Pegasus Park has opened a new 135,000-square-foot facility called Bridge Labs to support the growth of biotech startups in Dallas. The facility, located within the 26-acre Pegasus Park campus, consists of laboratory and office space designed to accommodate fast-growing biotech companies. Bridge Labs complements the existing 37,000-square-foot biotech startup incubator at BioLabs, which opened in 2022.
The new facility features purpose-built shell laboratory space for users up to 60,000 square feet and pre-built lab suites ranging from 4,500 to 8,000 square feet. Gabby Everett, director of business operations and strategy and site head for BioLabs Pegasus Park, described the pre-built labs as “graduate suites” for startup companies that have grown out of the incubator space but are not yet ready to occupy large spaces on their own. One company has already agreed to take 50,000 square feet at Bridge Labs.
opening Bridge Labs in Dallas
The City of Dallas provided Pegasus Park with nearly $8 million in economic incentives, including a $3 million economic development grant and $4.77 million in property tax abatements over 10 years. The opening of Bridge Labs marks a significant step in Dallas’ emergence as a life sciences hub, with Pegasus Park at the center of the action.
According to a report by the Perryman Group, the operations of entities at Pegasus Park at full master-plan buildout are expected to generate $1.9 billion in annual gross product and 15,180 jobs in the Dallas area. The construction of Bridge Labs alone is estimated to generate nearly $105.5 million in gross product and about 965 jobs. Steve Davis, president of J.
Small Investments, and Sam Johnson, principal at Montgomery Street Partners, expressed confidence that Bridge Labs will attract more life sciences and healthcare companies to the region, resulting in additional intellectual capital, high-paying technical jobs, and increased access to cutting-edge science.
