MedCore Partners has brokered the sale of Texas Health Professional Building II to an institutional buyer for an undisclosed purchase price. This state-of-the art, two-story office building, constructed in 2019, consists of approximately 61,088 rentable square feet, sitting on 4.569 acres.
Texas Health Professional Building II serves as the second on-campus medical office building for Texas Health Resources Alliance hospital campus and is heavily occupied by Texas Health Resources physicians and Spine Team Texas.
Texas Health Professional Building II resides on the campus of Texas Health Harris Methodist Hospital Alliance positioned off Interstate 35 and Golden Triangle Boulevard.
In 2019, Texas Health Professional Building II was selected as a top five “National Finalist for Best New Medical Office Buildings and Other Outpatient Facilities 50,000 to 99,999 Square Feet” by Healthcare Real Estate Insights. “Alliance continues to experience extensive growth year over year and so has the demand for class A, multi-tenant medical office buildings,” says Kyle Libby, Partner at MedCore.
MedCore provided highly specialized development services throughout the planning and the construction of the project. Upon the delivery of the facility, their leasing team subsequently negotiated multiple long-term leases with notable healthcare providers in the market, thereby greatly increasing the value of the asset. MedCore was then successful in expeditiously marketing and selling the property, ensuring maximum profitability for the seller.