HSMB ARRANGES LAND PURCHASE FOR MEDICAL OFFICE DEVELOPMENT

MURPHY, TEXAS — Dallas-based Henry S. Miller Brokerage (HSMB) has arranged the purchase of an approximately 2-acre land parcel located at 615 FM 544 in Murphy. The site had originally been zoned for residential use, but it was recently rezoned for office/retail development. The buyers, Dr. Deepika Minnal and Dr. Ramarao Lankipalli, plan to initially construct a 5,000 to 6,000-square-foot medical office building on the property. Later construction will include three to four additional buildings ranging in size from 5,000 to 10,000 square feet. A pediatric practice and a cardiology practice plan to lease space in the first building once construction is complete. HSMB’s Matt Anding represented the buyers. The seller, Andy Bugh, was represented by Doug Carignan of Jones Lang LaSalle.