The 100% leased St. Mark's MOB is located between Austin and Houston.
LA GRANGE, TX—Built in 2006, St. Mark's medical office building on St. Mark's Medical Center campus is a 31,200-square-foot single-story building on 3.15 acres that is 100% leased. The medical center is a 65-bed 100,000-square-foot hospital providing advanced healthcare close to home for patients in the central Texas communities of Fayette and Lee Counties, as well as the surrounding areas. The comprehensive health services, advanced technologies and medical specialists at St. Mark's rival those of major metropolitan institutions.
Rainier Realty Investments LP recently closed on the acquisition of the building, which is located between two major metropolitan cities, Austin and Houston. Nestled in what is the start of the Texas Hill Country, La Grange is strategically located on the banks of the Colorado River at the intersection of US Highway 77 and State Highway 71. These two highways provide ready access to Houston, Austin, San Antonio and Waco. The property has a covered walkway to the adjacent St. Mark's Medical Center, a designated Level IV Trauma Center.
“St. Mark's Medical Center is an important provider of quality healthcare to central Texas communities. The medical office building is a significant addition to Rainier's medical portfolio and we are pleased to partner with a vital community provider,” says Rainier president Tim Nichols.
Rainier Realty Investments is an affiliate of The Rainier Companies of Dallas. Founded in 2003, Rainier has more than $1.7 billion of investment assets under management for individual, corporate and institutional investment partners.
“According to the most recent census, the Austin-Round Rock metro area in central Texas had the fastest growing 'pre-senior' population (age 55 to 64) in the nation and ranked second in senior (age 65-plus) population growth,” Nichols tells GlobeSt.com. “With an aging population and ever-increasing demand for healthcare facilities, St. Mark's is a tremendous asset to both Rainier's real estate portfolio and the greater central Texas community.”
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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.
