CommunityMed Urgent Care has snapped up medical office space in NewQuest Properties' Lantana Town Center, taking immediate occupancy to set up a COVID-19 testing site and open its seventh location in North Texas.
The urgent care provider, based in North Texas and locally owned, has signed a long-term lease for a 3,150-sf end cap in Lantana Town Center, a 166,000-sf grocery-anchored project at 3400 FM407 in the Denton County community of Bartonville. CommunityMed is planning to be fully operational by July.
"On Day 1, CommunityMed stepped in to start testing. It's been an eventful few months as we worked out the details of the lease," says Josh Friedlander, vice president of Houston-based NewQuest Properties, which owns Lantana Town Center. He and colleague Kevin Sims, an associate, lease the project.
CommunityMed had reached out shortly after the NewQuest team began marketing the vacancy. Bruce Waxler of Edge Realty Group represented the provider.
"It was an opportunity to get a location in a community with strong demographics and lack of competition," Friedlander says.
Lantana Town Center's five-mile trade area is home to nearly 100,000 people. The average household income is hovering $172,500 per year. The NewQuest development is anchored by a 113,000-sf Kroger Marketplace, which is one of the chain's highest performing stores in the region.
"The center is drawing people from much farther away than five miles," Friedlander says. "Leasing activity continues to be strong at Lantana Town Center because of its location."
In phase I, the leasing team has one pad site and 3,172 sf in two suites available. In phase II, which is across the street, the first structure is open and did so at 100% occupancy. Talks are in various stages of negotiations on several ground leases.
"We are trying to attract more dining options, including fast food, to our center," Friedlander says. "Right now, it's a 10- or 15-minute drive to the closest quick-service restaurant. Most people don't want to go that far."
NORTH TEXAS LEASE
CommunityMed Urgent Care has leased 3,150 sf of medical office space in Lantana Town Center, 3400 FM407, Bartonville, from NewQuest Properties. Josh Friedlander and Kevin Sims of NewQuest Properties represented the landlord. Bruce Waxler of Edge Realty Group represented the tenant.
SOUTH TEXAS LEASE
Fred Astaire Dance Studios has leased 2,713 sf of retail space at 1051 Heights Blvd., Houston, from MFT Heights LP. Chris Dray and Rachael Keener of NewQuest Properties represented the landlord. Bruce Frankel of Frankel Development Group represented the tenant.
NewQuest Properties, founded in 2001, is a privately owned, full-service commercial real estate firm specializing in development, land brokerage, leasing, tenant representation, investment sales and property management services. Headquartered in Houston, NewQuest owns a portfolio encompassing more than 60 retail and mixed-use projects valued at $2.2 billion and provides leasing services for more than 12 million square feet of commercial space in Texas, Louisiana and throughout the U.S.
