The Westinghouse Constructing. Picture courtesy of Oldham Goodwin
Within the state’s largest life science actual property transaction this 12 months, Huge Sky Medical has acquired the Westinghouse Constructing at Windfall Park in Faculty Station, Texas. The ability was offered by Oldham Goodwin Capital, who had initially bought the asset in 2016.
The transaction value was not disclosed; nonetheless, CommercialEdge knowledge reveals the customer financed the acquisition with a $190 million mortgage from Capital One. Mike Henderson, vice chairman of investor relations at Oldham Goodwin, stated in ready remarks that the power’s gross sales value yielded a return higher than 5 occasions the quantity of the unique acquisition value.
The 175,752-square-foot Westinghouse Constructing anchors the 52-acre Windfall Park, a mixed-use campus comprising life science, workplace, manufacturing and retail area. Present tenants on the facility embody The Texas A&M Heart for Innovation in Superior Improvement and Manufacturing, Matica Biotechnology, Lynntech and Zoetis.
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Positioned at 2501 Earl Rudder Freeway S., the Westinghouse Constructing is simply east of State Freeway 6, some 4 miles from Texas A&M College. Initially accomplished in 1983, the power was initially supposed as an digital part manufacturing facility for Westinghouse Digital Methods Group. In 2016, Oldham Goodwin bought the power that had been largely underutilized since closing in 1999, in addition to 54 acres of surrounding land. The corporate redeveloped, managed and leased the asset for six years.
And Oldham Goodwin will proceed to handle the asset, in addition to different properties that have been bought by Huge Sky within the Brazos Valley. The agency nonetheless owns some 25 acres in Windfall Park, set to be additional developed for all times science initiatives.
