Frisco Medical Pavilion II Receiving Interest from Healthcare Users Across Specialties
(FEB. 23, 2023 – DALLAS) – Caddis Partners® hosted a groundbreaking to commemorate Frisco Medical Pavilion II. Shovels hit the ground Friday, February 10 in a celebration attended by Caddis executives and other project stakeholders. The new medical office building provides an opportunity to create personalized patient care in the fast-growing vibrant community of Frisco.
The project will be a 60,000-square-foot medical office building in the highly visible location of 12850 Dallas Parkway. It has an estimated delivery of early 2024 and is experiencing a surge in healthcare demand from users across specialties. The medical pavilion is just north of Texas Health Frisco, a full-service hospital which opened in December of 2019.
“We are very excited about the prospects for our newest MOB development and the ability to provide another patient-friendly option to the community members of Frisco,” said Lance M. Hardenburg, Managing Partner & CEO of Caddis.
Once complete, Frisco Medical Pavilion II will be a Class A medical office building featuring a state-of-the-art lobby, elevator cabs with gurney capacity, 20,000-square-foot floor plates and the capability for an ambulatory surgical center on the first floor. Exterior features will include an approximately 15,000-square-foot outdoor wellness area, exterior building signage opportunities along the Dallas North Tollway, covered patient drop-off and on-site parking with a 5-to-1,000 ratio. The property is being well received by local medical businesses and several suites have already been secured.
Located in one of the highest-income cities in North Texas as well as one of the fastest-growing cities in the U.S., the property features more than 250 retail and dining options within a three-mile radius. Transwestern Real Estate Services (TRS) handles leasing for the project.
“We are pleased with the quick preleasing activity at Frisco Medical Pavilion II, especially given the ongoing changes in the market,” said Brooke Sutherland, Senior Associate at Transwestern. “Transwestern is excited to be a part of this development, and we look forward to what this property will bring to the Frisco community.”
The general contractor for the project is Richardson, Texas-based Novel Builders, the architect is Dallas-based Grace Hebert Curtis Architects and civil engineering services is provided by Hart Gaugler + Associates.
According to Transwestern research, medical office buildings in the Legacy and Frisco market command the highest rents in Dallas with proximity to a largely affluent population and a strong white-collar employment base. Over the last 10 years, hospital systems such as Texas Health, Baylor Scott & White, Medical City, UT Southwestern and Cook Children’s have invested more than $1 billion to serve the area’s rapidly growing population. Just recently, Universal Studios also announced plans to open a theme park in proximity to the building, which would bring visitors from all over the world to Frisco.
Images of the groundbreaking ceremony can be downloaded for publication here.
Caddis® is a physician-founded, national real estate firm focused exclusively on healthcare real estate. Caddis offers a full range of real estate investment services including acquisition, development and property management. The firm is comprised of a talented team of healthcare real estate professionals across a wide variety of disciplines. Caddis has developed or acquired nearly 5 million square feet of medical assets valued in excess of $1 billion and is consistently recognized as a top healthcare developer by Modern Healthcare. Caddis has offices in Dallas, Atlanta, Phoenix, Houston and Washington, DC. For more information about Caddis, please visit www.caddis.com.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management, and opportunistic programs for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
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Stacey J. Robinson, PMP
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