Transwestern Arranges Sale of Sugar Land MOB

Eric Johnson, Robby Winston, Lisa Bovermann and Brooks Creech of the TCS Healthcare Advisory Services represented the seller of the Class A asset.
Town Center Medical Building

Transwestern Commercial Services has brokered the sale of Town Center Medical, a 29,903-square-foot medical office building in Sugar Land, Texas. Eric Johnson, Robby Winston, Lisa Bovermann and Brooks Creech of the TCS Healthcare Advisory Services represented the seller, Houston ENT and Allergy. The buyer, according to Yardi Matrix data, is Healthcare Realty Trust Inc., which earlier this year added two other medical office buildings in the Washington, D.C., area to its portfolio.

The Class A building is located at 16545 Southwest Freeway, off Interstate 69, and is anchored by Houston ENT and Allergy. The asset is adjacent to Houston Methodist Sugar Land Hospital, a 319-bed general acute care hospital specializing in cardiology, oncology, sport’s medicine and women’s care. According to Yardi Matrix, the building was completed in 2008 and features above standard ceiling height, two elevators and 186 parking spaces.

The project brings the team’s healthcare leasing and management portfolio to 82 properties totaling more than 5.5 million square feet. A recent Transwestern report highlights that rental rates for medical office buildings in Sugar Land are among the highest in the Houston metro area. The submarket is poised for growth as construction activity remains strong. One of the latest medical office buildings to break ground in Sugar Land is the 39,000-square-foot property at 6921 Brisbane Court. 

If you’d like to be featured in Brokers’ Corner, send your deal to deals@cpe-mhn.com.