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May 24, 2018
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Major Development Opportunity in Dallas / Ft. Worth Hits the Market


Here’s news of a unique development opportunity that’s come on the market in the Dallas/Ft. Worth area. Parkland Health & Hospital System has listed its former Parkland Memorial Hospital campus, comprised of five adjacent sites totaling 38.3 acres with a high-profile location at Harry Hines Blvd and Medical District Dr, one block east of Stemmons Freeway (I-35E). An asking price was not given out.

Given the area’s transformational, ongoing development cycle recently exceeding $3 bil of new medical facilities, the former Parkland Memorial Hospital campus represents a significant redevelopment opportunity in Dallas/Fort Worth—the nation’s top market for growth. CBRE Capital Markets has been selected to market the asset on behalf of the seller.

"The former Parkland Memorial Hospital campus presents a generational opportunity to acquire a substantial stake in the ongoing renaissance of Dallas’ premier emerging marketplace and at the heart of the city’s most important concentration of the medical services community,” said John Alvarado, senior vice president, CBRE.

Positioned at the heart of the premier Dallas Medical District, the property is situated among the new Parkland Memorial Hospital and campuses for UT Southwestern Medical Center and Children’s Medical Center Dallas. Collectively, the Medical District employs more than 30,000 people and is visited by more than 3 million patients annually. The property carries an existing zoning designation of Mixed-Use District 3, which allows for substantial flexibility and the highest density classification outside of the Central Business District. The property also offers mass-transit access with TRE and DART rail stations within walking distance.

In addition to Alvarado, David Glasscock, Gary Carr, Eric Mackey, and Robert Hill with CBRE Capital Markets’ Office Investment Properties team, along with Kevin O’Neil and Doug Gordon of CBRE’s Healthcare Services team, are representing the seller.

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