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The deal to bring Bridge Labs to Pegasus Park was another big step toward a goal of many — turning Dallas into a major player in biotechnology.
The City of Dallas approved an incentives agreement in June that could be worth $8 million for developers Montgomery Street Partners and J. Small Investments.
With estimated construction costs of more than $110 million, the project will add 135,000 square feet of lab space to the burgeoning Pegasus Park campus. An existing 74,082-square-foot, two-story building will be renovated while a neighboring building will be knocked down and replaced. The buildings will have new laboratory amenities, shared spaces and pre-built lab suites. Bridge Labs will cater to early-stage life science users, like university researchers and young startups, by providing shared equipment and space so they don’t have to spend millions of dollars on equipment of their own.
Design is being handled by Perkins&Will. The project is slated for completion later this year.
Bridge Labs better positioned Pegasus Park to be selected as a regional hub for the National Institutes of Health’s new Advanced Research Projects Agency for Health, or ARPA-H.
This story is about one of the winners in Dallas Business Journal's Best Real Estate Deals, honoring the best new projects and deals of 2023. To read about the other winners, go here.
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