Site Work Begins for $5M Health Center at Lake Ridge Parkway

Meanwhile, Seller Oakmont Capital Group of Dallas is negotiating to sell an abutting 24 acres to another buyer. The Lake Ridge Parkway land is across the road from a developing 500-lot subdivision, close to Interstate 20 and just north of a lakefront resort that's been on the drawing boards nearly two years. "There's been a lot of activity on that property," says Stephen Summers with the Staubach Co.'s Dallas retail group. "Corners with that much growth are bound to attract retailers." Oakmont bought the land a year ago and already has sold four of the six pad sites at Lake Ridge Parkway's junction with Camp Wisdom Road, he adds.

Jason Signor, Cirrus Group's development manager, tells GlobeSt.com that the Health Center at Lake Ridge at 4927 Lake Ridge Parkway will be going vertical in two weeks with Baylor on board with a 10-year lease. The healthcare provider's space will be used for a clinic with 10 primary-care physicians and the building's balance will be leased to non-competing medical practitioners like dentists, optometrists, ophthalmologists or a pharmacy. Cirrus' Kyle Libby is pre-leasing the development.

Signor says Cirrus undertook the project at the behest of Dallas-based Baylor, which wanted to put a medical facility in Grand Prairie for several years. Baylor Irving will be the hospital affiliate.

The project has L&B Realty Advisors Inc. of Dallas as the equity partner. S&B Bank, also in Dallas, is the lender. As with most other Cirrus developments, Hill & Wilkinson Ltd. of Plano is the general contractor for a project designed by Corgan Associates of Fort Worth.