HOUSTON--Chicago-based Stage Equity Partners LLC has announced the recent acquisition of a 24,075-square-foot multi-tenant medical office building anchored by Texas Children's Hospital in Houston.

According to Stage principal Russell Brenner, the single-story class A building was acquired in an off-market transaction from a local investment group.

The property, located at 5650 East Sam Houston Parkway (Beltway 8) in east Houston, is 100 percent leased by seven complementary medical practices. They include anchor tenant Texas Children's Pediatrics (Texas Children's Hospital), Bayshore Medical Center (HCA), Houston Eye Associates and Diagnostic Radiology of Texas. The property is within 20 minutes of Texas Children's Hospital's main campus.

“The location is ideal,” says Stage principal Brian Howard. “It is situated in a densely populated, well-insured area just east of downtown Houston, and it serves as the primary pediatric practice for the community. It's a great addition to our portfolio.”

Brenner concurs.

“Healthcare tenants are increasingly selecting single-story medical office buildings in retail settings, as they generally offer better patient convenience, access and way-finding, accessible parking and lower overall operating expenses due to such as factors as lack of elevators and interior common areas,” he says.

Texas Children's Pediatrics is one of the nation's largest general pediatric practices, with 50 locations. It is a wholly owned subsidiary of Texas Children's Hospital, the top-rated pediatric hospital in Texas and one of the top children's hospitals in the U.S.

Reps with Stage were unable to offer more details by press time.