SMBC Leasing and Finance Inc. has purchased a fully occupied medical office building in Southwest Houston. Colliers Senior Vice President & Head of the Young Healthcare Team, Beth Young, negotiated the deal on behalf of the seller, SWD Property Development.
Fresenius Medical Care has been the property’s sole tenant since 2004. Located at 8303 Creekbend Drive, the 11,250-square-foot dialysis center dates back to 2004, Harris County public records show.
Situated on a 1.4-acre lot in Brays Oaks neighborhood and in proximity to Interstate 69, the site is 10.8 miles from Sugar Land, Texas, and 15.6 miles from downtown Houston.
The Greater Houston area boasts 43.4 million square feet of medical office space, with a current occupancy rate of 87.9 percent, according to Colliers. The under-construction pipeline will add an additional 2.3 million square feet to the stock.
National medical office sales volume totaled more than $2.9 billion in the second quarter of 2022, representing a 10.4 percent decrease compared to the same period of 2021, according to a report by Brown Gibbons Lang & Co. While transaction volume declined, the average price per square foot rose to $356, marking a 20 percent year-over-year increase.