July 20, 2023
Vitalis advises on Sale of 37,000 SF Value-add Medical-retail building in Houston.
The off-market transaction closed July 20, 2023.
Humble, TX (July 20, 2023) Vitalis advised Woodside Health on the acquisition of a 37,208-square-foot medical-retail building located at 9701 N Sam Houston Parkway in Humble, TX. Woodside purchased the asset for an undisclosed price from a private investor represented by Rycore Capital.
The property is located in Park Lakes Landing shopping center near major retailers and has direct access to Beltway 8 and Sam Houston Tollway. The building is currently 73% occupied and anchored by Texas Children’s Pediatrics, the largest pediatric healthcare network in the country. The balance of the tenancy includes other medical uses, most of which are specifically geared towards children’s health.
“We’re thrilled to further expand our Houston presence with the acquisition of Park Lakes Landing. We were drawn to the investment opportunity based on the attractive area demographics and synergistic healthcare tenancy,” said Ben Barr, Principal of Woodside Health. “We enjoyed working with the Vitalis team as they were instrumental in our acquisition of this asset.”
In 2023 the Vitalis team has closed transaction in Texas, Oklahoma, Florida, and New Jersey. Q3 2023 transaction volume exceeds $47M.
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Media Contact: Abigail Kind, 802.881.9278
About Vitalis:
Elliot LaBreche is the founder of Vitalis, a vertically integrated real estate investment company focused on medical office and life science investment sales, acquisitions, and leasing across the US.
About Woodside:
Headquartered in Cleveland, OH, Woodside Health is a medical office building acquisition and management company. Since 2008, the firm has acquired over $350 million in medical real estate and continues to expand its presence across the United States. The firm’s principals have decades of experience investing in and managing real estate. Woodside Health views their tenants as partners and is committed to building long-term relationships while providing best-in-class property and service. For more information, please visit www.WoodsideHealth.com.
