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$2M Medical Office Expansion Planned

WEBSTER, TX-The Watershed, a Florida-based drug rehabilitation provider, has come to terms with a new owner to get another 9,000 sf added onto an 8,400-sf medical office building, sweetening the $1.5-million plan with a 10-year lease extension.

By Jennifer Brenner Andrade | Updated on December 29, 2003

WEBSTER, TX-A 10-year lease extension will jumpstart a 9,000-sf addition to an 8,400-sf medical office building that’s fully leased to a drug rehabilitation provider. The $1.5-million expansion will begin in the first quarter.

The Boca Raton, FL-based Watershed reworked its five-year lease after spending about a year at 20 Professional Park Dr. in Webster near Clear Lake and quickly realizing the need for more room. Coy Davidson in the Houston office of Colliers International tells GlobeSt.com that the building was sold earlier this year for $3 million to a Boca Raton-based private investor. He and Colliers’ David Butler brokered both sides of the new lease.

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