Medistar Selects Cushman & Wakefield

HOUSTON – (Realty News Report) – Medistar Corp. has selected Cushman & Wakefield to provide leasing services for Horizon Tower, a 485,000-SF life sciences building under construction at Texas A&M Innovation Plaza, which is adjacent to Texas Medical Center.

Last July, it was announced the JLL would be handling leasing for the building. But on Friday, a change was announced.  The building will be represented by a Cushman & Wakefield leasing team, including veteran leasing specialist Tim Relyea, who has closed $47 million of transactions totaling 60 million SF over his career.

Medistar’s development will be a significant addition to the Texas Medical Center, the largest medical center in the world with a workforce of more than 100,000 people.

Located on five acres at the intersection of Holcombe Boulevard and Main Street, Texas A&M Innovation Plaza also includes Discovery Tower, an 18-story, 280,000-square-foot academic building anchored by Texas A&M’s Engineering-Medicine (EnMed) program, and Life Tower, a 19-story, 714-bed student housing community – all centered by nearly an acre of open-air greenspace.

“Horizon Tower and Texas A&M Innovation Plaza are perfectly positioned to attract life sciences and medical device companies of all sizes and scale,” said Craig Laher, Senior Vice President for Development at Medistar. “The distinctively designed campus embodies research and discovery inspired spaces, while Horizon Tower’s diverse infrastructure strategy supports the life sciences industry. This is envisioned to range from computational analytics to wet labs, vivarium, and everything in between.”

Horizon Tower will include 17 stories of life sciences and medical space with three floors offering 38,000-SF floorplates and 14 stories providing 28,000-SF floorplates, all with visibility and access from Main Street, Holcombe Boulevard and Fannin Street.

Horizon Tower’s floors of medical space will sit atop a 13-story, 2,700-space parking structure  with 15,000 SF of ground-floor retail.

A Cushman & Wakefield team including Executive Vice Chairman Tim Relyea, Executive Managing Director William Hartman, Executive Managing Director Morgan Colt, Managing Director Michael Baraldi and Associate James Gale represent Medistar in leasing Horizon Tower, targeting life sciences and medical device/technology companies. Horizon Tower is currently under construction and is slated to deliver in early 2023.

Monzer Hourani, head of Medistar. Photo credit: Ralph Bivins, Realty News Report.

Houston is home to more than 1,760 life sciences companies and 360,000 healthcare and life sciences workers, including more than 18,000 biotech specialists and 25,000 of the world’s top medical researchers and scientists. More than 5,000 clinical trials were active in Houston in 2019, representing 14% of all clinical trials in the U.S., while the region attracted nearly $180 million in life-sciences venture capital. Institutions such as Baylor College of Medicine, a global leader in genomics, and the University of Texas MD Anderson Cancer Center conducted $1.9 billion in life sciences research in 2018 and attracted more than $654 million in NIH Funding in 2017.

Founded in 1974 by CEO Monzer Hourani, Medistar is a Houston-based national real estate company that focuses on the development of medical and healthcare-aligned projects.


Jan. 29, 2021 Realty News Report Copyright 2021


File: Medistar Selects Cushman & Wakefield


Rendering courtesy Cushman & Wakefield


File: (2) Texas A&M. Horizon Tower. Medistar Selects Cushman & Wakefield

 

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