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Colliers sells DaVita anchored medical office building near Cy-Fair Hospital in Houston

Colliers is pleased to announce the sale of DaVita medical office building, a 15,353 square foot end cap property located at 11321 Fallbrook Drive in Houston, Texas.The buyer, on a 1031 exchange, was represented by Edward Choi of Edward Choi Investments. The seller, EBK-DA, LLC, was represented by Todd Moore and Connor Duffy of Colliers in the transaction.

 

The DaVita anchored medical office building is situated on 1.88 acres along Fallbrook Drive, in close proximity to FM 1960 directly across from HCA Cy-Fair Hospital within the Cy-Fair Medical Center. The two-unit medical office building was renovated in 2019 to accommodate DaVita and other medical office needs.

 

Davita is one of the largest kidney care companies in the U.S. with a network of 2,753 outpatient dialysis clinics in 46 states serving a total of 207,000 patients. DaVita will continue to lease their portion of the building under a 10-year primary term.

 

"This was a great transaction for both the buyer and seller," said Todd Moore, Principal of Colliers. "The property has tremendous value add potential in leasing up the vacancy, while benefiting from long term, investment grade tenancy in place."

 

Houston's medical office market totals 43.6 million square feet of medical office space, which is currently 88.0% occupied. Rent growth is up 1.9% over the quarter and there are 2.2 million square feet of new product under construction.

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Todd Moore

Principal

Houston

Todd Moore joined Colliers International | Houston in November 2020 as a Principal where he focuses on investment sales of industrial, office, retail and sale leaseback transactions.

Prior to joining Colliers, Mr. Moore served as Director at Stan Johnson Company (SJC) where he spent nine years representing buyers and sellers of net leased assets throughout the United States. During his time with SJC, he transacted close to half a billion in investment sales and was recognized with the Sales Excellence Award and as a Top 10 Producer. He brings more than 12 years of commercial real estate experience to the Colliers team and has a unique ability to effectively analyze and transact leased investment property. 

Mr. Moore’s primary focus is on developers and investor clients in the industrial, office and retail market sectors throughout the United States. His commitment to client services promotes the development of strong relationships with top developers, Real Estate Investment Trusts (REIT) and private investors across the country.

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Connor Duffy

Senior Associate

Houston

Mr. Duffy comes from a background of real estate experts across the country and has a deep understanding of finance. As a second generation advisor in the commercial real estate industry, Connor provides a deep level understanding and knowledge of market research and leasing services throughout Houston, Texas.

With time spent on the process and execution of evaluating properties, Connor understands the value of properties and assists clients, helping them get the most for their assets. After experiencing training from the top producers here at Colliers in Houston, he is equipped to secure tenants looking for placement assistance and help investors make smart business decisions. Connor strives to provide a top-notch experience throughout the entire commercial real estate process and customizes each individual client need that comes across his desk.

Prior to joining Colliers International | Houston, he earned his BBA with a concentration in real estate from Florida State University and spent time working at NAI TALCOR gaining an understanding for the real estate industry and property management sector.

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