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ROCKWALL, TX-To keep pace with demand, PM Realty Group is going to go vertical next week on 91,000 sf of medical office space, pushing out two phases instead of one, as planned.

“We’ve just had tremendous success,” Glen Perkins, executive vice president and managing director of development services for the Houston-based PM Realty, says about Rockwall Medical Center, a 6.5-acre project rising at 1003 W. Ralph Hall Parkway. The 63,000-sf office building, representing the tallest structure in the suburb, is 95% preleased, according to Perkins, who had some carryover deals that drove the decision to forge ahead on a 28,000-sf second phase. The lead tenants are Lakepoint Diagnostics Inc., 10,000 sf; Family Healthcare Associates Inc., 10,000 sf; and Dr. Les Sandknop, 16,000 sf.

“I’ve got to believe we’ll be substantially leased by the time we open the doors,” Perkins tells GlobeSt.com. He says he’s holding “five or six” letters of intent for space with a $23.80 per sf to $24.80 per sf, plus electric, rate on a 10-year lease. A January 2006 delivery is planned.

The medical project is being done in partnership with Quorum Equities Group LLC of Dallas as part of its 40-acre Horizon Ridge Park. “What started out to be a pure business park has turned into a medical park,” Perkins says.

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