Wylie Medical Plaza 60% Pre-leased with Recent Signing of Well-Known Healthcare ProviderWYLIE, TX
- PM Realty Group (PMRG), a national, full-service commercial real estate firm, today announced that construction of Wylie Medical Plaza will commence May 2012. Wylie's newest state-of-the-art medical office building will be located 22 miles northeast of Dallas at FM 544 and Sanden Boulevard in Wylie, Texas. PMRG's newest development is 60% pre-leased with the signing of Lake Pointe Health Network
(LPHN), part of Tenet Healthcare Corporation. LPHN is taking nearly 13,000 square feet. PMRG anticipates the further addition of both primary care and various specialties to provide patients with a full-service, synergistic medical campus.
With a grand opening slated for fall 2012, Wylie Medical Plaza will be the newest and largest medical office building in Wylie, providing a first-class healthcare experience for physicians and patients alike. LPHN, Wylie Medical Plaza's anchor tenant, will feature a full-service emergency department and diagnostic imaging center (DIC) within the 51,000 square feet of Class-A medical office space. The emergency department will operate 24/7 and offer the same level of emergency services that are offered at Lake Pointe Medical Center. The DIC will be a fully digital outpatient center open Monday through Friday offering CT, MRI, digital mammography, bone density, ultrasound, and digital x-ray.
Additional property highlights:
- 24/7 Emergency Department offering Primary Stroke Center designation (including full-service diagnostic imaging center)
- Emergency heli-pad on site, adjacent to the building
- Attractive tenant improvement allowance
- Phase II planned within the next five years
"PMRG plans and designs its building with physicians and patients' needs in mind," said Glen Perkins, Executive Vice President and Managing Director of Development. "Our medical office buildings offer increased operating efficiencies as well as ownership opportunities for the physicians and attractively designed, calming environments for the patients." "LPHN is excited to bring our award-winning service and quality to the greater Wylie community and is making a financial commitment of nearly $10 million for this project. The City of Wylie has been an outstanding partner in making this project a reality, and we are delighted to invest in and look forward to partnering with the community to improve the health and well being of its citizens," stated Eric Evans, Chief Executive Officer of the Lake Pointe Health Network. "This project is planned to open in November of this year and will provide convenient, high quality diagnostic imaging and emergency access to the greater Wylie community."
As early as 2005, Wylie had already been distinguished by the Dallas Business Journal as one of the Top 50 "Best Places to Work" in the Dallas-Fort Worth Metroplex. Matt Woolsey of Forbes.com, ranked Wylie 8th in the nation for explosive population growth. In 2011, Inovar, a highly respected medical research firm, characterized Wylie's medical market as better than 99.06 percent of all markets nationally.
Perkins stated, "Numerous sites were evaluated for the continued expansion of PMRG's medical development initiatives and Wylie quickly moved to the forefront. PMRG's research indicates there is a significant shortage of both primary and specialty care physicians in Wylie and that number is expected to increase by 47% over the next 5 years. Said differently, the Wylie community needs more than 84 physicians. Additionally, inpatient acute care procedures are expected to grow by 36% and outpatient procedures by 35% over the next 5 years. This translates into significant expansion opportunities for the hospital and physicians alike."
"This medical complex will truly be a benefit to our citizens and our surrounding communities," explains Eric Hogue, Mayor of Wylie. "Not only will it bring in medical professionals who will be able to provide a new level of service and support to Wylie, but it will also provide a 24 hour emergency room facility to help individuals in their time of need. This is a win-win for the citizens of Wylie."
"Wylie Fire & Rescue is excited to welcome another team member in the community to help with the provision of emergency medical services," explains Randy Corbin, Fire Chief, Wylie Fire Rescue. "The fact that an emergency room operated 24/7/365 will be right here in Wylie means that cases can be taken there with a short transport time, and the Medic Unit with its Paramedics can be immediately back in service, ready for another call. Currently, turn-around time can be 45 minutes or more due to transports to emergency rooms in other cities."About Lake Pointe Health Network
Lake Pointe Health Network is a locally focused health network developed by Lake Pointe Medical Center and designed to improve access to healthcare services in Forney, Rockwall, Rowlett, Royse City, Sachse, Wylie and the surrounding communities. The network currently comprises Lake Pointe Medical Center, a 112-bed acute care hospital located in Rowlett at 6800 Scenic Drive; Lake Pointe Imaging Centers, diagnostic imaging centers located in Rockwall at 1005 West Ralph Hall Parkway, Suite 121 and in Forney at 763 E. State Highway 80, Suite 120; Lake Pointe Sleep Center, located in Rowlett at 7501 Lakeview Parkway, Suite 140; Lake Pointe Cancer Center, a center providing comprehensive cancer care, located in Rowlett at 7501 Lakeview Parkway, Suite 120; Lake Pointe Breast Center, a center providing comprehensive breast care, located in Rockwall at 1005 West Ralph Hall Parkway, Suite 121; Lake Pointe Wound Care Center, a comprehensive wound care center that includes hyperbaric oxygen therapy, located in Rowlett at 7501 Lakeview Parkway, Suite 240; Lake Pointe Urgent Care Center, located in Rockwall at 1005 West Ralph Hall Parkway, Suite 115; Lake Pointe Cardiac Rehabilitation, located in Rowlett at 7801 Lakeview Parkway, Suite 110; and Lake Pointe Fitness and Outpatient Rehabilitation, located at 9400 Lakeview Parkway, Suite 124. Lake Pointe Health Network is committed to providing the same high quality health care found at Lake Pointe Medical Center.
To learn more about Lake Pointe Health Network, please visit lakepointemedical.com
About PM Realty Group
Headquartered in Houston, Texas, PM Realty Group (PMRG) is one of the nation’s leading real estate companies focusing on comprehensive property services, development and acquisitions. With a strategic presence in 30 markets, PMRG provides the highest quality services to its clients and investors. PMRG’s clients and investors include large financial institutions, advisors and high net worth individuals. By capitalizing on the team’s experience and expertise, PMRG has the ability to undertake large and challenging management, leasing, development and acquisition projects.
PMRG’s portfolio, including projects managed for third parties, includes commercial office buildings, mixed-use centers, corporate headquarters, industrial buildings, medical facilities, high-rise multifamily buildings and re-appropriated military facilities.
Our goal is to generate exceptional returns for our clients and investors by focusing on real estate fundamentals. For additional information, visit www.pmrg.com