Building is scheduled to start in December 2022.
Prescriptive Capital, along with health-care builders Saber Road and CBK Pursuits, plans to develop a three-story, 45,000-square-foot medical workplace constructing in The Woodlands’ village of Creekside Park, Texas. Arch-Con Company will function common contractor for the venture. Groundbreaking is scheduled for December 2022.
The 4.7-acre growth website is positioned on Kuykendahl Street, near the Indian Springs neighborhood and south of Carlton Woods at Creekside, one of many distinguished residential communities in The Woodlands. A big doctor apply group has pre-leased 80 p.c of the property.
Saber Road’s Co-Founder & Managing Accomplice Chris Haley mentioned, in ready remarks, the health-care sector is underserved in Creekside Park. In response to CommercialEdge information, there at present is just one medical workplace constructing beneath development within the village, a 33,745-square-foot venture taking form at 26424 Strake Drive.
The identical information supplier reveals The Woodlands’ medical workplace stock encompasses practically 1.1 million sq. ft throughout 15 properties. The latest medical workplace constructing, a 209,906-square-foot property owned by Texas Youngsters’s Hospital, got here on-line in 2017.
Whereas the U.S. medical workplace sector continues to point out resilience within the face of financial uncertainty, medical workplace developments are nonetheless tormented by excessive development materials costs and provide chain points. Medical workplace development is predicted to up the tempo together with the remainder of the true property market when fundamentals return to regular.
