The life science industry aims to transform the world by blending research and developments into lifesaving healthcare products. A thriving life sciences market follows a healthy “cluster model,” which can be simplified into one word: convergence. The market needs to have educational institutions, capital sources, and government institutions heavily invested in translating science and technology into advanced therapies and devices to improve a population’s health on a broad scale.

Texas is no longer a flyover state for the life sciences industry as Dallas-Fort Worth has rapidly become the next emerging market. As the fourth largest MSA in the country, DFW is home to over 7.6 million residents sprawling over 9,000 square miles. With its immense size, DFW has access to the perfect cluster of resources needed to further advance the life sciences industry.

Future Talent:

The emergence of Dallas-Fort Worth into the life sciences market is largely due to the close proximity to 30 colleges and universities, such as the UT Southwestern Medical School, University of North Texas Health Science Center, Southern Methodist University, UTA, UTD, SMU and Texas Woman’s University. Currently, students across this region are already advancing the industry by evolving research and developments to fuse A.I. with advanced chemistry and biology to create innovative solutions for pharmaceutical development. As students graduate from these institutions, 75 percent of the graduates choose to stay and launch careers in the area, which is why DFW has one of the highest talent growth rates in Texas and is now one of the top markets for STEM talent. Click to read more at www.dmagazine.com.

JLL Capital Markets announced today that it has closed the sale of Methodist Transitional Care Center, a 100-bed, 66-unit, transitional care facility in the Dallas suburb of DeSoto.

JLL represented the seller, Madison Marquette, in the sale to LFI Real Estate. The absolute net lease had just over 13 years of primary term remaining at sale, but there are also two five-year renewal options. The cap rate based on year one rent is 6.8%.

Methodist Transitional Care Center is leased to a joint venture between Methodist Health Systems and HMG Healthcare. The facility is equipped with advanced technologies and specialized resources for patients needing intravenous therapy, physical therapy, speech therapy, occupational therapy, wound care, pulmonary care and many other treatments and services. The center features a large state of the art therapy gym, resident dining area, full bathrooms with showers in all resident rooms, a fully outfitted commercial kitchen and a centrally located administration area with offices, storage and a conference room.

The facility is situated at 109 Methodist Way and is well located to serve discharges from the four Methodist Health Systems hospitals within 15 miles of the property. Developed by Madison Marquette in 2020, the facility is licensed as a skilled nursing facility and is Medicare certified.

The JLL Capital Markets team representing the seller was led by Managing Directors Charles Bissell and Evan Kovac.

TradeLane Properties announced the acquisition of 1650 S. Cherry Lane, a former “big box’ retail facility totaling 120,200 square feet in Fort Worth. This facility is situated on 8.52 acres with three drive-in doors, four dock doors, 18-foot clear height, 1,600 amps of power, 201 auto stalls and a 370-foot deep truck court.

Purchased within the TradeLane Properties U.S. Industrial Fund II, a value-add investment fund focused on key Central U.S. logistics markets, this investment was 100% vacant upon acquisition. As part of its investment strategy, TradeLane Properties has rezoned the premises to warehouse/distribution and will redevelop the facility to an industrial facility offering significant outside storage. Improvements include new LED lighting, significant asphalt and concrete work, security fencing, exterior and interior building paint, additional dock doors and new spec office space. The redeveloped asset is listed for lease with Todd Hubbard and Jake Blankenship with NAI Robert Lynn.

TradeLane Properties would like to thank Todd Hubbard and Jake Blankenship with NAI Robert Lynn, Wintrust Bank, and Barack Ferrazzano Kirschbaum & Nagelberg LLP for their assistance in this transaction.

Dallas-based national multifamily investor, S2 Capital has added 14 properties to its portfolio that spans both Dallas-Fort Worth and Houston—totaling 4,455 units with a total of 11 properties based here in North Texas.

According to Real Capital Analytics, S2 Capital is now the No. 1 most active buyer of multifamily in Dallas-Fort Worth in the past five years with its latest acquisition.

Each of the 14 properties was built between 1979 and 1987, and S2 has already begun planning renovations for the exterior and interior of each asset. In an attempt to “offer current and prospective residents an enhanced community experience,” some of the exterior renovations will include enhanced pools, fitness centers, leasing offices, clubhouses, and fresh paint and siding. Similarly, it plans to give each interior a facelift with new flooring, countertops, kitchen and shower tile, light fixtures, hardware, and appliances.

Scott Everett, founder and CEO of S2, told D CEO: “We believe DFW is now the best multifamily investment market in the country. You have to be bullish about a market with record in-migration, a business-friendly climate, household income growth, manageable inventory levels, and strong housing demand. We are very excited about the future of Dallas.” Click to read more at www.dmagazine.com.

Colliers has announced the launch of leasing and marketing efforts for the comprehensive redevelopment of Radiance Plaza, a boutique office property located at 1301 Young St., immediately adjacent to the AT&T Discovery District. The building has a large contiguous vacancy of 107,463 rentable square feet, including a rare, oversized floor plate of 55,182 rentable square feet and parking of up to 3:1000. Building signage and naming rights are available for the property.

“We are thrilled to lead the marketing of this iconic asset,” said Colliers Executive Vice President Sara Terry. “With its incomparable Downtown Dallas location between the AT&T Discovery District – which had more than 2.7 million visitors in 2021 – and Dallas City Hall, Radiance Plaza has the potential to attract a diverse range of businesses as long-term tenants,” Terry continued. “The surrounding neighborhood has dramatically transformed over the past two years. We expect Radiance Plaza to generate exceptional interest from tenants seeking an unparalleled, amenity-rich destination with phenomenal access in the heart of the CBD.”

Originally developed as a corporate headquarters, then leased for more than 20 years by federal agencies, this is the first time in its history that Radiance Plaza is available for lease by the broader market. With the opening of the AT&T Discovery District to the north and the planned expansion and redevelopment of the Dallas Convention Center to the south, there is substantial positive momentum to capitalize on. As further planned development occurs up to I-30 and across to the Cedars, Radiance Plaza sits at the nexus of Dallas’ new urban core.

Renovation plans for Radiance Plaza include a redesigned grand lobby featuring a 12-story glass atrium with sweeping views of the adjacent 11.8 acres of city parks, highly sought amenities including an extensively landscaped outdoor plaza, a state-of-the-art conference center, well-appointed tenant lounge space, rooftop lounge and updated common areas and restrooms throughout.