KATY, Texas – Katy Med-Arts Partners Ltd. has sold the Katy Medical Arts building in Katy, west of Houston.
Gino Lollio and Scott Niedergang of Cushman & Wakefield’s Healthcare Capital Markets team facilitated the sale of the 61,000-SF building, which is fully leased.
Katy Internal Medicine and Katy Cardiology Associates are the largest tenants in the building, occupying 18 percent and 10 percent of the space. The abundance of private-practice tenants (not employed by a health system) allows for future credit enhancement, should they be acquired. Occupants with a national presence include LabCorp, US Oncology, and Quest Diagnostic
The seller of the building, Katy Med-Arts Partners Ltd., was a partnership of more than 20 physicians associated with practices occupying the building. The buyer is a private equity-backed healthcare real estate investor.
The building is occupied by a range of healthcare tenants that provide primary care, ophthalmology, cardiology, podiatry, lab, endovascular surgery, mammography, hand and general surgery, nephrology, oncology, imaging, dermatology, and gastroenterology services.
In the last 36 months, Lollio and Niedergang have handled the sale of eight medical buildings in the Houston area with a total of $116 million in value.