The development partnership of J. Small Investments, Montgomery Street Partners, and an affiliate of Lyda Hill Philanthropies recently announced the opening of a long-awaited laboratory space at Pegasus Park — the life sciences- and biotech-focused redevelopment of the former Mobil Oil Corp. campus in northern Dallas.
Marking the latest addition to Pegasus Park, the recently opened Bridge Labs welcomes growth-stage biotech companies with high-quality flexible lab and office space that’s one of a kind in the region. The facility incorporates 135,000 square feet spread across two floors and is connected to the park’s central office tower by a skywalk.
This opening brings much-needed institutional-quality laboratory and research space to north Texas, where the emerging biotech hub exerts pressing demand for room to grow. Spanning 26 acres and incorporating 750,000 square feet of class A Dallas commercial real estate space, Pegasus Park is already home to several life sciences companies, nonprofits and educational institutions, including UT Southwestern Medical Center’s Office of Technology Development.
“Bridge Labs at Pegasus Park provides companies with the ability to grow their businesses, add members to their staff and increase their footprint without having to leave the Pegasus Park campus,” said Steve Davis, president of J. Small Investments. “We are thankful to the City of Dallas, investors, and all of our partners for the support in delivering this project to north Texas and growing our region’s rapidly growing life sciences ecosystem.”
The new space will immediately benefit the BioLabs Pegasus Park biotechnology startup community that opened on campus in 2022 and will now scale up into fully built-out graduation space and individual private lab/office suites. The best-in-class facility boasts upgraded power; backup generator capacity; HVAC and gas service; shared spaces and equipment; and pre-built laboratory suites that come with the tools and flexible space that innovative life sciences companies need to thrive.
State-of-the-art amenities on campus include a 16,000-square-foot conference center, local craft brewery Community Beer Co., The Compound on-campus café, outdoor patio space with firepits, and a Hidden Gym Fitness Center.
“We are confident that Bridge Labs will continue to attract life sciences and health care companies and institutions to our region, resulting in additional intellectual capital; top-quality and high-paying technical jobs; and an increase in access to cutting-edge science,” said Sam Johnson, principal at Montgomery Street Partners.
“Pegasus Park, BioLabs, and now Bridge Labs are crucial parts of an economic engine, driving highly desirable STEM jobs to Dallas and West Dallas while fostering significant innovation across the life sciences,” added Dallas City Council Member Omar Narvaez. “We are investing in the potential of our community, and I have no doubt that this facility will be a hub of discovery and progress in solutions for human health for years to come.”
Pegasus Place is the 18-story office tower at the heart of the Pegasus Park campus. It originally served as headquarters to jewel retailer Zale Corp. Property image courtesy of CommercialEdge.com.
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Last modified: October 8, 2024
About the Author / Ioana Ginsac
Ioana Gînsac is a creative writer covering all-things-CRE for several Yardi product publications. Topics include industry news, U.S. office and industrial market reports, as well as features on development, architecture, urbanism, proptech, design, and more. Her work has appeared in AmericanInno, Bisnow, BusinessInsider, Commercial Property Executive, Curbed, Fast Company, Forbes, GlobeSt, Inc, Patch, The Real Deal.