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CyFair medical office property has increased occupancy by 33% under Partners Capital’s ownership
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Asset carries unique distinction of being overseen, leased and managed by professional women in the commercial real estate industry
Houston, TX, March 24, 2021 – 11301 Fallbrook Dr, a premier medical office building located in the Cypress-Fairbanks community, has undergone a dramatic transformation since being acquired by Partners Capital—the investment arm of NAI Partners, one of the top five largest privately held and independently owned full-service commercial real estate firms in Texas—including increasing overall occupancy by 33% on the heels of its most recently signed medical professional leases.
Partners Capital has thoroughly renovated the high-quality, turn-key medical office space located just a stone’s throw away from the Cypress Fairbanks Medical Center Hospital. Upgrades include a brand-new lobby; updated visitor waiting area with new furniture; the addition of grab-and-go food options onsite with an expanded seating area; repainted common areas; and landscaping upgrades.
Additionally, 11301 Fallbrook carries the unique distinction of being primarily led by a trio of professional women, a relatively uncommon occurrence in the commercial real estate industry: Kelli Walter, Senior Vice President at Partners Capital, is responsible for executing the property’s business plan; Lesley Rice, Senior Associate at NAI Partners, heads up the exclusive leasing team—which includes Andy Parrish, Senior Associate— and Samantha Doty, of NAI Partners’ Landlord Services Division’s Property Services team, manages the building.
“It’s been gratifying to witness firsthand the hard work our team puts in every day to ensure our tenants are provided the best-in-class service NAI Partners and Partners Capital pride ourselves on,” said Ms. Walter. “And that elite level of service delivery has helped continually attract a steady stream of new clients and elevated Fallbrook to become the envy of the medical office property product type across the Greater Houston area.”
And in mid-March, Partners Capital will be hosting a broker event unveiling the completely redesigned—including updated layouts, furniture and finishes—remaining four suites at the property.
Among the recent new leases at 11301 Fallbrook include 6,293 sq. ft. for Texas Orthodontic Specialists; and 6,983 sq. ft. for Touchstone Medical Imaging, which is a proud partner of U.S. Radiology, one of the largest and most progressive radiology groups in the country. Touchstone’s ambitious plans for the medical equipment and procedures it will offer in its new space include state-of-the-art MRI and CT scanners and a comprehensive imaging approach to include Bone Density, Mammography, X-rays, and Ultrasound.
Additionally, NAI Partners has been quite busy in the medical office, life sciences and healthcare segments outside of 11301 Fallbrook, having completed the largest commercial real estate sales transaction in the Life Sciences sector in the Greater Houston area in 2020, disposing of the former Lexicon Pharmaceuticals campus in The Woodlands.
For additional information about the medical office segment and other NAI Partners transactions, please contact Larry Koestler, Senior Vice President of Marketing & Communications, at 713.629.0500.
For additional information regarding Partners Capital and Fund IV, please contact Andrew Pappas at 713.629.0500.
About Partners Capital
Partners Capital, a wholly owned subsidiary of NAI Partners, owns a real estate portfolio totaling more than 1 million sq. ft. and has completed over $165 million in transaction volume. Partners Capital was created by NAI Partners as a platform to invest in office, industrial, and retail multitenant properties in Houston, Austin, San Antonio, and Dallas that meet the following criteria: can be acquired below replacement cost; carries a $5 million to $30 million purchase price that falls below the interest of institutional buyers; generates positive cash flow; and allows NAI Partners to leverage its extensive industry knowledge and resources to generate attractive cash flow and value appreciation over a projected holding period of three to six years. Visit us on the web at www.partnersrec.com.
About NAI Partners
NAI Partners is one of the top 5 largest privately held and independently owned commercial real estate services firms in the state of Texas. NAI Partners was founded and is headquartered in Houston and has offices in San Antonio and Austin; offers the geographic expertise to complete real estate transactions throughout the state; and can leverage the power of the NAI Global network to arrange deals in any location around the world. NAI Partners employs more than 150 real estate professionals, and arranges more transactions than any of its competitors, completing over 700 commercial lease and sale arrangements every year. NAI Partners is a full-service firm offering client leasing and sales solutions in the areas of Office Tenant Representation, Office Project Leasing, Industrial Tenant Representation, Industrial Project Leasing, Retail Tenant Representation, Retail Project Leasing, Landlord Services, Property Management, Investment Sales, Valuation and Advisory Services, Partners Facilities Services (PFS), and Project Management, among other lines of business. The company also has an investment fund platform called Partners Capital, and a development vehicle called Partners Development, both of which are wholly owned subsidiaries of NAI Partners. NAI Partners is the top Houston-based full-service commercial real estate firm on the Inc. 5000 list of fastest-growing private companies in America; the 5th-largest Houston-Area Commercial Real Estate Brokerage and #1 Mover of Square Feet among leasing and sales brokerages in Houston per the Houston Business Journal; the only commercial real estate firm on the Houston Business Journal’s Mid-Market 50 list; a top 12 largest San Antonio Commercial Real Estate Brokerage per the San Antonio Business Journal; and a top 20 Property Management Firm by square feet under management in Houston per the Houston Business Journal. NAI Partners has been named a Best Place to Work by the Houston Chronicle, Houston Business Journal and Austin Business Journal; and is among the University of Houston’s Cougar 100 Fastest-Growing Companies. Visit us on the web at www.naipartners.com.