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Category Archives: Medical

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 »

Tampa Firm Buys New Rehab Hospital in Clear Lake Area of Houston

WEBSTER, Texas — Tampa-based  Carter Validus Mission Critical REIT II  has acquired the Post Acute Webster Rehabilitation Hospital, on the southeast side of Houston, from Medistar Corp. The two-story Webster Rehabilitation Hospital is a newly built, 45-bed inpatient rehabilitation facility with  53,513 square feet. Providing physical, psychological, social and vocational rehabilitation services for patients, hospital is 100% leased to Clear Lake Institute for ... Read More »

Transwestern Leasing New Medical Office Under Construction

HOUSTON – Transwestern has been awarded the leasing assignment by Horizon Development for a new 38,600-square-foot medical office development located at 7619 Branford Place in Sugar Land, on the southwest side of the Houston area. Construction on the Class A building is scheduled to begin by mid-March and should be completed in the fourth quarter of 2015. Strategically located in ... Read More »

Houston Medical Office Market Gains Occupancy in 2014

HOUSTON – Houston’s medical office market demonstrated strength in 2014, according to a medical office report by Colliers International. The citywide average vacancy rate was 11 percent at year-end 2014, down from 12 percent at the end of 2013, Colliers said. “Disciplined medical office development activity has helped prevent major upheavals in current vacancy levels,” the report said. Sublease space ... Read More »

Mischer Developing Medical Office on Houston’s NW Side

HOUSTON – Mischer Investments, LP will develop for Cypress Creek Lakes, a 29,000-square-foot medical and office development in Cypress, just northwest of Houston. Construction will commence at 19414 Cypress N. Houston Road when the project is 50% preleased. Transwestern Medical Leasing Associate Ashley Cassel will lease the property on behalf of the developer and owner, Mischer Investments of Houston. “We ... Read More »

Memorial Hermann Spending $533 Million to Build 1 Million SF in Houston’s Texas Medical Center

HOUSTON — Memorial Hermann Healthcare System is launching a $533 million expansion that will add a major hospital tower and 160 additional hospital beds to its facility in the Texas Medical Center campus in the Inner Loop of Houston. The master plan project includes construction of the Hermann Pavilion 2, a 17-story hospital that will provide the Texas Medical Center ... Read More »

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