and ready for immediate occupancy.”
The urgency in securing prepared lab environments is underscored by the rapidly evolving timelines of startups in the life sciences sector. According to Davis, with typical startup cycles averaging approximately 18 months, time is a critical factor. Therefore, taking calculated risks by establishing ready-to-use properties is essential in attracting these innovative firms.
Davis has been instrumental in transforming the former campus of ExxonMobil into the expansive 25-acre Pegasus Park life sciences hub. At the summit, he highlighted the imminent launch of the Bridge Labs, a new 135,000-square-foot research and development facility, which will significantly enhance the lab space available within the campus.
However, the quest for suitable laboratory spaces extends beyond mere physical properties; proximity to research institutions and the facilitation of collaborative networks are equally important. Davis described this dynamic as a complex mix, thus denoting the significance of a holistic strategy.
As the Dallas-Fort Worth area ascends in stature as a pivotal life sciences hub, industry leaders, including Davis, are not solely focused on expanding lab facilities but are also directing efforts toward attracting venture capital and strengthening partnerships with local academic institutions. These initiatives are critical for fostering an environment conducive to innovation and growth within the sector.
Davis anticipates a significant “snowball effect” over the next three to ten years, predicting an influx of institutional investors establishing a presence in Dallas to engage in this burgeoning field.
In conclusion, the collective insights shared at Bisnow’s summit indicate a proactive approach towards nurturing the life sciences ecosystem in North Texas, ultimately propelling the region to new heights in research and development.
For further insights on developments in the North Texas area, please refer to Every Last Word.
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