In the realm of life sciences, swift access to ready-to-use laboratory facilities is crucial. Steven Davis, President and Chief Operating Officer of J. Small Investments, articulated this sentiment at Bisnow’s Future of DFW Life Sciences Summit, stating, “These companies, they do not wish to acquire green bananas; they seek to have spaces available for immediate occupancy and operational readiness.” Davis highlighted the urgency life sciences firms face in establishing their operations, emphasizing the necessity for real estate providers to take calculated risks in developing these essential infrastructures.
At the summit, which attracted leading figures from the industry, including JLL Managing Director Ethan Garner and Admiral Legacy CEO Ese Aihie, Davis shared insights on the key elements that draw life sciences companies to North Texas. Citing the accelerated startup cycle of companies such as BioLabs, which typically spans only 18 months, he underscored the importance of having pre-developed laboratory spaces available for immediate use. For instance, J. Small Investments is poised to unveil the 135,000-square-foot Bridge Labs research and development facility later this year, which will significantly enhance the available laboratory space at the Pegasus Park life sciences hub, formerly an ExxonMobil campus.
Furthermore, Davis stressed that proximity to research institutions and fostering collaborative environments are pivotal factors in creating attractive lab spaces. He metaphorically described the ideal conditions for these facilities as a “fruit salad of factors.”
As Dallas-Fort Worth continues to rise as a prominent life science hub, Davis and his colleagues are not only focused on expanding laboratory offerings but also on attracting significant venture capital and strengthening connections with local universities. He forecasted a forthcoming “snowball effect” of growth and success over the next three to ten years, with institutional investors establishing a presence in Dallas to engage with the burgeoning industry.
In conclusion, the continual development of ready-to-occupy lab spaces, closer ties with academic institutions, and enhanced venture funding are imperative for the life sciences sector to thrive in North Texas. The insights from prominent industry leaders such as Steven Davis indicate a robust and dynamic future for this critical area of innovation and research.
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