Leben Holdings Acquires San Antonio-Area MOB

1763 Medical Way. Image courtesy of Transwestern

APZ Investments has sold a single-story, medical office building totaling 8,055 square feet in New Braunfels, Texas. Transwestern Real Estate Services represented the seller in the transaction with Leben Holdings.

The Class B, multi-tenant building came online in 2019. At the time of the transaction, the asset was 67 percent leased. The new owner is set to move its private dermatology business into the remaining space, bringing the building to full occupancy.

Located at 1763 Medical Way, on approximately 2 acres, the property is just off Highway 46. Downtown New Braunfels is within 2 miles of the asset.

Transwestern’s team included Vice President Licia Shreves and Associate James Murry. This month, another team of the company represented the owner in a 102,500-square-foot lease deal at Westchase Park II, a 300,000-square-foot office property in Houston.

According to Transwestern, the New Braunfels medical office submarket vacancy rate sits at 34 percent, compared to the five-year average of 33. Over the last 27 months, the MOB market in the area has seen more than 169,000 square feet of completions.