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10 Texas Medical Office Building Updates From The First Half Of 2023

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The market for medical office buildings has been booming this year, as investors and real estate managers have touted their stability and upside potential.

Here are 10 Texas medical office building updates from 2023:

  1. A 40,000-square-foot building in Stafford, Texas, that sits on 3.4 acres was sold.
  2.  Ground was broken on a 60,000-square-foot office, the Frisco Medical Pavillion II, set to open in 2024.
  3. A 31,247-square-foot medical office building in Plano, Texas, anchored by Dallas Neurological and Spine, was acquired by Montecito Medical.
  4. Wolf Capital Partners acquired the newly rebranded HeightsMED building, launching renovations that are expected to be complete in mid-2023.
  5. Big Sky Medical acquired a 110,465-square-foot medical office building with rentable space in El Paso, Texas.
  6. The Memorial Hermann Medical Plaza in Houston was awarded an Energy Star certification by the U.S. Environmental Protection Agency.
  7. Remedy Medical Properties and Medical Facilities Holdings completed a 59,741-square-foot medical office building in San Antonio, Texas, that is anchored by a Physician Surgical Network Affiliates ASC.
  8. An 82,328-square-foot Methodist Southlake (Texas) medical office building outside of Fort Worth, Texas, attached to a Methodist hospital sold.
  9. The 61,660-square-foot medical office building the Medical Center of Tomball (Texas) has been purchased for $24.6 million.
  10. Two Texas residents are in custody for burning down a three-story medical office building under construction in Spring, Texas.

 

Source: Becker’s ASC Review

New Medical Office Building Is On The Way In Frisco

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Dallas-based medical property firm Caddis Partners is building an office building in Frisco.

The 60,000-square-foot Frisco Medical Pavilion II will be located at 12950 Dallas Parkway near Texas Health Frisco hospital. Construction is set to start midyear with an opening in the summer of 2023. Transwestern Real Estate Services is marketing the project to medical tenants.

“Building on the success of our Frisco Medical Pavilion development, which broke ground in 2018 and is now 100% leased, we are excited to begin the development of Frisco Medical Pavilion II in the fast-growing Frisco, Texas, market,” Caddis’ W. Todd Jensen said in a statement.

The medical office building will include space for a potential ambulatory surgical center on the first floor.

“Built with both the physician and patient in mind, Frisco Medical Pavilion II is an excellent opportunity for specialty medical practices seeking Class A space in one of the fastest-growing submarkets in the United States,” Transwestern’s Brooke Sutherland said.

Caddis oversees a portfolio of more than 70 properties across 16 states with almost 5 million square feet. Caddis has offices in Dallas, Atlanta, Phoenix, Houston and Washington, D.C.

 

Source: The Dallas Morning News