Modernized Medical Office Building To Break Ground In Katy
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Katy is getting more medical office.
Houston developer Wile Interests is starting construction on a 75K SF Class-A medical office project, Medical Plaza West, in Katy in Q1 2019. CBRE will handle leasing.
The facility is within the mixed-use center Katy Green, which was also developed by Wile Interests. Medical Plaza West will feature cutting-edge amenities such as private parking for physicians, covered drop-off parking for patients and visitors, visitor parking and gurney elevators.
Medical Plaza West will offer space for specialized providers such as ambulatory surgery centers, radiation oncology and imaging.
"We are thrilled to be involved with this project because not every medical building is able to accommodate these specific medical practices," CBRE First Vice President Brandy Bellow Spinks said in a release. "The developer and partners supporting Medical Plaza West understand the needs of the surrounding medical community and know how to deliver a state-of-the-art building for health providers who want to offer patients a higher level of care.”
Medical office buildings are some of the most appealing property types for investors of all types, and though some experts worry there is a bubble, so far MOB fundamentals are holding steady. The sector, considered recession resilient, is a growing area of new construction in Katy, according to Community Impact Newspaper. Two medical buildings owned by Deen Dayal are due to be delivered there by the end of the year.
Katy is on pace to have 391,000 residents by 2022 and has the top three fastest-growing ZIP codes in Houston, which will lead to demand for more services, such as physician care.