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NexCore Group Breaks Ground On Dallas-Area Medical Office Building

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NexCore Group, on behalf of Hunt County Regional Hospital, has broken ground on the Hunt Regional Healthcare Medical Office Building, a 70,000-square-foot facility in Royse City, Texas.

The development team includes Hill & Wilkinson General Contractors and architecture firm Page Southerland Page. Delivery is expected in the fall of 2024.

In April, the City awarded a $925,000 cash incentive to NexCore Group for the development of the property. The project involves a $20 million capital investment.

Upon completion, the property will be home to an emergency facility, as well as to specialty practices including women’s care and orthopedics. Medical services provided will include diagnostic imaging, laboratory services and primary care.

The health-care facility is taking shape at the intersection of Interstate 30 and Shaw Road, some 30 miles from downtown Dallas. Other medical providers in the surrounding area include Royse City Dental Care, Royse City Emergency Hospital, Texas Health Family Care and Hunt Regional Family Medicine, among others.

NexCore Group currently has four other projects, located in Indiana, Colorado, Nevada and Arizona, in its development pipeline. The medical office buildings have a completion date set for the last quarters of 2023 and 2024.

Another medical office building broke ground near Dallas earlier this year. Caddis Healthcare Real Estate kicked off the construction of a 60,000-square-foot facility in Frisco, Texas.

 

Source: Commercial Property Executive

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$24M Medical Office Building To Be Part Of ‘The Mix’ In Frisco, Texas

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A New York developer is slated to start work soon on a five-story medical office building in The Mix in Frisco.

The Dallas Business Journal reports that the $24.4 million medical office building, with 116,580 square feet of space, will be constructed at the corner of Lebanon Road and Parkwood Boulevard. A public filing indicates the project will also have a $14.4 million, 193,677-square-foot, seven-tier parking structure with 556 parking spaces included.

JVP Management of New York is listed as the owner and CallisonRTKL Inc. of Dallas is the listed design firm. The construction start date is June 1 and completion is scheduled for summer of 2024.

The site is across the tollway from some of Frisco’s biggest mixed-use developments, including The Star — home of the Dallas Cowboys — as well as Frisco Station and The Gate. The plan for The Mix calls for 3 million square feet of housing, 2 million square feet of office space, 375,000 square feet of retail and two hotels.

 

Source: ConnectCRE

Willow Park Endoscopy Center and Clinic, Willow Park TX

Montecito Medical Acquires New Medical Office Building In Dallas-Fort Worth Area

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Montecito Medical, a leading acquirer of medical office properties nationwide, has completed the acquisition of a medical office property in the Dallas-Fort Worth Metroplex.

The new, 12,144 square-foot building, tenanted by Willow Park Endoscopy Center and Clinic, is located in Willow Park, a growing community on the west side of Fort Worth.

“We are delighted to acquire yet another brand-new medical office asset in the DFW Metroplex, adding to the number of properties in the Metroplex that are part of our portfolio,” said Bryan Brown, Senior Vice President of Acquisitions at Montecito Medical.

Kyle A. Libby of MedCore Partners represented the seller in the transaction.

Willow Park Endoscopy Center and Clinic is a joint venture between GI Alliance, SCA Health, and Texas Health Resources.

GI Alliance is the largest, physician-led gastroenterologist group in the United States. Texas Health Resources is one of the largest faith-based, nonprofit health systems in the United States and the largest in North Texas in terms of inpatients and outpatients served. SCA Health is a specialty care company providing a wide range of care to patients in centers nationwide.

In the past two years, Montecito has acquired more than 15 medical office properties across the Dallas-Fort Worth Metroplex.

“We are thrilled for the opportunity to build on the relationships we have established with GI Alliance and Texas Health Resources as we actively expand our large and growing footprint across the DFW area,” said Chip Conk, CEO of Montecito Medical.

 

Source: HREI