Bellaire Medical Plaza, a 58,517-square-foot medical office building near the Texas Medical Center in Houston, recently sold to an affiliate of Rycore Capital. The price was undisclosed.
Bellaire Medical Plaza is located at 5420 Dashwood Dr. within a designated Opportunity Zone and a thriving medical office market. The property is positioned five miles from the Texas Medical Center campus, which is considered the largest medical complex in the world with more than 50 million square feet of healthcare space and 106,000 employees.
The 88 percent-leased property is home to a mix of medical tenants with specialties in primary care, dialysis, pain management, ophthalmology, audiology and laboratory services. In addition, the three-story facility offers a walk-in health clinic and pharmacy. The property also includes a 3.67-acre parcel allowing for future development.
JLL represented the seller Ridgeline Capital Partners and procured the buyer. In addition, JLL worked on behalf of Rycore Capital to secure the acquisition loan. The JLL team representing the seller was led by Kevin McConn and Brian Bacharach.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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