A Dallas health care real estate firm is teaming up with the city of Garland to redevelop the city’s medical district.
Dallas’ Prevarian Cos. and Chicago-based Harrison Street Real Estate Capital LLC plan to revamp Garland’s medical district on North Shiloh Road.
The deal includes acquisition of five medical office buildings that will be redeveloped into the Valoris HealthPark Garland.
Prevarian and Harrison Street purchased three of the medical office buildings totaling more than 150,000 square feet, which will be renovated and leased to health care providers.
“We appreciate the vision that the city of Garland has demonstrated and look forward to a partnership that will bring to life an exceptional, multi-discipline health care center,” Allan Brown, a partner with Prevarian Cos., said in a prepared statement.
Two other medical office buildings in the district have been bought by the city and will be demolished to make way for future development of health care facilities.
The city is also spending money on neighborhood streetscape improvements, new trails along the adjacent Duck Creek and to improve access to a nearby Dallas Area Rapid Transit commuter rail station.
“We see the redevelopment of this area as important to the needs of the community, as it will provide the desired medical services and amenities that have been needed for several years,” Garland Mayor Scott LeMay said in a prepared statement.
Garland has been working to revamp the medical district since Baylor...
Read Full Story: https://www.dallasnews.com/business/real-estate/2021/08/02/developers-team-up-with-garland-to-revamp-medical-district/
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