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November 29, 2022
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Texas Medical Office Property Trades


A four-building medical office park in Spring, TX was purchased by a private investor out of Houston. The property, located at 4701 Farm to Market 2920 (yes, that is the address), east of Rhodes Rd, was sold by a Texas-based developer. The price was not disclosed.

The complex was built in 2015 and 2016 and is situated on 1.9 acres in a northern suburb of Houston. Combined, the properties total 20.2k sf of space. All tenants operate on triple net leases. At the time of sale, the complex was 83% leased.

Evan Altemus of Stan Johnson Company represented the seller in the deal.

“Investment demand for Houston multi-tenant properties continues to be high with both Texas-based investors and also national investors due to the continued population and business growth,” said Altemus. “Competitive offers were received from both in-state and out-of-state investors, and this asset was unique because of its high-quality construction and ability for an owner to easily divide each building into a variety of different floorplans.”

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