Bayer, known for its work with Lubbock's Texas Tech University, needed a place to expand its research and development arm and found it with the help of a new lease at Reese Technology Center, a business and research park converted from what was once an Air Force base.
The company signed a lease totaling more than 47,000 square feet at 101 Runway Drive within the business park, with Bayer also leasing nearly 22,000 square feet of space adjacent to the building. The business park was converted from an Air Force base more than two decades ago. The lease earned a 2023 CoStar Impact Award, as judged by real estate professionals familiar with the market.
About the deal: Bayer's research and development arm expanded into a new office space totaling more than 47,000 square feet at 101 Runway Drive within Reese Technology Center, as well as almost 22,000 square feet of space adjacent to the building it occupies.
What the judges said: "The idea of repurposing a facility such as Reese continues to be an amazing use of an area that in most cities is an eye sore," said Robert Wood, owner of Robert Wood Custom Homes.
They made it happen: Murvat Musa, CEO of Reese Technology Center, oversaw the deal.