Medical Tech Firm Consolidates and Upgrades Facilities

An aerial shows the site for the Beltway Southwest Business Park.

HOUSTON—As part of an overall strategic site assessment, Dräger evaluated proximity to labor and client densities, traffic patterns, amenities and proximity to the port. After considering a build-to-suit and several possible purchase alternatives, the German-based company elected to enter into a lease with Hines in its new premier business park in southwest Houston. Dräger sought to consolidate its operations while modernizing and upgrading its facilities with the 37,651-square-foot lease. It relocated several out-of-state personnel to Houston and consolidated two existing locations in Sugar Land, TX and Pasadena, TX as part of its continued commitment to grow market share in Houston.  Dräger is one of the first few tenants to commit to the Beltway Southwest Business Park project and it is anticipated that it will move into the new facility in late summer. “Dräger is an excellent addition to our growing tenant roster at Beltway Southwest and we feel that their premier brand is a perfect fit for our project,” says Charlie Meyer , director with Hines . “We look forward to beginning our relationship with them and believe our project’s prominent location combined with quality architecture and excellent visibility from the beltway will help them to further enhance their image and presence in the Houston area.” Hines’ Beltway Southwest Business Park is a 75-acre, 1 million-square-foot industrial park located at the northeast corner of Beltway 8 and Fort Bend Toll Road. The first phase of the project, a 350,000-square-foot tilt-wall concrete construction building, will be complete in early 2016. Phase I will include a 240,000-square-foot cross dock building featuring 32-foot clear height and 52 by 47-foot column spacing as well as an 110,000-square-foot rear load building featuring 28-foot clear height and 52 by 45-foot column spacing. The property boasts ample parking and excellent access to all Houston submarkets via Beltway 8, Southwest Freeway, Fort Bend Tollway and Highway 288. The Houston office of Cresa , a real estate advisory firm that exclusively represents tenants, represented Dräger in the transaction. André Granello , managing principal, and Ray Lopez , senior adviser, were the Cresa representatives. Jim Foreman with Cushman and Wakefield represented the developer, Hines. Granello tells GlobeSt.com: “Our client Dräger, had multiple options and considered a build-to-suit as well as purchase alternatives; however, at the end of the day, it entered into a lease with Hines after evaluating multiple factors and saw the value in the emerging southwest industrial submarket of Houston.” Dräger is an international company in the fields of medical and safety technology. It makes breathing and protection equipment, gas detection and analysis systems, and non-invasive patient monitoring technologies.