PM Realty Breaks Ground on $4M MOB Complex

MCKINNEY, TX-PM Realty Group has broken ground on McKinney Medical Plaza, a three-building, 21,617-square-foot medical office complex here. The project, located within a five-mile radius of five hospitals, has a price tag of roughly $4 million.

The project is a joint venture between PM Realty, Dallas-based private equity firm Keystone Investments and Stonebridge Pediatrics, a physician group. The group has signed a long-term to lease to occupy the first medical office building, which totals 10,000 square feet, according to Glen Perkins, executive vice president and managing director of PM Realty’s medical office division. The healthcare provider will move into its new space in June.