Oldham Goodwin Capital makes record-breaking sale on Westinghouse Building in College Station
COLLEGE STATION, Texas (KBTX) -The Westinghouse building in Providence Park has been sold to a Dallas based company after being owned by Oldham Goodwin Capital for six years.
The old Westinghouse campus was occupied by an electronics company that built radar systems for the air force in College Station between 1983 until 1999. After they closed, the old campus sat empty in the middle of College Station for nearly two decades.
In 2016, Oldham Goodwin Capital decided to redevelop the property. Casey Oldham, CEO and Chief Investment Officer of Oldham Goodwin, told KBTX his partner Hunter Goodwin and himself felt the need to act on the property.
“It used to be the Google campus of its time, just sitting there. It was vacant,” said Oldham. “We then partnered with the city of College Station, Brazos county, Texas A&M University, and worked together to make a collaborative plan to turn this into a life science park.”
At the time, Oldham Goodwin Capital was traditionally known as a retail, multi-family and hotel master community developer. Oldham said the life science sector of it all was something him and his team had never been involved in before.
“After researching and talking to Lynntech, the company there at the time, we just were determined to make sure we knew what we were doing. We asked them what we needed to do to make this space most meaningful to them and they said to add more life science companies,” said Oldham. “We had a mission and throughout the six years we owned it, we stuck with it.”
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. Now, Dallas based Big Sky Medical is joining.
Oldham Goodwin said the sale to Big Sky Medical was five times more than their original investment.
Former College Station Mayor, Karl Mooney, said for Big Sky Medical to buy property in Brazos County is a huge deal.
“For them to come here in this secondary market...they’ve never done it before,” said Mooney. “They are one of the largest companies for this in the world and its shows value. I really give credit to Casey Oldham for sticking with the building and really just putting so much work in it for our area.”
Mooney said its a big step for the Brazos Valley due to how much the community and surrounding area has grown.
“Remember being right there on Highway 6, Highway 6 is about to see some major upgrades as well,” said Mooney. “Traffic will be increasing. It’ll be easier to get to this location and [Highway] 249 now is open. Its only an hour from IAH airport. Things have changed so dramatically here in the last 20 years. This is very exciting and really, I think we are only scratching the surface on what’s to come for not only Brazos County but for Texas.”
Oldham Goodwin is still managing the property in Providence Park, which Oldham said is great due to Big Sky Medical usually preferring to manage and own their property.
Oldham told KBTX they still own nearly 30 acres in Providence Park and look forward to further developing the area.
For more information on Oldham Goodwin Capital, click here.
Copyright 2022 KBTX. All rights reserved.