The expansion at the Tuscan Professional Building will provide imaging, orthopedic and other specialty services.
LAS COLINAS, TX—PMRG developed the Tuscan Professional Building located at 701 Tuscan Dr. in 2004 as a build-to-suit project for a group of private physician owners. PMRG has recently executed a six suite 18,481-rentable-square-foot lease expansion there with UT Southwestern Medical Center on behalf of Tuscan Medical Properties LLC.
The expansion will bring the two-story 53,000-square-foot class-A medical office building's occupancy to 100%. PMRG continues to provide both management and leasing services for the building's current ownership.
“Tuscan Professional Building, in the heart of Las Colinas' Medical Hub, is within ½ mile of the Las Colinas Medical Center and just 5 miles from the Baylor, Scott & White Medical Center, Irving which is a 296-bed premier medical facility accredited by The Joint Commission,” Pam Perkins, vice president and director of PMRG's Healthcare Group, tells GlobeSt.com. “Being in such close proximity to these medical facilities, which have served the surrounding communities for more than 50 years, Tuscan Professional Building is ideally located for healthcare providers' outpatient practices. Las Colinas additionally offers physicians, staff and patients alike the convenience of being an upscale, business-centric community within minutes of Dallas, Fort Worth and DFW Airport, while providing numerous housing, entertainment and cultural opportunities nearby.”
Stephen Lawson, UTSW's director of real estate services, represented the tenant in the negotiations and Perkins represented the landlord in the transaction.
“UTSW is a valued tenant at Tuscan Professional Building and we are pleased the medical center has chosen to grow within this quality asset,” said Perkins. “UT Southwestern, along with the other highly respected tenants within the property, will all benefit from the synergy this expansion will create. This provides a fantastic platform for UT Southwestern to deliver high quality medical services for the Irving/Las Colinas community in a professional, efficient and collaborative environment. This transaction will allow them to expand their existing ob/gyn services, as well as offer new imaging, orthopedic and other specialty services,” said Perkins.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
