Press Release
FOR IMMEDIATE RELEASE
The campus is home to 11 tenants and is anchored by Catalent
Houston – March 29, 2022 – CBRE has announced the sale of the Webster Medical Office & Life Science Campus, a two-building, fully leased, medical office complex in Webster, TX. The property was sold by a joint venture between Virtus Real Estate Capital and Lincoln Property Company. The buyer and terms of the deal were not disclosed.
Lee Asher, Chris Bodnar, Jordan Selbiger, Ryan Lindsley, Sabrina Solomiany and Zack Holderman with CBRE U.S. Healthcare and Life Sciences Capital Markets along with Brandy Bellow Spinks of CBRE Houston Healthcare & Life Sciences represented the seller.
“We were able to leverage the increased appetite for life sciences and the stability of medical office in a transaction that is located across the street from a major medical center and had about 50/50 life sciences to medical office tenancy,” said Lee Asher, Vice Chairman at CBRE.
Built between 2006 and 2008, the Webster Medical Office & Life Science Campus includes two buildings totaling 94,506 sq. ft. located at 251-253 Medical Center Blvd. in Webster, TX. The portfolio is 100 percent leased to 11 tenants, offering a diverse mix of clinical specialties and an overall weighted average remaining lease term of nearly eight years. The campus is anchored by Catalent (NYSE: CTLT), a biomedical conglomerate whose space within building 253 includes a state-of-the-art 32,000-square-foot cell therapy laboratory. Other notable tenants include Centre for Neuro Skills (CNS), Texas Skin Center, Texas ENT, Arthritis Relief Centers, and ProActive Physical Therapy Centers.
The campus sits adjacent to the 595-bed HCA Houston Healthcare Clear Lake hospital, which includes the newly constructed $120 million, 305,000-sq.-ft. Heart and Vascular Hospital. The portfolio is located within the “Medical Center of the South”, a healthcare corridor comprised of over 1.7 million sq. ft. of healthcare real estate and 990 inpatient beds across three acute-care hospitals, three inpatient rehabilitation facilities (IRF) and two long-term, acute-care hospitals (LTACH).
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
Contact:
Ryan Salchert
+1 919 607 0132
Ryan.salchert@cbre.com
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