35 Percent Preleased Development Slated for Completion in First-Quarter 2015
(JULY 15, 2014 – HOUSTON) – Transwestern’s Houston headquarters today announces it has been awarded the leasing assignment by HCP Inc. [NYSE: HCP] for a 100,000-square-foot, medical office development on the Memorial Hermann Pearland Medical Center campus. Construction began on June 30, 2014 on the Class A building at the corner of Memorial Hermann Drive and Highway 288 in Pearland, Texas. This will be the second medical office building owned by HCP on this Memorial Hermann campus, which includes a Convenient Care Center and a 64-bed hospital development scheduled to break ground in July.
“Memorial Hermann is extremely proud to open its new hospital, Convenient Care Center and medical office building in the dynamic Pearland market and serve the healthcare needs of this community,” said Marshall Heins, chief facility services officer at Memorial Hermann Health System.
Scheduled for completion in first quarter 2015, the medical office building is currently 35 percent preleased to Memorial Hermann for outpatient programs, with 65,000 square feet of space remaining for prelease to physician groups.
Transwestern’s healthcare advisory services Associate Brokers Ashley Cassel, Brandy Bellow Spinks and Scott Carter will be the team leasing the professional office building on behalf of HCP.
“We are extremely pleased to work on this Class A medical office development”, said Cassel. “Our existing Memorial Hermann – Pearland property is 100 percent leased, and this new development will continue to attract top-level physicians to the area, a testament to the tremendous amount of activity and heightened growth in the Pearland market.”
About Memorial Hermann Health System
An integrated health system, Memorial Hermann is known for world-class clinical expertise, patient-centered care, leading edge technology, and innovation. The system, with its exceptional medical staff and more than 20,000 employees, serves to advance health in Southeast Texas and the Greater Houston community. Memorial Hermann’s 12 hospitals include three hospitals in the Texas Medical Center, including the Texas Trauma Institute – a level I trauma center which houses the Life Flight® air ambulance – a hospital for children and a rehabilitation hospital, eight suburban hospitals, and a second rehabilitation hospital in Katy. The system also operates three Heart & Vascular Institutes, the Mischer Neuroscience Institute, three Ironman Sports Medicine Institute locations, cancer centers, imaging and surgery centers, sports medicine and rehabilitation centers, outpatient laboratories, a chemical dependency treatment center, a home health agency, a retirement community and a nursing home. As an Accountable Care Organization, the system also offers employers health solutions and health benefit plans through its wholly owned Memorial Hermann Health Insurance Company.
About Transwestern
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 181 offices in 40 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit transwestern.com and follow us on Twitter: @Transwestern and @TranswesternHOU.
About HCP
HCP Inc. is a fully integrated real estate investment trust (REIT) that invests primarily in real estate serving the healthcare industry in the United States. HCP’s portfolio of assets is diversified among five distinct sectors: senior housing, post-acute/skilled nursing, life science, medical office and hospital. A publicly traded company since 1985, HCP: (i) was the first healthcare REIT selected to the S&P 500 index; (ii) has increased its dividend per share for 29 consecutive years; (iii) is the only REIT included in the S&P 500 Dividend Aristocrats index; and (iv) is a global leader in sustainability as a member of the CDP, Dow Jones and FTSE4Good sustainability leadership indices, and the Global and North American healthcare sector leader for GRESB. For more information regarding HCP, visit the Company’s website at www.hcpi.com.
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