Houston – Transwestern today announces it has been retained to provide leasing services on behalf of The Howard Hughes Corporation® (NYSE: HHC) for its first medical office development. Transwestern Senior Vice President Lisa Bovermann is providing healthcare advisory services for the 67,200-square-foot project within the Creekside Park Village Center at the corner of Strake Drive and Rockwell Park Boulevard in The Woodlands, Texas. Construction is slated to begin at the end of 2018.
“We are extremely excited for the opportunity to work with Howard Hughes as a partner in the healthcare development arena,” said Bovermann. “The Woodlands has experienced a dramatic uptick in medical office demand due to the expansion of two major Houston hospital systems, Houston Methodist The Woodlands Hospital and Texas Children’s Hospital The Woodlands, which is driving increased demand for new physicians to the area. We saw this in the first quarter when absorption levels moved over 100,000 square feet. The Creekside Park project will provide physicians state-of-the-art facilities and an abundance of nearby amenities for staff.”
The Howard Hughes’ medical office development is a two-phase project adjacent to Creekside Park Village Green on the southwest side of The Woodlands master planned community. It consists of two 33,600-square-foot medical office buildings designed in a craftsman-style by PGAL, the architect. The project will be the only medical office property serving the Village of Creekside. The site, within the Creekside Park Village Center, a development of The Howard Hughes Corporation, is anchored by H-E-B and Walgreens and includes retail, restaurants, service providers and multifamily residential.
“We are pleased with our newfound partnership with Transwestern to provide healthcare leasing services in the Village of Creekside Park,” said Rip Reynolds, Vice President, Leasing and Commercial Land for The Howard Hughes Corporation. “It is our vision for Creekside Park Village Center to be all-encompassing, complete with medical offices and shopping, dining, and service experiences, which residents have come to look forward to, all within walking distance to their homes.”
Transwestern’s Houston healthcare team executed transactions totaling more than $253 million and comprising approximately one million square feet in 2017. With this project, the team leases and manages 67 healthcare properties totaling five million square feet on behalf of some of the largest healthcare institutions in the country, including Memorial Hermann, Texas Children’s Hospital, Baylor College of Medicine, University of Texas Health Science Center, HCA, HCP, Tenet Healthcare, Kelsey-Seybold Clinic, and Harris Health.
Transwestern’s national Healthcare Advisory team has grown to become the country’s largest dedicated healthcare real estate advisory team, operating from 19 cities and including more than 130 members. The team provides a full range of services, including leasing, investment, tenant advisory, property management, project management, and construction services for hospitals, healthcare networks, physicians and investors.
About the Howard Hughes Corporation®
The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Its award-winning assets include the country’s preeminent portfolio of master planned communities, as well operating properties and development opportunities including: The Seaport District NYC in New York; Columbia, Maryland; The Woodlands®, The Woodlands Hills, and Bridgeland® in the Greater Houston, Texas area; Summerlin®, Las Vegas; and Ward Village® in Honolulu, Hawai?i. The Howard Hughes Corporation’s portfolio is strategically positioned to meet and accelerate development based on market demand, resulting in one of the strongest real estate platforms in the country. Dedicated to innovative placemaking, the company is recognized for its ongoing commitment to design excellence and to the cultural life of its communities. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC. For additional information visit www.howardhughes.com.
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 211 offices in 36 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern.
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