Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DALLAS-The Cirrus Group is polishing plans for another medical office building in its bid to corner the suburban market and make going to the doctor as easy as a trip to the neighborhood grocery. The Dallas-based firm has acquired an eight-acre parcel in Trophy Club, a Tarrant County community with the same upper-income, fast-growing profile attracting Cirrus projects in other North Texas towns.

A Cirrus insider says plans are still being fine-tuned, but stay tuned because more details will be available by week’s end. For now, the only information comes from Metropolitan Capital Advisors of Dallas, which has arranged a loan of more than $1 million for the land acquisition. The property is located along Texas 114 near the Kirkwood exit. Scott Lynn, Metropolitan principal and director, secured the loan through locally based Park Cities Bank.

Construction is to get under way in mid-July on a 62,400-sf medical office building, the first phase to a campus with a long-range plan for a three day-stay hospital and assisted living facility. The office building will be outfitted with Cirrus’ signature offerings for surgery, imaging, rehab and cancer treatment. Cirrus imaging centers include some $3 million to $6 million of the latest medical equipment designed to put the facilities into the top 3% of its peers nationwide.

In February, Cirrus’ Jason Dodd, director of real estate services, told GlobeSt.com that a rezoning request was pending in Trophy Club. He also said a project would be forthcoming in Coppell. At the time, Cirrus was breaking ground on a 31,700-sf medical office building, in partnership with E.F. Properties of Dallas, in East Frisco. The $6-million project at 4500 Hillcrest Rd. was 70% pre-leased when work began, a strong indicator that Cirrus is on the right profit-making track with the niche development strategy. Cirrus first medical facility in a non-medical environment was the $10-million Park Cities Medical Plaza, which broke ground in mid-2001. The 40,000-sf project went up in the historic Snider Plaza in Dallas’ University Park.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


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 © 2020 ALM Media Properties, LLC. All Rights Reserved.