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MISSOURI CITY, TX- SDI Realty Inc. has bought 20 acres containing the Memorial Hermann Healthcare-Fort Bend Campus. The local buyer plans to raze the 39,121-sf medical office building and 64,273-sf hospital and replace then with a Lowe’s Home Improvement store and additional retail.

There is no set groundbreaking date on the land, which was listed for $13.7 million. But, Keith Lloyd, senior vice president with Grubb & Ellis Co.’s Houston office, tells GlobeSt.com that SDI has permit approvals in hand from the city and construction at 3803-07 FM 1092 could happen in the near future. Lloyd and Grubb & Ellis vice president Sam Sheff represented Houston-based Memorial Hermann Healthcare System along with the provider’s D. Kirk Guilanshah, system executive of real estate.

Lloyd says both buildings were built in the early 1980s vintage and had been vacant for some time following the healthcare system’s relocation to a campus at US Hwy. 59 and Grand Parkway. “We marketed it as a former hospital and professional office building, but had certain restrictions,” he explains. “We couldn’t sell it to certain people, such as another hospital, for example.”

Lloyd says potential medical property buyers did eye the property’s acquisition potential. He says SDI ultimately came up with the highest offer and best deal.

“This is the last, good, hard corner in that area,” Lloyd says, adding Lowe’s has been pushing to enter the southwest Houston suburb for awhile. “It’s the last corner of Main and Main and an incredible amount of retail development has been going on in the area.”

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