(JULY 13, 2017 – HOUSTON) – Transwestern today announces that Museum Medical Tower is undergoing a $10 million renovation. The 177,476-square-foot medical office tower is on the north side of the Texas Medical Center at 1213 Hermann Drive.
HCP Inc., the building owner, engaged Cassetty Architecture out of Hendersonville, Tennessee, to create a design that provides a fresh look while respecting the unique museum district charm and style. Scott & Reid General Contractors, headquartered out of Dallas has been selected as the general contractor. Vice Presidents Ashley Cassel and Justin Brasell in Transwestern’s Healthcare Advisory Services group provide leasing services on behalf of HCP.
Exterior renovations will include a new French-inspired façade and main entrance, a live green wall feature, new landscaping, sidewalks, and parking garage updates. The building interior will receive completely new lobby finishes, as well as upgrades to the corridors, elevator lobbies and restrooms. System upgrades include new chillers, cooling tower, boilers, state of the art energy management and fire alarm systems, and a new roof. Additionally, three move-in ready medical suites ranging from 1,700 to 2,244 square feet are planned, scheduled for completion in fall 2017.
“HCP’s redevelopment investment and the announcement of HCA’s acquisition of the adjacent Park Plaza Hospital will help position this asset as one of the Texas Medical Center’s most desirable medical office building locations,” said Cassel. “The building will have a completely different look and feel and will provide a modern yet welcoming environment for increased patient satisfaction and employee retention.”
In addition to the upgrades at the building itself, Museum Medical Tower is located in a desirable area of Houston with respect to amenities and attractions. The Museum Medical Tower is rated a 74, or “very walkable,” according to walkscore.com, demonstrated by the proximity to Hermann Park, Hotel ZaZa, Miller Outdoor Theater and the Houston Museum of Natural Science. The property is also conveniently located on the METROrail.
HCP owns more than 2.5 million square feet of medical office space in the Houston area.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Houston office, follow @TranswesternHOU.
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