X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
healthcare expansion With the expansion, the campus will grow to 3.84 million square feet when complete in 2019.

HOUSTON—LaSalle Investment Management‘s recent acquisition of Memorial Hermann Medical Plaza-Texas Medical Center at $405 million was the largest price ever paid in the U.S. for that type of building. While this indicates that healthcare properties continue to be in high demand, this isn’t just any healthcare property. Its location at the largest medical complex is significant.

“6400 Fannin has been on everyone’s radar with its irreplaceable real estate and an iconic part of the TMC skyline,” Brandy Bellow Spinks, CBRE first vice president, tells GlobeSt.com. “Very few properties trade hands in the Texas Medical Center and at over 500,000 square feet, it’s a monumental property.  While there is little vacancy in the building, the change of ownership will have an impact on the market and continue to push rental rates upward.”

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?

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

More from this author

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 © 2021 ALM Media Properties, LLC. All Rights Reserved.