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 Forest Park Medical Center at I-10 and 1604 Forest Park, a former boutique hospital at the crossing of Interstate 10 and Loop 1604, closed its doors in October 2015 and has sat vacant after going through foreclosure. Methodist Healthcare System of San Antonio, which operates more than a dozen facilities in the area, has bought the 155,000-square-foot facility. Vice president of communications and community affairs Palmira Arellano said, …Read Entire Post  Site of new 60,000 sq. ft. professional office building at Singing Hills REOC Development recently celebrated the groundbreaking of the Singing Hills Professional Building – a 60,000 square-foot, three-story office building located at US 281 & Harmony Hills. Designed by Luna Middleman Architects and constructed by Middleman Construction Company, site work is well under way with delivery scheduled for next fall. The building will be anchored by an Ambulatory Surgical Center (ASC) on the first floor and the goal is to secure an imaging center for the remainder of the first floor space. Lease commitments are approaching 65% of the building but there are still leasing and tenant-equity opportunities available; however, as the only Class “A” office building in the Bulverde/Spring Branch community, the remaining space is not expected to remain unclaimed for long. …Read Entire Post  Westover Hills Medical Plaza II The Westover Hills Medical Plaza, located along the Hwy. 151 corridor, includes three medical offices, is among the properties within a 1.4 million-sf portfolio purchased by an affiliate of global real estate investment firm Heitman LLC. The three medical offices make up just over 200,000 sf in the larger portfolio, which includes 17 buildings in seven states. …Read Entire Post The Sam and Ann Barshop Institute for Longevity and Aging Studies now resides at UT Health’s 186-acre Texas Research Park Campus on the far West Side. University officials said the new location across from the Greehey Academic and Research Campus will centralize operations and permit more collaboration between the institute and San Antonio’s medical community. …Read Entire Post  Source: REOC San Antonio The mid-year check up of the San Antonio medical office market remained steady and positive. The survey of more than 7.2 million square feet of separately tracked medical-only office space revealed that the citywide vacancy rate remained relatively unchanged at 20.0% compared to 20.1% at mid-year 2016 as new inventory offset positive absorption. …Read Entire Post A partnership between Artemis Real Estate Partners, Ackerman & Co. and MLL Capital purchased a four-building medical office portfolio totaling 423,411 square feet, according to a press release. Two of the downtown San Antonio buildings, the Santa Rosa Professional Pavilion — which is 128,578 square feet — and the 123,324 square foot Rosa Verde Tower, are on the CHRISTUS Children’s Hospital of San Antonio campus. The campus recently underwent a $135 million renovation and expansion. …Read Entire Post The finishing touches are being put on Seven Oaks Professional Office Park, a new 32,500 square-foot Class A office project in Boerne. The complex has been advertised to companies looking for professional office and medical space. So far, the property already has a few tenants signed up, including a chiropractic firm, a dentist office, a swimming school, a day care facility and a surgery center. …Read Entire Post Velocis, a Dallas-based private equity real estate manager, has purchased a 224,262 square foot medical office complex adjacent to the South Texas Medical Center. The seven-building Class A complex Legacy Oaks recently underwent extensive capital improvements. It is currently 75 percent leased by a mix of health care providers. Tenants include Baptist Health System, MEDNAX, BB&T, and the Center for Healthcare Services. …Read Entire Post According to a press release, the new development is a two story, 24,050 square-foot site will be on North Loop 1604 W. at Collins Circle. The new space will focus on leasing to medical retailers like spas, chiropractors, dentist offices and wellness centers as well as other retail tenants. The focus on medical retail represents a bigger shift in general retail according to Raub, which is shifting from people buying goods at traditional retail stores to more people buying services instead. …Read Entire Post
Even as the healthcare business model continues to undergo significant change, fundamental factors, such as population growth and an aging population, continue to drive demand for medical office space. The citywide vacancy dipped to 20.0% compared to 20.5% last quarter. …Read Entire Post |
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Conditions improved in the San Antonio medical office market in the first quarter evidenced by a slight decrease in the citywide vacancy rate within the city’s inventory of more than 7.2 million square feet of medical-only office lease space.