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Medical Office Continues to Catch Investors' Eyes

LA GRANGE, TX—With an aging population and ever-increasing demand for healthcare facilities, St. Mark's is a valuable asset to both Rainier's real estate portfolio and the greater central Texas community.

By Lisa Brown | Updated on October 25, 2016
MOB 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.

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