Healthpeak Properties, Inc. has begun development of a new, 116,500-square-foot medical office development at 7500 Fannin Street in Houston. Construction began in late May, and the building is slated for delivery in December 2021.
The building is on the campus of The Woman’s Hospital of Texas, less than a mile south of the Texas Medical Center. 7500 Fannin is currently 36 percent pre-leased with the largest commitment from Houston Women’s Care Associates, a 14-provider practice that is expanding its current on-campus footprint.
“This project has been on deck at The Woman’s Hospital of Texas campus for many years, and it’s exciting to be a part of this HCA Houston Healthcare campus expansion,” said Tom Hulme, vice president of development and leasing for Healthpeak. “This will give the campus’ larger practice groups some much-needed room for expansion, as well as allow new providers to join alongside the region’s leading hospital serving Houston’s women and pediatric population.”
The development consists of a five-story, Class A medical office building and is being constructed along with a new parking garage. 7500 Fannin will be front and center on the campus and is a part of a larger master-planned expansion that includes a new, redesigned hospital entrance that will provide access points from Old Spanish Trail and Fannin Street. The expanded clinic space, the addition of a new parking garage and the modified campus infrastructure will give patients and visitors better circulation and ease of access at the campus.
Transwestern, which has been engaged to provide leasing services for 7500 Fannin, is a long-time healthcare real estate services provider for Healthpeak and currently leases 34 of its assets in Texas and Colorado. This includes 7400 Fannin, which is adjacent to the new development and is currently 94 percent occupied.