Newmark Grubb Knight Frank Brokers $56M Sale of MOB Portfolio in Metro Dallas, Houston
PLANO AND CONROE, TEXAS — The Global Healthcare Services division of Newmark Grubb Knight Frank (NGKF) has completed the $56 million sale of a two-property medical office building (MOB) portfolio comprising the 94,359-square-foot Legacy Medical Village in Plano and the 68,832-square-foot Conroe Medical Arts and Surgical Center in Conroe. Garth Hogan, Todd Perman and Chris Gordon of NGKF represented the seller in the transaction. The buyer, American Realty Capital, was self-represented. Legacy Medical Village was built in 2007 and is located at 5425 W. Spring Creek Parkway within the Legacy Business Park. The MOB is located between the Children’s Medical Center Plano and the Texas Health Presbyterian Hospital. Conroe Medical Arts and Surgical Center was built in 2003 and is located at 1501 River Pointe Drive adjacent to the Conroe Regional Medical Center hospital campus. The two medical office buildings are 93 percent leased to healthcare providers, including specialists and primary care physicians. The Conroe facility includes an ambulatory surgical center owned by Tenet Healthcare.