THE WOODLANDS – (Realty News Report) – Lexicon Pharmaceuticals has leased 25,288 square feet in The Woodlands to establish its new corporate headquarters.
After selling its former headquarters campus in The Woodlands to California-based Nurix Therapeutics in late 2020, Lexicon Pharmaceuticals began the search for a new headquarters location.
On Tuesday, the company announced it has leased an entire floor at 2445 Technology Forest Blvd., a 12-story building near Lake Woodlands.
NAI Partners’ Dan Boyles and Jon Silberman represented Lexicon Pharmaceuticals in the lease transaction. The same team previously handled the sale of Lexicon’s former headquarters.
This move highlights the expanding importance of the life sciences sector in the Houston area.
NAI Partners has been working with life sciences companies for years. As Houston becomes an increasingly attractive destination for life sciences firms, NAI Partners’ Life Sciences & Healthcare Services team continues to assist national companies expanding their presence in Texas.
According to NAI Partners, last year’s sale of Lexicon’s former corporate campus at 8800 Technology Forest represented the largest commercial real estate transaction in the life sciences sector in the Greater Houston area in 2020.
“After the sale of 8800 Technology Forest, Lexicon wanted to remain in The Woodlands. We were pleased to locate high-end office space that matches the company’s stature as one of Houston’s premier life sciences organizations and is only a short distance from their previous headquarters, ensuring continuity for their operations,” said Boyles.
Lexicon Pharmaceuticals is a biopharmaceutical company using a gene-science approach rooted in Nobel Prize–winning technology to discover and develop targeted medicines for people with serious, chronic conditions. With a patient-focused philosophy, the company seeks to design and advance innovative therapies that safely and effectively treat disease and improve patient outcomes.
The Woodlands, located about 27 miles north of downtown Houston, is a master-planned community spanning approximately 28,000 acres. Opened in 1974, The Woodlands was founded by the late George P. Mitchell, a Galveston native and influential oil industry figure.
April 13, 2021 Realty News Report. Copyright 2021.
File: Pharmaceutical Firm Leases Headquarters Space in The Woodlands
Photo: Courtesy NAI Partners
For additional reading on Texas real estate, see the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins.