The Woodlands: Pharmaceutical Firm Leases Headquarters Space

In The Woodlands, Lexicon Pharmaceuticals has leased 25,288 SF in The Woodlands for its new corporate headquarters.

In late 2020, Lexicon Pharmaceuticals sold its former headquarters campus in The Woodlands to California-based Nurix Therapeutics. That sale meant Lexicon Pharmaceuticals needed to search for a new headquarters.

On Tuesday, it was reported Lexicon Pharmaceuticals leased a full 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 duo also handled the sale of Lexicon’s headquarters a few months ago.

This recent real estate activity indicates the growing importance of the Life Science sector in Houston.

NAI Partners has been working with companies in the life sciences sector for years, and as Houston has become a more appealing destination than ever for the Life Sciences sector, NAI Partners’ Life Sciences & Healthcare Services team continues to assist national firms as they expand their footprints to Texas.

Jon Silberman

Last year’s sale of Lexicon’s previously corporate campus at 8800 Technology Forest was the single-largest commercial real estate sales transaction in the Life Sciences sector in the Greater Houston area in 2020, as stated by NAI Partners.

“Following the sale of 8800 Technology Forest, Lexicon knew it wanted to remain in The Woodlands, and we were pleased to find high-end office space that was representative of the company’s stature as one Houston’s premier life sciences organizations and also a stone’s throw away from their previous headquarters, ensuring business continuity,” said Boyles.

Lexicon Pharmaceuticals is a biopharmaceutical company that is applying a unique approach to gene science based on Nobel Prize-winning technology to discover and develop precise medicines for people with serious, chronic conditions. Using a patient driven approach, the company is working to discover and develop innovative medicines to safely and effectively treat disease and improve patient lives.

The Woodlands, located about 27 miles north of downtown Houston, is a 28,000-acre community that opened in 1974. The Woodlands community was founded by the late George Phydias Mitchell, a Galveston native and pioneering oilman who is known as the father of fracking.