New Office Building On The Way Near Dallas’ Booming Medical District

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An office project in the works on West Mockingbird Lane will add to the development wave just west of Dallas Love Field.

Developer Cawley Partners plans to build the 150,000-square-foot office building at 2221 W. Mockingbird Lane near Harry Hines Boulevard.The building is in the same area where developers have constructed the West Love mixed-use hotel, apartment and retail complex. It’s near Dallas’ booming medical district.

“We were working on another building in this area but decided to move on this one first,” said developer Bill Cawley. “I have capital investors interested in doing it after we move through the rest of this year.”

Construction on the four-story building would begin early next year.

“I believe this area has so much potential for companies looking to grow in Dallas,” Cawley said. “You are right next to Love Field. It’s easily accessible from Interstate 35E and the Dallas North Tollway. I think we’re going to see this become a more desirable corporate location with new companies looking to move in.”

Dallas architect Corgan designed the office project, which will include food service facilities, a fitness center and a conference center.

Cawley Partners is planning the northwest Dallas building just as it breaks ground for another office in Plano. Cawley Partners is developing that building in partnership with Plano’s pioneer Haggard family for First United Bank’s mortgage company.

The 120,000-square-foot Parkwood building is being constructed on the east side of Dallas North Tollway at Parkwood Boulevard and Windhaven Parkway.

 

Source: The Dallas Morning News

Five Hospitals Buying Land For Expansions

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Below are five hospitals or health systems that purchased or announced plans to buy land for expansions in the last three months.

1. HCA buys land, plans freestanding ED
Nashville, Tenn.-based HCA Healthcare has purchased a plot of land in Tennessee to build a freestanding emergency department.

4. Ascension St. Vincent’s buys 33 acres for Florida hospital
Jacksonville, Fla.-based Ascension St. Vincent’s purchased a parcel of land in Florida’s St. Johns County for nearly $18 million.

5. Encompass Health buys land for rehab hospital in Florida
Birmingham, Ala.-based Encompass Health bought a plot of land in St. Augustine, Fla., to build a new hospital, the company said July 10.

2. South Carolina hospital buys land for expansion
The board of Orangeburg, S.C.-based Regional Medical Center agreed to buy a 6.5-acre plot of land for an expansion.

3. University Health System to buy land in San Antonio for new hospital
San Antonio-based University Health System plans to buy an 80-acre parcel of land to build a second hospital.

Source: Becker’s Hospital Review

Medical Office Buildings Have Remained Strong Through It All

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As was predicted, albeit with some caution, medical office buildings (MOBs) have held up very well from as an investment and property type since the onset of the COVID-19 pandemic.

This statement comes not just from an anecdotal point of view, but from one of statistics and data.

During the Healthcare Virtual Conference 2020 sponsored and webcast Sept. 24 by Seattle-based Colliers International, Mike Hargrave, principal with healthcare real estate (HRE) research and data firm Revista, provided the most recent data concerning the health of the MOB product type. Mr. Hargrave provided the virtual audience with a lot to chew on during the “Revista Lunch and Learn” presentation.

 

Source: HREI