FOR IMMEDIATE RELEASE
Property at 1401 Philomena St., adjacent to Dell Children’s Medical Center, has 129,382 square feet of rentable office space
LOS ANGELES – May 28, 2024 – Stockdale Capital Partners (“Stockdale”), a Los Angeles-based, vertically-integrated real estate investment firm, announced it acquired a newly-built medical office building at 1401 Philomena St. in Central Austin, which first opened in 2023.
The best-in-class, LEED Gold-rated medical office property is part of Mueller Austin, a 700-acre master-planned community. 1401 Philomena St. includes 129,382 square feet of rental office space, as well as an attached 559-stall parking garage which maximizes accessibility and patient flow. The property is the first non-affiliated, purpose-built Class-A medical office building constructed in Central Austin since 2013. With a population of 2.4 million people, the Austin metropolitan area is one of the fastest-growing urban centers in the country.
With wider column spacing and higher deck-to-deck heights, the building’s construction allows it to accommodate users ranging from smaller spaces of 2,000-3,000 square feet to entire floors up to 28,000 square feet with the ability to accommodate higher acuity services throughout.
“Stockdale is excited about the acquisition of this Class-A medical office building strategically located near the Dell Children’s Medical Center in the Mueller development. This is an incredible opportunity to enter the Austin medical office market with strong fundamentals in an under-supplied marketplace” said Andrew Saba, Managing Director, Healthcare at Stockdale Capital Partners. “We continue to look for attractive medical office investment opportunities across the country as demand for outpatient healthcare increases.”
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About Stockdale Capital Partners
Stockdale Capital Partners is a vertically-integrated real estate investment firm with a 30-year history of investing in commercial real estate across multiple asset classes throughout the Western U.S. The company is an owner-operator specializing in the redevelopment and repositioning of real estate assets with expertise in revitalizing urban properties of all types. The firm currently manages approximately $2.8 billion in gross AUM on behalf of several discretionary, commingled closed-end and open-ended funds. For more information, please visit our website at www.stockdalecapital.com.
Contact: David Gershwin
david@davidgershwin.com
323.791.2319
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