By Anca Gagiuc, Associate Editor
The medical office building at 5109 Medical Drive has been acquired by the national real estate development and investment firm Stream Realty Partners. The address is on the campus of Christus Santa Rosa Medical Center in the South Texas Medical Center. Details about the transaction have not been made public.
The four-story, Class A office property encompasses 80,000 square feet, situated on 3.43 acres in the Northwest submarket. This area in particular experienced a prosperous 2013, showing a net absorption of 86,381 square feet in the fourth quarter alone, according to a CBRE report.
Lately, physicians’ interest in areas that are more convenient to patients has attracted them to retail and office assets. “Stream Realty purchased 5109 Medical Drive because of its central location within the South Texas Medical Center and opportunity to accommodate a variety of users,” said Carolyn Hinchey Shaw, vice president with Stream, in a news release.
Leasing will be handled by Shaw and Jason Schnittger, a senior vice president in Stream’s San Antonio office, and the company will also provide property management services. “Since it is the only property in South Texas Medical Center of this size and quality, we anticipate finding users quickly.” Schnittger noted.
Photo courtesy of Stream Realty.