Innovative Life Sciences Expands to 218,148 SF in North Texas With 83,838-SF McKinney Lease Brokered by Colliers

Colliers represented Innovative Life Sciences in the lease of 83,838 square feet at 350 Cypress Hill Drive in McKinney, Texas, the firm announced Aug. 28, bringing the company's total industrial footprint in North Texas to 218,148 square feet over the past four years.

The transaction marks the third deal Colliers DFW has completed for Innovative Life Sciences since the company's inception. Colliers Executive Vice President Billy Vahrenkamp and Senior Associate Blaine Shawaker represented the tenant.

Property Specifications and Location

The leased premises at 350 Cypress Hill Drive encompasses approximately 83,838 square feet, including roughly 2,295 square feet of office space, within a Class A industrial building totaling approximately 301,796 square feet. The facility features 32-foot clear heights, ESFR sprinklers, LED lighting, 12 dock-high doors, one ramp door, a 130-foot truck court and 182 parking spaces. The building's rear-load configuration and 50-foot-by-54-foot column spacing are designed to support manufacturing and distribution operations.

The property sits within a 65-acre business park with direct access to U.S. Highway 75, connecting McKinney into Dallas and across major freight corridors throughout the Dallas-Fort Worth region. The lease positions Innovative Life Sciences in roughly one-quarter of the modern Class A building.

Thor Equities acquired 350 Cypress Hill Drive alongside 3601 N. McDonald Street, a 129,914-square-foot warehouse, in August 2021 for $35.7 million, underscoring institutional investor interest in the submarket.

Innovative Life Sciences' North Texas Expansion

Innovative Life Sciences, a gummy and nutraceutical manufacturer, has grown its North Texas industrial presence through three successive transactions with Colliers. The McKinney facility at 350 Cypress Hill Drive serves as a key operational hub for the company, with the premises including nearly 70,000 square feet of manufacturing space and the capacity to support more than 70 new jobs in the first year of operations. The company lists 350 Cypress Hill Drive as its primary address, indicating the building functions as both a manufacturing base and a corporate anchor.

"This lease represents another important milestone in Innovative Life Sciences' growth story," said Vahrenkamp. "Since the company's inception, we've partnered closely with its leadership team to align its real estate strategy with rapid business expansion. Reaching more than 218,000 square feet in just four years is a testament to the company's success and the increasing need for high-quality industrial space that can support life sciences users across North Texas."

DFW Industrial Market Context

The Innovative Life Sciences lease comes as the Dallas-Fort Worth industrial market moves toward more balanced conditions following a period of elevated vacancy. Industrial vacancy across the DFW metro stood at approximately 8.8 percent in the second quarter of 2026, down roughly 70 basis points year-over-year, marking the first sustained period below 10 percent since late 2023. Average asking rents on a direct net basis were approximately $9.34 per square foot annually in the second quarter of 2026, reflecting year-over-year growth in the low single digits.

Market analysts describe current DFW industrial conditions as broadly neutral, with neither landlords nor tenants holding a dominant negotiating position at vacancy levels in the 8-to-10-percent range. For specialized users such as life sciences and nutraceutical manufacturers that require infrastructure-intensive space — including high clear heights, heavy dock packages and robust fire suppression systems — the availability of suitable product remains more constrained than headline vacancy figures suggest.

The ILS transaction reflects broader demand trends for modern industrial facilities capable of supporting manufacturing, distribution and operational growth among life sciences-adjacent occupiers competing for high-quality space across North Texas.

About the Brokers

Billy Vahrenkamp serves as Executive Vice President at Colliers in Dallas. Blaine Shawaker is a Senior Associate in the firm's Dallas office. Both represented Innovative Life Sciences as tenant representatives in the 350 Cypress Hill Drive transaction.

Sources:
Colliers: Innovative Life Sciences Surpasses 218K SF in North Texas