"This is a landmark deal for Midtown," says Phillip Thompson, asenior vice president with CB Richard Ellis Inc./Trione &Gordon who represented the building owner, Houston CommunityCollege System, along with senior vice president Jay Bonano. "Mostof the major colleges and medical organizations have chosen to staywithin the general vicinity of the Medical District and St. Luke'sis one of the first major hospitals to move to out to Midtown."

The hospital system is looking to move into the 531,000-sfbuilding by the end of the year. It will consolidate administrativeoffices from several locations in the Medical District to threefloors in 3100 Main, now 100% leased, Thompson says.

According to Thompson, Midtown is a logical progression for theTexas Medical Center's hospitals and ancillary businesses. "Midtownand the Medical District are connected by rail with St. Joseph's onone end and Texas Medical Center on the other," he points out."Midtown is the new playground."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.