THE WOODLANDS – (Realty News Report) – Howard Hughes Corp. has announced plans to develop its first medical office project in The Woodlands.
Transwestern will provide leasing services for the 67,200-SF project, to be located in the Creekside Park Village Center at the corner of Strake Drive and Rockwell Park Boulevard in The Woodlands. Construction is slated to begin at the end of 2018.
“The Woodlands has experienced a dramatic uptick in medical office demand due to the expansion of two major Houston hospital systems, Houston Methodist The Woodlands Hospital and Texas Children’s Hospital The Woodlands, which is driving increased demand for new physicians to the area,” said Transwestern Senior Vice President Lisa Bovermann. “We saw this in the first quarter when absorption levels moved over 100,000 SF. The Creekside Park project will provide physicians state-of-the-art facilities and an abundance of nearby amenities for staff.”
The Howard Hughes’ medical office development is a two-phase project adjacent to Creekside Park Village Green on the southwest side of The Woodlands, a 28,000-acre master planned community north of Houston. It consists of two 33,600-SF medical office buildings designed in a craftsman-style by PGAL, the architect.
Transwestern’s Houston healthcare team executed transactions totaling more than $253 million and comprising 1 million SF in 2017. With this project, the team leases and manages 67 healthcare properties totaling 5 million SF on behalf of some of the largest healthcare institutions in the country, including Memorial Hermann, Texas Children’s Hospital, Baylor College of Medicine, University of Texas Health Science Center, HCA, HCP, Tenet Healthcare, Kelsey-Seybold Clinic, and Harris Health.
Transwestern’s national Healthcare Advisory team has grown to become the country’s largest dedicated healthcare real estate advisory team, operating from 19 cities and including more than 130 members. The team provides a full range of services, including leasing, investment, tenant advisory, property management, project management, and construction services for hospitals, healthcare networks, physicians and investors.
Transwestern recently announced Justin Brasell has been appointed Executive Vice President to lead the company’s growing Healthcare Advisory Services team in Houston. Working alongside National Healthcare Director Eric Johnson, Brasell will support business development efforts, direct local initiatives, coordinate client pursuits, and identify and implement new technologies to support owner and occupier clients of healthcare real estate.
Brasell was recently named a top producer of the firm, completing over $76 million in transactions in 2017.
“We are proud of the tremendous success our Houston healthcare team has experienced thus far and look forward to the many extraordinary things to come both in our market and across the country,” said Kevin Roberts, Transwestern’s Southwest President. “Our Houston healthcare experts will continue to act as a think tank for our national platform and serve our clients with innovative solutions that are unmatched in the industry.”
July 10, 2018 Realty News Report Copyright 2018