SUGAR LAND, TX-Norvin Partners Ltd. stepped up its ownership status in the area with its acquisition of the 117,000-square-foot Memorial Hermann Sugar Land Health Center I and II. The New York City buyer paid $15 million to Houston-based Memorial Hermann Health System for the two-building complex.

Norvin will upgrade the buildings at 1111-1211 State Highway 6. Among the list of “to-dos” are landscaping, wayfinding and outdoor signage. Eric Johnson, managing director, health care advisory services with Transwestern’s Houston office, says a name change is also in the works.

Johnson, who represented Norvin in the buy and who has the leasing and management assignment, says the new owner is still working out a budget and renovation targets. “We’re looking to partner with an architect, who’ll go in there and make suggestions, then we’ll have an idea of what needs to be done and a budget,” Johnson explains. “Norvin feels like there’s a big splash that can be made in that area.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.