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Category Archives: Medical

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 »

Houston’s Medical Construction Boom May Be Winding Down

HOUSTON – The healthcare construction boom in Houston’s suburbs is going to slow down somewhat as medical organizations’ building programs have caught up with city’s population expansion. “I think construction is slowing,” says Marshall Heins, chief facilities service officer of Memorial Hermann Health System, which is building or has recently completed a number of major suburban hospitals. “We’re probably going ... Read More »

Healthcare and Real Estate: The Q&A with Coy Davidson of Colliers International

Houston is known for two major industries: energy and healthcare. Energy isn’t as dominant as it once was, particularly with the price of a barrel of oil hitting lows that haven’t been seen for years. Not so for healthcare. Coy Davidson, Senior Vice President, Office & Healthcare Services in the Houston office of international brokerage firm Colliers International says growth ... Read More »

Colliers: $3 Billion in Medical Development Underway in Houston

HOUSTON – Health care construction is surging in Houston. Some $3 billion is being spent to expand and construct hospitals, medical office buildings and specialized medical facilities throughout the Houston area, according to Colliers International. Almost 800,000 square feet of medical space is under construction. “Positive changes in the industry due to the Affordable Care Act, and the continued increase ... Read More »

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