MEDICAL: Conroe – Mercan City Place Development, a division of D’Agostino Companies and Sadler Clinic has completed construction on the first 60,000 SF medical office building of its 54-acre medical campus located at the intersection of League Line Road and I-45 in Conroe.  Jeff Beard, CCIM, President of The J. Beard Real Estate Company, L.P., represented both the landlord and tenant.

Business briefs

D’agostino completes sale of office building D’Agostino Companies, headquartered in The Woodlands completed the sale of a 60,000-square-foot medical office building in October 2010 to Senior Housing Properties Trust.  The building is part of the City Place mixed-use development at the intersection of Interstate 45 North and League Line Road in Conroe.  It was a build-to-suit for regional medical provider Sadler Clinic, which occupied the building in August 2009.

 

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CONROE, Texas — Bryan D’Agostino, CCIM, partner and chief operating officer of D’Agostino Companies headquartered in Conroe, TX, has announced the recent sale of the Mercan City Sadler Clinic I building to Senior Housing Properties Trust.

The three-story, 60,000 square-foot, Class A medical office building was constructed on 4.11 acres as a build-to-suit for regional medical provider Sadler Clinic, which occupied the building in August 2009.

Located in Conroe, TX, at 4015 Interstate 45 North at the intersection of League Line Rd., the building represents the second phase of the City Place multi-phase mixed-use development.

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Phone: 936 788-2060

CONROE, Texas — Bryan D’Agostino, CCIM, partner and chief operating officer of D’Agostino Companies headquartered in Conroe, TX, has announced the recent sale of the Mercan City Sadler Clinic I building to Senior Housing Properties Trust.

The three-story, 60,000 square-foot, Class A medical office building was constructed on 4.11 acres as a build-to-suit for regional medical provider Sadler Clinic, which occupied the building in August 2009.

Located in Conroe, TX, at 4015 Interstate 45 North at the intersection of League Line Rd., the building represents the second phase of the City Place multi-phase mixed-use development.

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Mercan City Place Development, a division of D’Agostino Companies and Sadler Clinic has recently completed construction on the first 60,000 square foot medical office building of its 54 acre medical campus located at the intersection of League Line Road and I–45 in Conroe, Texas. Currently D’Agostino Companies and Sadler clinic are finalizing plans for the development and construction of a second medical tower to be located at the site.

Building one, which was occupied on 8/17/09, includes an Urgent Care Center, as well as support services and physicians medical office space. Future plans may include additional medical offices and supporting patient care activities along with a variety of medical centers of excellence.

This project is the 10th Sadler Clinic location in Montgomery County. With more than 100 physicians and 600 health care professionals representing more than 30 healthcare specialties and comprehensive diagnostics, the Clinic is excited about the opportunity to provide additional healthcare services to the growing population in Montgomery County and the surrounding area. Since its founding 50 years ago, Sadler Clinic has remained committed to providing high quality, comprehensive, and easily accessible healthcare to families in Montgomery County; this new project reinforces this ongoing commitment.

D’Agostino Companies is a full service real estate development company located in Montgomery County, Texas. D’Agostino Companies owns and operates over 300,000 square feet of office, medical office, and retail space as well as a multifamily portfolio. D’Agostino Companies has also developed and sold over 750 residential homes sites in Montgomery County since 2004. With emphasis on quality and long term appreciation, D’Agostino Companies constructs, develops, and manages all of its assets. For more information please tour our website at www.dagostinocompanies.com . D’Agostino Companies has two CCIM members: Charles and Chris D’Agostino, both of whom were instrumental in finalizing this transaction.

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Jeff Beard, CCIM, President of The J. Beard Real Estate Company, L.P., represented both the landlord and tenant. Ranked in the top 25 commercial real estate brokerage firms in the Houston area, The J. Beard Real Estate Company, L.P., provides commercial real estate services, primarily in the greater Houston market. The J. Beard Real Estate Company, L.P., actively represents owners and tenants in the Montgomery County submarket, one of the fastest growing areas in the country. Services include: leasing and brokerage, site acquisitions, property management, development, consulting/tenant representation, and landlord/owner representation.

For more information please contact Melissa Masi at mmasi@jbeardcompany.com or 281-367- 2220 x107

MONTGOMERY COUNTY, Texas –Sadler Clinic in conjunction with Mercan City Place Development, a division of D’Agostino Companies, broke ground November 6, 2008 on its newest medical facility to be located in Conroe, Texas.  The facility is scheduled to open in the fall of 2009.  The 60,000 square foot medical office building will house an urgent care center, physician’s medical office space, and support services.  The clinic anticipates other services offered at the new site will include MRIs, plain film X-Rays, and mammography.

The ground breaking ceremony included speeches by Ronnie Heft, COO of Sadler Clinic, Dr. Jeremy Laningham, family physician from Sadler Clinic, Lee Mediamolle from Whitney Bank, Christ D’Agostino from D’Agostino Companies, and the Mayor of Conroe, Webb Melder.  The project will represent the 11th Sadler Clinic Montgomery County location.  With the ceremony taking place less than one week from Sadler Clinic’s 50th anniversary, the groundbreaking represented a continuation of the clinic’s 50 year commitment to providing outstanding health services to the citizens of Conroe and Montgomery County.

CONROE (D’Agostino Companies) – Construction will begin this fall on a medical campus that developers say will ultimately include 300,000 sf of medical office space, a hospital, a long-term care facility and two commercial pads for restaurants.

Phase one of the Sadler Clinic Medical Campus will consist of a 60,000-sf medical office building that will include an urgent care center.

The project, which will represent the tenth Sadler Clinic in Montgomery County, is being developed by Mercan City Place Development and Sadler Clinic. It will occupy 54 acres at League Line Rd. and I-45.

Mercan City Place Development is a division of D’Agostino Companies.

The Houston Chronicle

MEDICAL CAMPUS: Mercan City Place Development, a division of D’Agostino Cos., and Sadler Clinic are jointly developing a medical campus on 54 acres at League Line Road and Interstate 45 in Conroe.  The campus will initially have a 60,000-square-foot medical office building with the Sadler Clinic leasing the entire space.  The project will represent the 10th Sadler Clinic location in Montgomery County.  Jeff Beard of The J. Beard Real Estate Co. represented both the landlord and the tenant.

Celebrating its golden anniversary year, Sadler Clinic is set to expand with a campus that may become its largest.

Mercan City Place Development, a division of Conroe-based D’Agostino Companies, and Sadler Clinic have signed the first lease and are working to develop a 54-acre property at the northwest corner of League Line Road and Interstate 45. The first building (60,000 square feet) will house an urgent-care clinic, support services and doctor offices, according to a press release from The J. Beard Real Estate Company L.P., which represented Mercan City Place Development and Sadler Clinic in the lease agreement.

Mercan City Place Development was created a year ago specifically for this project, Chris D’Agostino, chief financial officer for the D’Agostino Companies, said.

“We’ve had a working relationship with Sadler over the last 12 months,” he said. “The concept is they want a place to develop a whole medical campus. It’s going to be a great building. It will employ a lot of people and be a nice tax base for Conroe.”

Future plans for the campus may include additional medical offices and supporting patient care activities, along with a variety of medical centers, according to a Sadler Clinic press release.

“The Clinic is excited about the opportunity to provide additional health care services to the growing population in Montgomery County and the surrounding area,” the release stated.

The League Line Sadler Clinic building, according to the release, is anticipated to house approximately 100 employees, with office space for 32 physicians. Services will include magnetic resonance imaging, X-ray, mammography and the urgent care clinic.

Neither D’Agostino nor Sadler Clinic officials discussed the terms of the lease.

Founded in 1958 by Dr. Deane L. Sadler, Dr. Walter Wilkerson and Dr. Irving Watson, Sadler Clinic has nine locations in Conroe, Willis, The Woodlands and Montgomery and employs more than 100 doctors and more than 700 health care professionals.

The first building is scheduled to be completed in August 2009, with possible additional buildings to come later, D’Agostino said.

“It’s imminent,” he said of future development of the site by Sadler. “We’re going to open discussions in the next 90 to 120 days. I would think we’ll probably do an additional building the following year after that (the completion of the first building).”

At this time, D’Agostino said, Mercan City Place Development is working only with Sadler on the site.

He also said a proposal for a tax incremental reinvestment zone would be brought to the Conroe City Council at its next meeting in August.

City officials have not analyzed data to determine what tax benefits might come from the development, which is in the city limits, according to Finance Director Steve Williams. Information about the development probably would come before council members in the next couple of weeks, he said.

A tax incremental reinvestment zone, he said, is a defined zone where the value of the property is frozen for an agreed-upon time. As improvements are made, any incremental value above the base property value would go to fund public infrastructure – such as lights, streets and water and sewer – in the area.

“It’s used to revitalize or encourage development in an area,” Williams said.

D’Agostino is excited about the project and what it means in terms of future growth in the area.

“It will bring in doctors, nurses and support personnel, so they’ll be highly educated and they’ll be buying houses in the area,” he said. “It will be good for everybody.”