Construction will begin in September, with the building coming on line in fourth quarter 2009. Grand Parkway Medical Office Center will be positioned on five acres along Grand Parkway, between Morton Road and Longmeadow Farms. The parcel is still under contract with Equicap Grand Parkway Ltd. of Houston. The closing is to take place in early September. Houston-based Page Realty Partners Ltd. is representing the seller.
Molly McShane, development manager, says the team is working with a core group of physicians on the building's design and uses. "We have a good mix of modalities in the building. We have a surgery component, imaging, orthopedics and family practice," she says.
Grand Parkway Medical Office Center is about seven miles from OakBend Medical Center's campus at US Hwy. 59 and Williams Way, also in Fort Bend County. The MOB component will measure about 60,000 sf, with its construction tentatively slated to start in the fourth quarter.
McShane tells GlobeSt.com that it's the right time to be developing medical office product due to Fort Bend County's explosive residential growth. She says that Grand Parkway Medical Office Center is situated in an area that also has a retail focus. "That area has so many rooftops. And, we really believe the medical and retail will complement each other very well out there," she adds.
The Houston office of Cadence McShane Corp. will provide design/build services for the project. Marasco & Associates Inc. in Denver is doing the conceptual design and overall space planning while Seeberger + Associates LP of Houston is the architect of record. The quoted lease rates will range from $21 per sf to $23 per sf, triple net.
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