BELLAIRE – (Realty News Report) – UT Physicians has chosen Bellaire, located about four miles west of the Texas Medical Center, for a major new office facility.
Transwestern Real Estate Services announced that UT Physicians has signed a 139,243-square-foot lease at Bellaire Station, located at 6500 West Loop South in Bellaire.
The building, a long, low five-story structure with 600-foot corridors that previously housed AT&T, sits along Loop 610 between Bissonnet and Bellaire Boulevard and is a distinctive presence in the area.
Transwestern’s Lisa Bovermann represented UT Physicians in the transaction. Justin Brasell, Doug Little and Ashley Cassel represented the landlord, Capital Commercial Investments.
Bellaire – The De Facto Texas Medical Center Annex
Bellaire has attracted several medical-related office leases in recent years. In 2019, Houston Methodist leased 100,000 square feet in the former Chevron building at Loop 610 and Fournace Street, now owned by SLS Properties. Chevron once employed about 900 people at that 30-acre, low-density campus; its size offers redevelopment potential, though Bellaire’s careful planning means growth advances deliberately.
Many Bellaire residents work in the medical industry, and the city is a direct route down Bellaire Boulevard to the Texas Medical Center. The Texas Medical Center supports more than 100,000 workers, handles approximately 26,000 births and performs about 180,000 surgeries each year, and currently has roughly $3 billion in construction underway. The UT Health Science Center medical school is also located there.
“We are finding that the Bellaire submarket is a strong alternative to the Texas Medical Center,” said Transwestern’s Justin Brasell. “Access to the 610 Loop and the neighborhood’s many restaurants, shops, residential areas and schools are among Bellaire’s greatest strengths. While only seven minutes west of the TMC, Bellaire offers easier navigation for patients and seniors, lower parking costs and convenient access to routine practices such as obstetrics, family medicine and pediatrics.”
Bellaire Station, the former AT&T building, totals 389,826 square feet of office space. The UT Physicians lease includes several negotiated upgrades to adapt the building for clinical use: increased parking capacity, new patient drop-off areas at the front and rear, HVAC improvements to support medical equipment and clinical operations, elevator upgrades, and a remodeled lobby designed to enhance the patient experience.
“UT Physicians engaged Transwestern to guide a strategic consolidation in the Bellaire submarket that would lower costs, reduce footprint and improve operational efficiency for patient care,” said Lisa Bovermann. “We took on the task of identifying traditional office buildings in the soft-office market that could be repurposed for medical use. 6500 West Loop South met many key requirements, including parking, accessibility and a landlord willing to make the necessary improvements to meet the client’s needs.”
Dec. 5, 2021 Realty News Report. Copyright 2021.
For more about Texas real estate, see the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins. Available for purchase.
File: TMC2: Bellaire Gains Another Medical Tenant
Image: Courtesy Transwestern