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Category Archives: Medical

Southeast Houston Medical Building Sold

HOUSTON – Colliers International reported the sale of a 12,300 square foot medical office building located at 150 FM 1959 in southeast Houston. Beth Young and Marshall Clinkscales of Colliers International represented the seller in the transaction, WHGS Holdings Co. LLC dba Coastal Surgical Group. The purchaser was represented by Cameron Crouch of Gulf Coast Properties. The property was built ... Read More »

ObamaCare and $3 Billion in Construction: Q&A with Matt Gilbert of Transwestern Houston

  HOUSTON – During this turbulent political season, the Affordable Care Act (ACA), also known as ObamaCare, has been in the spotlight. So what does this mean for Houston, which boasts the world’s largest medical center. To find out, Realty News Report spoke with industry expert Matt Gilbert, who joined Transwestern’s Houston Healthcare Advisory Team as vice president in October. ... Read More »

Two Texas Medical Center Buildings (673,000 SF) Sold to Texas Children’s Hospital

HOUSTON – Texas Children’s Hospital has acquired two major properties in the Texas Medical Center – including a 27-story tower developed by Hines – from Baylor St. Luke’s Medical Center. The two buildings – with a combined 673,000 SF – are the purchase of the Baylor Clinic Building located at 6620 Main St. and the O’Quinn Medical Tower at 6624 ... Read More »

CBRE: 42 Percent Job Growth Creates Demand for Medical Office Space in Houston

HOUSTON – More than 600,000 SF of medical office space will be completed and delivered in the Houston area over the next year, as developers respond to growing medical employment growth, according to CBRE. CBRE Research in Houston has initiated analysis of Medical Office Buildings. Healthcare employment in the Houston area has grown by 42 percent over the last decade, ... Read More »

Colliers Assists Woodside in its Medical Office Acquisition Quest

MISSOURI CITY, Texas – Rotunda Medical Properties, LP, an entity of Woodside Health/Crescendo Commercial Realty, made its first purchase in the fast-growing Sugar Land submarket of Houston Texas according to their broker Beth Young, senior vice president of Colliers International’s Houston office. Woodside has other properties under contract and is looking to acquire more, said Ted Barr, principal of the ... Read More »

Round Rock Medical Facility Sold for $115 Million

ROUND ROCK, Texas – St. David’s HealthCare purchased the 146,997-SF Forest Park Medical Center hospital, along with a 79,708-SF medical office building and 508-space parking garage, for $115 million. FPMC Austin Realty Partners built the facility in 2015 on 8.5 acres in the fast-growing Austin suburb of Round Rock. Scott Herbold, with CBRE Capital Markets’ Investment Properties – Texas Healthcare, ... Read More »

The Medical Construction Boom: The Q&A with Arch-Con’s Evan Alford

HOUSTON – With more than $3 billion in construction projects under way, Houston’s Texas Medical Center is the largest life sciences destination in the world. But that’s not all. Construction of medical facilities in Houston is booming, with medical office buildings being built around town as well as expansion of Memorial Hermann, Houston Methodist and Baylor College of Medicine in the ... Read More »

Medical Construction Surges in Houston Suburbs

HOUSTON – Significant population growth and home building in Houston suburbs have fueled a surge in construction of medical facilities in outlying areas, according to a report by CBRE Research. “As landlocked hospitals in the Texas Medical Center continue to expand in an effort to serve a geographically multiplying metro region, all of the major hospital systems are targeting the ... Read More »

USAA and HSA Prime Care Launch Medical Properties Effort

SAN ANTONIO – San Antonio-based USAA Real Estate Company (USAA RealCo) has joined with HSA PrimeCare, located in Chicago, to acquire and develop outpatient healthcare real estate properties across 11 Midwestern states. The firms also announced their first acquisition, a 97,375-square-foot register of medical office assets in northwest Indiana and in Tinley Park, Ill., a suburb southwest of Chicago. The ... Read More »

Dray Group Developing Medical Building in The Heights

HOUSTON – A medical office building will be built in Houston’s Heights – one of the first medical building constructed in years in the Heights, which is located Houston’s Inner Loop, according to Transwestern. Transwestern’s Houston has been retained by local developer 927 Stude LLC to provide leasing services for Heights Central, a proposed 15,000-square-foot medical office building, to be ... Read More »

REIT Buys Medical Buildings in Katy for $40.4 Million

KATY, Texas – Physicians Realty Trust, a Milwaukee-based REIT, has acquired a medical office building adjacent to a Memorial Hermann facility in Katy for $40.4 million. Marcus & Millichap arranged the sale of the 108,066-square-foot, two-building, medical office portfolio anchored by a Memorial Hermann Rehabilitation Hospital and Ambulatory Surgery Center. Scott Niedergang and Gino Lollio, vice presidents investments and directors ... Read More »

A Profitable Prescription: Spec Medical Office Buildings

KATY, Texas – The practice of building speculative medical office buildings — without tenants signed up in advance — was put on hold during the recession when both developers and lenders were looking to cut their risks. But developers in certain markets around the nation  — Houston included — are breaking ground on new projects without having tenants lined up to ... Read More »

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