Project Includes 73,000 SF of Medical Office Space and 52,000 SF of Retail Space with Multiple Highway Pad Sites
(MAY 30, 2013 – HOUSTON) – Transwestern’s Houston headquarters today announced it has been awarded the leasing assignment for a 125,000-square-foot mixed-use development. The project includes River Pointe Medical Plaza, a 73,000-square-foot, Class A medical office campus, as well as a separate 52,000-square-foot retail development, which includes a 12,000-square-foot shopping center and multiple highway pad sites. The development is located on the northwest corner of Highway 59 and the Grand Parkway. River Pointe is being developed by Wellington Development and designed by Kirksey Architecture.
“We are pleased to be developing a site with such great access to major hospitals, regional retail and population growth,” said Chris Hotze with Wellington Development Company.
Tim Gregory, senior vice president of healthcare advisory services, will lease the medical office property on behalf of Wellington. Phase I, a 45,000-square-foot, three-story building scheduled for delivery in the third quarter of 2014, is currently being pre-leased. Phase II, a 28,000-square-foot, two-story building, will commence construction upon the completion of Phase I.
“We are extremely excited to be a part of this tremendous development,” said Gregory. “Fort Bend has consistently been in the top growth counties in the United States over the last ten years, which has created significant opportunities for new medical development due to the lack of Class A medical office space. River Pointe Medical Plaza will be one of the best strategically located medical office buildings in Fort Bend County.”
Tony Armstrong and Craig Varney, vice presidents of retail services at Transwestern, will lease the retail property, scheduled for completion in 2014.
“Over the past few months, our team has implemented several marketing efforts, and we could not be happier with the responses we are receiving from prospects,” said Armstrong. “We are thrilled with the recently announced news that the Texas Department of Transportation will be extending the Highway 59 access road alongside the property. This will allow the addition of a key curb cut into the property directly from Highway 59, making an already fantastic site even better.”
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, development, research and sustainability. The fully integrated enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. Transwestern facilitates better decision-making for clients by combining penetrating local market intelligence and macro-market research through its affiliate, Delta Associates. Transwestern has 33 U.S. offices and assists clients through more than 180 offices in 36 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate.
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