Leased by Transwestern, the Site is Expected to Deliver by Summer 2023
March 15, 2022
DALLAS – Dallas-based Caddis®, a top national healthcare real estate investment firm, announces plans to develop Frisco Medical Pavilion II, a 60,000-square-foot medical office building at 12950 Dallas Parkway in Frisco, Texas, immediately north of the new Texas Health Frisco hospital. Transwestern Real Estate Services (TRS) has been tapped to provide Agency Leasing services for the development. Construction is expected to begin in mid-2022 with an estimated completion by summer 2023.
“Building on the success of our Frisco Medical Pavilion development, which broke ground in 2018 and is now 100% leased, we are excited to begin the development of Frisco Medical Pavilion II in the fast-growing Frisco, Texas market,” said W. Todd Jensen, Executive Vice President, Investments for Caddis.
Upon completion, Frisco Medical Pavilion II will be a Class A medical office building featuring a state-of-the-art lobby, elevator cabs with gurney capacity, 20,000-square-foot floor plates and the capability for an ambulatory surgical center on the first floor. Exterior features will include an approximately 15,000-square-foot outdoor wellness area, exterior building signage opportunities for full-floor tenants, covered patient drop off and on-site parking with ratio of 5/1,000. The site features unmatched visibility opportunities along the Dallas North Tollway.
“Transwestern is thrilled with what this property will bring to the Frisco community,” said Brooke Sutherland, Associate at Transwestern. “Built with both the physician and patient in mind, Frisco Medical Pavilion II is an excellent opportunity for specialty medical practices seeking Class A space in one of the fastest-growing submarkets in the United States.”
Centralized in one of the highest-income cities in North Texas, the property features more than 253 retail and dining options within a three-mile radius and has proximity to several large hospital systems such as Texas Health Resources, Medical City Healthcare, Scottish Rite for Children, Children’s Health and Baylor Scott & White Health.
Caddis offers a full range of healthcare real estate investment services and manages a portfolio of more than 70 properties across 16 states, comprising nearly 5 million square feet and valued at more than $1 billion.
According to Transwestern research, increased penetration of the already prevalent ‘flight to quality’ trend has intensified demand for quality space, and well-positioned properties are likely to capture a greater share of market activity and outperform in 2022 and beyond.
Rendering available here.
Caddis® is a physician-founded, national real estate firm focused exclusively on healthcare real estate. Caddis offers a full range of real estate investment services including acquisition, development and property management. The firm is comprised of a talented team of healthcare real estate professionals across a wide variety of disciplines. Caddis has developed or acquired nearly 5 million square feet of medical assets valued in excess of $1 billion and is consistently recognized as a top healthcare developer by Modern Healthcare. Caddis has offices in Dallas, Atlanta, Phoenix, Houston and Washington, DC. For more information about Caddis, please visit www.caddis.com.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.