HOUSTON, June 15, 2017 /PRNewswire/ -- Stream Realty Partners (Stream) today announced the firm will develop a five-story medical office building in partnership with AMD Global, LLC (AMD). A joint venture between Stream, AMD and Diamond Realty Investments, Inc. (DRI) 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 $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.
For tenant specifications and inquiries, please contact 713.300.0291 or 713.300.0288.
About Stream Realty Partners
Stream is a commercial real estate firm with multiple locations across the country. The company's full-service offerings cover the broad spectrum of leasing, management, development, construction, and investment sales services across the healthcare, office, industrial, retail, data center, and multifamily industries. In addition, Stream specializes in structuring and investing in acquisition and development opportunities for the firm and its clients. Since its formation in 1996, Stream has grown from its two original partners to a staff of more than 700 real estate professionals nationwide, with regional offices in Atlanta, Austin, Charlotte, Chicago, Dallas, Denver, Fort Worth, Houston, San Antonio, Southern California and Washington, D.C. Stream currently has more than 120 million square feet of assignments across the nation, completes over $2.4 billion in real estate transactions annually and is considered one of the most active investors and developers in the real estate industry. Visit www.streamrealty.com.
E4H Environments for Health
E4H Environments for Health is a nationally recognized architecture and planning firm focused exclusively on the healthcare industry. We are dedicated to creating flexible environments for health that enhance the well-being of patients, staff and families. Our 130 healthcare architects and planners provide value to our clients through efficient Smart Facility Design. Our solutions create environments that strive to reduce operating costs, support new care models, and are economically and environmentally sustainable.
About AMD Global
AMD Global is a Houston-based development firm with a broad portfolio of assets in healthcare, commercial real estate, energy, occupational care, and data centers. AMD offers full-service development, management, and investment services for partners and third-party investors providing exposure to distinct opportunities in these diversified sectors while operating to the very highest ethical, moral, and qualitative standards. From conception to implementation, our assortment of projects maintains a unified message of social responsibility while preserving maximum profitability.
Media Contact: Lauren Sweeney
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SOURCE Stream Realty Partners