(HOUSTON) – Hines, the international real estate firm, and 2ML Real Estate Interests today revealed the first renderings for the initial building at Levit Green along with new aerial views of the 53-acre life science district. Adjacent to the Texas Medical Center, Levit Green will offer a new level of life science product in Houston. Together with award-winning architect, HOK, the five-story, 270,000-square-foot Phase I building is designed to best serve today’s advanced laboratory needs. JLL’s bicoastal team of life science experts has been selected as leasing representative for the project.
“Houston is quickly emerging as a top life science cluster city and has been able to do so without the purpose-built product established in other locations,” said John Mooz, senior managing director at Hines. “The Phase I project at Levit Green has been thoughtfully designed from the inside out to include features that are required of a top-tier research environment. We are excited to deliver the highest quality of building that will enable industry leaders to better conduct their critical research.”
Utilizing a national, integrated team, Hines has taken careful consideration during the design phase to incorporate the unique needs required by top life science tenants. Building features will include: 100% redundant emergency power, enhanced structural vibration attenuation and augmented mechanical systems. 33-foot structural bay depths and floorplates in excess of 55,000 square feet will also enable research and office teams to create hyperefficient configurations that enable teamwork and collaboration.
Situated on the first of several lakes that create Levit Green’s urban oasis, Phase I features a vibrant boardwalk experience that creates a serene environment to work or relax indoors or out. Tenants will enjoy best-in-class water-front amenities including a 5,800-square foot fitness center and outdoor garden, 7,000-square-foot conference center, 3,500 square feet of café and restaurant space and ample on-site parking. The ground floor plan is also programmed to accommodate more than 25,000 square feet of lab incubator space which will provide entrepreneurs and early stage life science companies top-tier, strategically located laboratory and office space as well as networking opportunities.
Houston produces more medical doctorates than any other MSA and generates more research doctorates in the key life science subject areas of biology and physical sciences (chemistry, physics, etc.) than San Francisco, San Diego and Seattle. Pairing this top talent along with the world’s largest medical center and more than 40 globally revered research institutions, it is clear that Houston has secured its position as one of the nation’s top emerging life science clusters. However, Houston has lacked industry driven lab space. Levit Green will help solve the real estate needs of Houston’s burgeoning industry-led life science community, providing a best-in-class research environment along with the unique ability to scale or grow in place. There are nine planned projects in the multisite district that can accommodate up to four million square feet of lab-centric mixed-use space at the epicenter of Houston’s life science hub.
The development, in partnership with 2ML Real Estate Interests, is slated to break ground on Phase I in Q2 2021 with occupancy beginning in Q4 2022. For more information visit www.LevitGreen.com.
About Hines
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 225 cities in 25 countries. Hines has approximately $144.1 billion¹ of assets under management, including $75.5 billion for which Hines serves as investment manager, including non-real estate assets, and $68.6 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,426 properties, totaling over 472 million square feet. The firm’s current property and asset management portfolio includes 576 properties, representing over 246 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information. ¹AUM includes both the global Hines organization as well as RIA AUM.
About 2ML Real Estate Interests (“formerly” The Grocers Supply Co., Inc.)
The Grocers Supply Co., Inc was founded in 1923 by Joe Levit. Joe’s sons grew the company to be the largest independently owned wholesaler of grocery products in the southeast United States and the largest supplier of Hispanic grocery products in the United States. The company entered the retail business by acquiring both Gerland’s Inc. and Fiesta Mart Inc., two locally owned independent supermarket chains. In December 2014, the company sold its wholesale business and the name “Grocers Supply.” The next year, the company sold Gerland’s and Fiesta. Pursuant to sale of the wholesale business and name, The Grocers Supply Co., Inc. changed its name to 2ML Real Estate Interests, Inc. 2ML has a portfolio of over 5,200,000 square feet comprising of warehouses, shopping centers, freestanding supermarkets and office buildings. Visit 2mlrealestate.com for more information.
