MDNews - San Antonio

CONDITIONS IMPROVED IN THE SAN ANTONIO MEDICAL OFFICE MARKE T IN THE FIRST QUARTER. CIT Y WIDE OCCUPANCY WITHIN THE CIT Y'S INVENTORY OF MORE THAN 7 MILLION SQUARE FEE T OF MEDICAL£ONLY OFFICE LE ASE SPACE IMPROVED COMPARED TO THE PRE VIOUS QUARTER, AND RENTS TICKED UP. DEMAND FOR MEDICAL OFFICE SPACE GENER ATED POSITIVE NE T ABSORPTION IN THE FIRST THREE MONTHS OF THE YE AR, RE VERSING THE NEGATIVE ABSORPTION TREND THAT TROUBLED THE MARKE T L AST YE AR. MOREOV ER , RECENT A NNOUNCE‹ M E N T S r e g a r d i n g a c t i v i t y i n o n e o f S a n A n t o n i o 's n e w e s t m e d i c a l of f ice bu i ld i n gs w i l l generat e more p o s it ive a b s or p t ion i n t he c om i n g qua r ter. The Sa n A ntonio Integ rated Me d ic a l Pl a z a , lo c at e d a dja c ent t o t he C u mb erl a nd S u r g ic a l Hos pit a l on t he ca mpus prev iously k now n a s the Victor y Medica l Center, will soon house a 33,000-squa re-foot long-term acute care hospita l (LTAC) a long with a 9,900-squa re-foot dia lysis clinic. "Activity at Integrated Medica l Plaza not on ly s h r i n k s one of t he l a r ge s t vaca nt spaces in the ma rket but a lso generates momentum and demonstrates the streng th of Sa n A ntonio's hea lth- ca re industr y," says Kimberly Gatley, Sen ior Vice P resident a nd Di rect or of Resea rch for R EOC Sa n A ntonio, a loca lly based, full-ser vice commercia l rea l estate compa ny. "Perhaps some of that momentum will ca rr y over to the project around the corner," Gatley says, refer r i n g t o t he for mer Forest Pa rk Medica l Center complex, which wa s shut tered in October of la st yea r a nd purchased at auction in ea rly Ma rch by TCB/Ma rina Del Sol LLC — a compa ny a ff iliated with Texas Capita l Ba nk, the lender that foreclosed on the complex. No pla ns have been a nnounced yet for S P E C I A L S E C T I O N : M E D I C A L R E A L E S TA T E off to a positive start in 2016 BY KIM GATLEY MEDICAL OFFICE MARKET SPECIAL SECTION: MEDICAL REAL ESTATE 1 6

• Cover