HOUSTON – Stream Realty, in partnership with Wellington Development, will develop a 125,000-SF, five-story medical office building at 1001 Katy Freeway in the Spring Valley Village area.
The building, the second medical development in Houston for Stream, will be connected to a seven-level garage adjacent to Campbell Road.
Kirksey Architecture designed the building, slated to open in spring 2020.
“I’m proud of the significant growth and momentum that Stream’s healthcare platform has developed since its inception just over two years ago. To break ground on our second medical office development within a year of our first, Hedwig Place, is remarkable,” said Richard Barbles, Vice President at Stream.
The project is pre-leasing to medical office tenants and has signage opportunities along the I-10 corridor.
“Our thesis was accurate – off-campus medical office space is compelling to healthcare providers in the market. This is why we are moving swiftly to develop a second building for entrepreneurial physicians to provide superior care to their patients in a convenient, community setting,” Barbles said. “This is a prominent national trend in the healthcare space which has been gaining traction over the past few years. We will continue developing medical office in line with this trend in other markets where we identify the appropriate demand.”
The building will be constructed on a 2.5-acre site. The land purchase was concluded on Oct. 31.