With medical services in high demand, NewQuest Properties has signed a long-term lease with two physicians for a plug 'n play emergency treatment clinic in Tanglewood Shopping Center in Uptown as their second location in the region.
Drs. Keegan Massey and Abdul Kudrath are planning to open Post Oak ER between mid-October and Nov. 1. They are taking over a 5,575-sf clinic, formerly leased to Sacred Heart.
"They've inherited nicely built-out space in one of the best available locations in the city," says Josh Friedlander, vice president of Houston-based NewQuest Properties. "They've been waiting a couple of years for the right opportunity to come along."
The treatment facility is ready-to-go space with sundry medical equipment in place, including imaging machines, plus a reception area and examination/treatment rooms. Minor cosmetic enhancements, such as painting, will be completed before the grand opening. Chadd Bolding of Colliers International was Post Oak ER's tenant representative.
At the partners' clinic in Angleton, Massey and Kudrath offer pediatric, cardiology, trauma/injury, lab and imaging services. "The doctors feel like their hands-on approach, focus on marketing and a great customer experience will differentiate them and lead to success at this location," Friedlander says.
The 48,306-sf Tanglewood Shopping Center is a single-story, seven-tenant project at the corner of South Post Oak Road and San Felipe Street in a prestigious neighborhood bustling with residential and office construction. Friedlander leases the property for RPI Management Co. LLC.
"The properties surrounding Tanglewood Shopping Center are being redeveloped vertically," Friedlander says. "We have a one-story project with the convenience of parking and the ability to walk right in, which in a vertical area is a great amenity."
Because of its location, Tanglewood Shopping Center historically is well leased. Abutting Post Oak ER is a 32,944-sf Total Wine, which anchors the project. There is one vacancy – 3,560-sf end cap adjacent to the future Post Oak ER.
The retail project is directly across the street from BLVD Place, a 21-acre development with 100,000 sf of retail, including a Whole Foods Market, along with 150,000 sf of office and 355 upscale apartments. Adjacent to the NewQuest-leased shopping center is an under-construction 40-story, 365-unit residential tower with a 2022 delivery date.
Situated on the doorstep of Loop 610, Tanglewood Shopping Center is less than one mile away from Houston's premier shopping destination, the Galleria, and Uptown Park, which attracts 23 million visitors per year. The submarket contains more than 23 million sf of office space, 31 hotels and 2,900 multifamily units and residences with a median sales price of $800,000 in the community of Tanglewood.
"The daytime and nighttime population in Uptown is unmatched in the city," Friedlander says.
SOUTH TEXAS LEASES
Re-Bath Houston has leased 5,985 sf of warehouse space in Prologis West by Northwest Building 5, 6630 Roxburgh Dr., Houston, from Prologis Targeted US Fund LP. Chris Dray of NewQuest Properties and Alex Wright, formerly with the firm, represented the tenant. Darryl Noon of Transwestern represented the landlord.
Post Oak ER has leased 5,575 sf of medical space in Tanglewood Shopping Center, located at the intersection of San Felipe Street and South Post Oak Road, Houston, from RPI Management Co. LLC. Josh Friedlander of NewQuest Properties represented the landlord. Chadd Bolding of Colliers International 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.
