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7/07/17
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SG Property Service has acquired MacArthur Medical Plaza, a 41.6k sf medical office asset in Irving, TX, for $9.2 mil ($221/sf), via an affiliated entity. The purchase represents 67% of a condominium association.
The 12-acre property is situated at 3501 N. MacArthur Blvd in Irving, a fast-growing area just northwest of Dallas. The property is located one mile from Baylor Health Center and just south of Las Colinas with proximity to Four Seasons Resort, shops, and restaurants.
The acquisition marks Atlanta-based SGPS’ first acquisition in Texas, kicking off its plans to expand into Dallas and other Texas markets. According to Paul Shailendra, president of SG Property Services, the property was attractive due to its mix of institutional and specialty medical practices committed to the project on long term leases.
Lee Asher of CBRE represented the seller, MacArthur OB/GYN, in the transaction.
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