COLLEGE STATION – (Realty News Report) – Alliance Consolidated Group of Companies has acquired two net-leased medical properties in College Station and Brenham, Texas.
Chicago-based Alliance pointed to the economic strength of the Texas Triangle—anchored by San Antonio, Austin, Houston and Dallas–Fort Worth—as a key factor behind the investment.
“The population growth in Texas over the past decade has increased demand for Class A and B medical properties,” said Ben Reinberg, founder and CEO of Alliance. “This acquisition supports our continued expansion in a state with sustained economic growth and a favorable tax environment that attracts private investment.”
College Station sits at the heart of the Texas Triangle and benefits from a highly insured population, with more than 95% carrying health coverage. It is a robust healthcare market served by three major systems—CHI St. Joseph Health System, College Station Medical Center and Baylor Scott & White Health—which together employ roughly 3,000 people.
Brenham is strategically positioned to become a prominent medical hub for the surrounding region. Its location between Austin and Houston gives providers access to a regional population exceeding 4 million residents. The property at 539 Medical Parkway is within a half-mile of Baylor Scott & White Medical Center – Brenham, which operates a Level 4 trauma center and a Level 3 stroke facility.
Michael Moreno, vice president and senior director of healthcare at Matthews Real Estate Investment Services, represented the private seller in the transaction.
Alliance, which focuses on the country’s 50 largest metropolitan statistical areas (MSAs), has invested in Texas for more than 15 years and holds multiple assets in the state. Texas continues to lead the nation in population growth; the U.S. Census Bureau reported an increase of 373,965 residents between 2019 and 2020.
Alliance purchased the combined 16,097-square-foot portfolio from a private seller for $6,075,000.
The College Station asset, located at 1730 Birmingham Road, totals 12,958 square feet and is a two-tenant property leased to Texas ENT & Allergy and to CHI St. Joseph and Texas A&M Health Network. The Brenham property at 539 Medical Parkway is 3,139 square feet and is fully leased to Texas ENT & Allergy.
Texas ENT & Allergy is an independent full-service practice offering ear, nose and throat care, allergy treatment and audiology services. CHI St. Joseph’s Health is part of St. Joseph Health College Station Hospital—one of the largest hospital systems in the region—located approximately half a mile from 1730 Birmingham Road.
Alliance Consolidated Group of Companies is a real estate investment firm specializing in net-leased medical properties.
Recent medical real estate activity in the Greater Houston area includes several notable developments:
CONROE: Egrets Group has broken ground on a 53,000-square-foot, three-story medical office building at 3786 FM 1488 in Conroe. The building will accommodate a range of medical services, including primary care, imaging, podiatry, dermatology, physical therapy, sports medicine and pain management.
TOMBALL: General contractor Arch-Con Corporation has started construction on the first phase of the Medical Center of Tomball, northwest of Houston off Highway 249. Developed by Bryant + Stacy Group with Global Healthcare Partners, Phase I comprises a three-story, 64,395-square-foot medical office building that is approximately 97% pre-leased.
RICHMOND: Two suburban medical projects are set to break ground near the Grand Parkway in Fort Bend County, reflecting a broader trend of developers initiating healthcare-focused projects in Houston’s fast-growing suburbs. One site within Grand Center at Long Meadow Farms—a 58-acre mixed-use development—will host a 6,500-square-foot medical office building developed by Dynamite Investments LLC. A nearby tract will accommodate an additional 9,000-square-foot medical office building by another developer, according to NewQuest Properties.
May 18, 2021 Realty News Report. Copyright 2021.
File: Chicago Firm Buys Medical Properties in Texas Triangle
For more about Texas real estate, see the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins.
Photo: Courtesy Alliance Consolidated Group of Companies. Caption: Medical building in College Station.
File: College Station. Brenham. Chicago Firm Buys Medical Properties in Texas. Alliance Consolidated Group of Companies. Net-leased medical.