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News Release: Colliers closes sale of 52,000-square-foot medical office building in Fort Bend County

Colliers International represented Rotunda Medical Properties, LP in the acquisition of the Rotunda Building

August, 16, 2016, Houston –¬†Ohio-based Rotunda Medical Properties, LP, an entity of Woodside Health/Crescendo Commercial Realty, made its first purchase in the fast-growing Sugar Land submarket of Houston Texas according to their broker Beth Young, senior vice president of Colliers International’s Houston office.

The Rotunda Building is a three-story, 52,000-square-foot medical office/office building located at 5819 Highway 6, Missouri City, Texas, adjacent to the award-winning Riverstone master-planned community. The building is anchored by a large Capital One branch and is occupied by multiple healthcare tenants including Texas Children’s Pediatric Associates and Fort Bend Pediatric Dentistry.

The seller was represented by Barkley Peschel and Kolbe Curtice in the Fort Bend office of Colliers International. “The building was a unique investment opportunity due to its strategic location between First Colony, Riverstone and Sienna Plantation,” said Barkley. “It’s the only multi-story office building in the area; there isn’t another building like Rotunda until you reach Highway 59 in Sugar Land”.

“The combination of a very visible location at a major intersection in a booming southwest Houston submarket plus long-term and expanding tenants makes this landmark building a great addition to Woodside’s Houston portfolio of medical office properties.” states Beth Young.

The Cleveland-based medical office building acquisition and management firm has medical and health-related properties in Arizona, Florida, Michigan, North Carolina, Ohio and Texas. Ted Barr, principal, said, “This is our fifth acquisition in the Houston market and 21st health-related property. We see the opportunity to take a quality building with a solid rent roll, and with a little extra TLC, upgrade the appearance of the property and increase occupancy.” Woodside has other properties under contract and is looking to acquire more.

For more information on Woodside Health/Crescendo Commercial Realty, visit cc-realty.com.

About Colliers International Group

Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 11 consecutive years, more than any other real estate services firm.

For the latest news from Colliers, visit Colliers.com or follow us on Twitter (@Colliers) and LinkedIn.

Contact Information

Beth Young, Senior Vice President
Houston, Colliers International
Tel: 713 830 2166
Email: beth.young@colliers.com

Barkley Peschel, Senior Vice President
Fort Bend, Colliers International
Tel: 281 242 2300
Email: barkley.peschel@colliers.com

Kolbe Curtice, Managing Director
Fort Bend, Colliers International
Tel: 281 269 3441
Email: kolbe.curtice@colliers.com

www.colliers.com/texas

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