{"id":1004648040,"date":"2023-02-28T12:09:00","date_gmt":"2023-02-28T20:09:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004648040"},"modified":"2023-04-19T02:12:28","modified_gmt":"2023-04-19T10:12:28","slug":"caddis-kicks-off-dallas-mob-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/caddis-kicks-off-dallas-mob-project\/","title":{"rendered":"Caddis Kicks Off Dallas MOB Project"},"content":{"rendered":"
\"Groundbreaking<\/a>

Groundbreaking ceremony at Frisco Medical Pavilion II. Image courtesy of Transwestern.<\/p><\/div>\n

Caddis Healthcare Real Estate<\/strong> has broken ground on Frisco Medical Pavilion II, a 60,000-square-foot medical office building in Frisco, Texas. The development is slated for completion in early 2024.<\/p>\n

Novel Builders<\/strong> serves as general contractor, Hart Gaugler + Associates<\/strong> provides civil engineering services and Grace Hebert Curtis Architects<\/strong> is the project\u2019s architect.<\/p>\n

The Dallas-based company first announced the development plans for the Class A structure<\/a> back in March 2022. Transwestern Real Estate Services<\/strong> will handle leasing services for the property.<\/p>\n

\n

READ ALSO:<\/strong> Health-Care Real Estate Deals Hit Record $26B<\/a><\/p>\n

\n

Upon completion, Frisco Medical Pavilion II will feature 20,000-square-foot floorplates, a state-of-the-art lobby, elevator cabs with gurney capacity and space for an ambulatory surgical center on the first floor. Amenities will include a 15,000-square-foot outdoor wellness area, covered patient drop-off and on-site parking. The building is already partially preleased.<\/p>\n

The property is located at 12850 Dallas Parkway, 30 miles from downtown Dallas and has frontage to the Dallas North Tollway. The building will be situated next to Texas Health Frisco, a full-service hospital which opened in December 2019. Other medical facilities in the surrounding area include Solomon Plastic Surgery and Affinity Dermatology, among others.<\/p>\n

Caddis has more than 80 medical office assets totaling 5 million square feet under management, with the combined value of its acquisitions and developments exceeding $1 billion.<\/p>\n

DFW health-care market in need of supply<\/h2>\n

The Dallas-Fort Worth health-care sector encompasses six medical office buildings under construction, with 28 projects in the planned and prospective stages, set to add approximately 5.5 million square feet to the existing inventory, according to CommercialEdge data.<\/p>\n

A fourth-quarter 2022 Transwestern report on the DFW medical office market shows that vacancy reached a multi-year low of 10 percent, a slight decrease compared to the same period last year, when the rate stood at 11.4 percent.<\/p>\n

According to Transwestern, rent growth and low vacancy rates create optimal conditions for medical office development in the structurally under-supplied DFW market. However, despite a robust demand for medical office space, rising interest rates and tightening credit conditions challenge the financing of new developments.<\/p>\n","protected":false},"excerpt":{"rendered":"

Frisco Medical Pavilion II is scheduled for delivery in early 2024.<\/p>\n","protected":false},"author":2829,"featured_media":1004648043,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21782,21754,21742,51973],"tags":[46967,33313],"class_list":["post-1004648040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-development","category-medical-office","category-latest","category-southwest","tag-caddis-healthcare-real-estate","tag-transwestern"],"acf":[],"yoast_head":"\nCaddis Kicks Off Dallas MOB Project - CPE<\/title>\n<meta name=\"description\" content=\"Caddis Healthcare Real Estate broke ground on Frisco Medical Pavilion II, a 60,000-square-foot medical office building in Frisco, Texas.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/caddis-kicks-off-dallas-mob-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Caddis Kicks Off Dallas MOB Project\" \/>\n<meta property=\"og:description\" content=\"Caddis Healthcare Real Estate broke ground on Frisco Medical Pavilion II, a 60,000-square-foot medical office building in Frisco, Texas.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/caddis-kicks-off-dallas-mob-project\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-28T20:09:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-19T10:12:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/S1607932-e1677500938193.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1068\" \/>\n\t<meta property=\"og:image:height\" content=\"801\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Madalina Pojoga\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/caddis-kicks-off-dallas-mob-project\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/caddis-kicks-off-dallas-mob-project\/\",\"name\":\"Caddis Kicks Off Dallas MOB Project - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/caddis-kicks-off-dallas-mob-project\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/caddis-kicks-off-dallas-mob-project\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/S1607932-e1677500938193.jpg\",\"datePublished\":\"2023-02-28T20:09:00+00:00\",\"dateModified\":\"2023-04-19T10:12:28+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7ced0369df035c845a1e5d647c62dd7a\"},\"description\":\"Caddis Healthcare Real Estate broke ground on Frisco Medical Pavilion II, a 60,000-square-foot medical office building in Frisco, Texas.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/caddis-kicks-off-dallas-mob-project\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/caddis-kicks-off-dallas-mob-project\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/caddis-kicks-off-dallas-mob-project\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/S1607932-e1677500938193.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/S1607932-e1677500938193.jpg\",\"width\":1068,\"height\":801,\"caption\":\"Groundbreaking ceremony at Frisco Medical Pavilion II. 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