Memorial Medical Pavilion to be built by Stream Realty Partners
announced the firm will develop a five-story medical office building in partnership with AMD Global. A joint venture between Stream, AMD and Diamond Realty Investments, closed on June 6, 2017 on the highly sought after 2-acre site in the heart of the Memorial Villages.
DRI is the real estate investment arm of Mitsubishi Corporation and has completed over USD 4,3 billion in acquisition and development transactions over the past 20 years. Complete renderings provide a first look at Stream’s vision to build a state-of-the-art medical facility in an off-campus, private setting.
Memorial Medical Pavilion (MMP) will be a 101 744-square foot class A medical office building with a freestanding parking garage. MMP is just minutes from Memorial Hermann Memorial City Medical Center and the Texas Medical Center, strategically located just west of Voss with convenient entry from and frontage access along the I-10 feeder, Gaylord and Old Voss.
“This will be an exclusive opportunity for physicians and healthcare operators alike to build out and lease clinical, surgical and diagnostic facilities in an outpatient setting,” said Rob Choksi, Vice President at Stream. “Situated east of Memorial City and with roughly 270 000 vehicles per day along I-10, Memorial Medical Pavilion boasts an irreplaceable Houston location with superior visibility and convenient accessibility.”
The building is actively leasing to medical office and first floor retail tenants, and has prominent signage availability along the I-10 corridor. MMP has seen strong preleasing activity and space currently is available on floors one, three and four.
“Off-campus medical office space is a limited resource in this community, and we have generated unprecedented interest in this building,” said Richard Barbles, Vice President at Stream. “We understand that exemplary patient care in a convenient setting is a high priority for our tenants. By focusing the design and development of MMP to meet the niche demands of the healthcare industry, we are creating a unique environment that enables healthcare providers to achieve their goals, and keep their patients happy and healthy.”
Stream has engaged E4H Environments For Health to design MMP. The project will break ground this December and will be ready for occupancy in first quarter 2019.