Caddis to Break Ground on Dallas MOB

Frisco Medical Pavilion II. Rendering courtesy of Transwestern Real Estate Services

Caddis Healthcare Real Estate has announced plans to develop Frisco Medical Pavilion II, a 60,000-square-foot medical office building in Frisco, Texas. The Dallas-based company expects to break ground on the project mid-2022 and wrap up construction by the following summer.

Caddis selected Transwestern Real Estate Services to market the upcoming Class A structure. Construction on the initial phase of the development—which is currently fully leased—began in 2018.

Frisco Medical Pavilion II will take shape at 12950 Dallas Parkway and is set to feature a lobby, elevators with room for gurneys, as well as 20,000-square-foot floorplates. The medical office building will also include space for an ambulatory surgical center on the first floor, outdoor wellness areas totaling 15,000 square feet, patient drop off sections and a parking ratio of 5 spaces per 1,000 square feet.

Frisco Medical Pavilion II will rise just north of Texas Health Frisco. Downtown Dallas will be 30 miles south, while downtown Fort Worth will be 50 miles away.

DFW’s medical office landscape

According to a recent Transwestern report, the medical office sector remains an appealing investment option throughout the metro. The market’s growing population is feeding demand for outpatient facilities.

The Dallas-Fort Worth metro closed 2021 with an average medical office vacancy of 12.9 percent, representing a 130-basis-point drop year-over-year, according to the same source. Continued demand is reflected in the region’s 1.3 million square feet of positive net absorption throughout last year.

In terms of construction activity, developers across the Metroplex delivered 857,000 square feet of medical office facilities in 2021. Another 452,755 square feet were under construction at the end of the year.