HOUSTON—With healthcare as a focus, a portfolio is seeking new ownership. The Pin Oak portfolio located at the intersection of the West Loop and Bellaire Boulevard has the medical tenant appeal, but also visibility and proximity to tenant conveniences. The buildings were completed in the late 1970s and 1980s, and are located at 6700, 6750 and 6800 West Loop South, and 4710 and 4747 Bellaire Blvd.

The portfolio was recently brought to market by JLL on behalf of Investcorp and Griffin Partners. The offering represents an opportunity to own an office park along 610 West Loop in Houston that features a majority of medical office tenants.

The five-building 505,000-square-foot office complex is 93% leased and 58% occupied by medical tenants. The significant healthcare tenant base has helped keep the property's occupancy rate stable despite softness in the Houston office market. Healthcare providers have been attracted to the property as a lower-cost alternative to space closer to the Texas Medical Center. JLL's Capital Markets team is listing the property.

“This property has been recognized by many healthcare providers and health systems as an excellent location for satellite and branch offices, located just a few miles from the Texas Medical Center and near major population centers,” JLL senior vice president Kevin McConn tells GlobeSt.com. “As a result, the percentage of space occupied by medical tenants has doubled over the last 10 years, contributing to the strong stable performance of this portfolio.”

Within the portfolio, the Offices at Pin Oak Park is a five-building office campus in a park-like setting among 100-year-old oak trees. Some of the many amenities include 24-hour security, after-hours card key access, free visitor parking in elevator-equipped garages, on-site banks and delicatessens, USPS and overnight shipping dropboxes, maid and porter service, and fully staffed on-site engineering and management teams. Move-in ready suites are available. This building was awarded an Energy Star label from 2007 to 2011 and 2013 for its operating efficiency. The three-story building at 4710 Bellaire Blvd. also features an impressive atrium.

6700, 6750 and 6800 West Loop South have all undergone interior renovations, with some exterior work included as well. There are move-in ready suites available, free visitor parking, signage opportunities, on-site property management and building engineers, 24-hour security service, on-site amenities including delicatessens, banking with lobby and drive-through service, and car wash/detailing in a park-like setting surrounded with 100-year old oak trees. The buildings are in close proximity to shopping, dining, hotel and entertainment amenities, with access off of the 610 Loop in close proximity to the Texas Medical Center, Galleria, Greenway Plaza and downtown. All buildings were awarded the Energy Star from 2008 to 2014.

Instant Insights /

Despite Softness, Medical Base Remains Stable

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