146,600-SF Contract Leads Off New Focus for PM Realty's Dallas Team

The 80,500-sf Stonebriar Health Center is about 90% pre-leased as it moves toward a June completion. The class A medical office building is situated at 5575 Warren Parkway. LandPlan's 2500 Legacy Drive building is a 66,100-sf class A center that delivered in third quarter 2001. It is about 20% leased, PM Realty's senior vice president Bernard Deaton tells GlobeSt.com. The buildings will hold the typical physicians mix along with a Baylor Healthcare surgical center ticketed for Stonebriar, Deaton says.

The PM Realty team assigned to the property is Rich Elam, senior property manager, for both buildings and Kathy Mulgrew, leasing manager for 2500 Legacy Drive. Deaton finalized the deal for the assignment.

Deaton says the PM Realty Dallas office intends to scout for more medical office assignments, a specialty area evolving rapidly as more hospitals outsource building responsibilities to brokerage houses. The team also handles duties for a small office building owned by Parkland Hospital.

Bill Goeke, PM Realty's senior vice president and director of the central division, agrees with Deaton that the niche product is a good target market. The new deal, he says, affords the team "an additional opportunity for us to expand our focus in the management of medical office buildings in the Dallas-Fort Worth area."

LandPlan's buildings are part of a master-planned, mixed-use development. The medical buildings represent the first of its type for that section of Frisco, according to Deaton.