November 11, 2022
COLLEGE STATION — Oldham Goodwin [OG] has brokered one of the largest 2022 life science transactions in Texas, handling the sale of the Westinghouse Building at Providence Park in College Station to Dallas-based Big Sky Medical. Oldham Goodwin Capital, the real estate private equity investment and development arm of Oldham Goodwin, sold the 175,752 square-foot facility, which anchors the 52-acre research and life science campus. The property had been barely utilized since 1999 until OG Capital purchased it in 2016 and OG’s services divisions oversaw its transformation.
The sale was arranged by Oldham Goodwin Executive Vice President of Brokerage Services Clint Oldham.
“We identified Big Sky as the ideal purchaser for the anchor of Providence Park because of their impeccable track record in the medical and life science real estate sector,” Oldham said. “They more than lived up to that reputation as we worked together on this deal. Their acquisition of the property also validates Oldham Goodwin’s vision for and development of Providence Park as a crucial part of the life science work being done in the Brazos Valley.”
Big Sky has emerged as a national and leader in the medical and life science real estate industry. The company has raised hundreds of millions of dollars and has leveraged international partnerships to acquire medical facilities and life science properties throughout Texas and the United States.
Casey Oldham, CEO & Chief Investment Officer of Oldham Goodwin, praised all parties involved in the transaction.
“We developed and successfully executed on a long-term vision to transform Providence Park into a leading life science campus and add value to the local community,” said Casey Oldham. “We are extremely proud of the results, and we were only interested in a buyer who would steward the project well for the long haul. Big Sky was the only buyer we considered, and Clint flawlessly led us through what was a crucial and complex transaction.”
Big Sky retained Oldham Goodwin to continue its successful management of the Westinghouse property and hired them to manage other assets they have acquired in the Brazos Valley.
Originally built in 1983 as a Westinghouse Electronic Systems Group state-of-the-art advanced defense electronic component manufacturing facility, the building was shuttered in 1999. Oldham Goodwin Capital acquired the property in 2016 and set out on a long-term journey to develop a life science hub in the heart of Bryan/College Station. Tenants in the Westinghouse Building at Providence Park include Matica Biotechnology, Zoetis, Lynntech, and The Texas A&M Center for Innovation in Advanced Development and Manufacturing.
After the sale of the Westinghouse Building, Oldham Goodwin Capital still owns roughly 25 acres in Providence Park and will pursue further development in the life science sector.
For more information about Oldham Goodwin Capital or Oldham Goodwin’s full range of commercial real estate investment services, please call 979.268.2000 or visit OldhamGoodwin.com.
About Oldham Goodwin Capital
Oldham Goodwin Capital (OGC) is the real estate private equity investment and development platform of Oldham Goodwin specializing in the acquisition and development of office, retail, industrial, multifamily, and hospitality properties and master-planned communities and the development of office, retail, industrial, and mixed-use projects. OGC’s objective is to generate superior risk-adjusted returns for its investment partners. The principals of OGC provide sponsorship equity, organizing attractive debt and equity opportunities where all parties’ interests are fully aligned. OGC’s goals include preservation of investor capital, creation of asset appreciation through operational efficiencies and profit growth, generation of attractive yields via periodic distributions to investors, and superior investor relations and transparency by means of quality financial reporting. OGC accomplishes these goals through close work with Oldham Goodwin’s services divisions.
About Oldham Goodwin
Oldham Goodwin is a fully-integrated commercial real estate investment, brokerage, development, and management company that specializes in hotel, multi-family, and commercial properties and master-planned communities throughout the state of Texas. Our highly skilled professionals work together as a team to provide clients with accessible and reliable results in the real estate sector. Strategically headquartered within the heart of Texas in Bryan-College Station, Oldham Goodwin has additional offices to serve the greater Houston, San Antonio-Austin, Waco-Temple-Killeen, and Dallas-Fort Worth markets.