With its sights set on an April 2020 opening, Kelsey-Seybold is under construction on a 37,000-sf two-story clinic in NewQuest Properties' Grand Morton Town Center in northeast Katy, the highest growth residential market in the U.S.

The multispecialty group practice has secured enough land to expand the Kelsey-Seybold Morton Ranch Clinic by 17,000 sf in the future. The 3.77-acre site sits at the eastern gateway of Grand Morton Town Center at a signalized hard corner with an unobstructed view of Grand Parkway/TX 99.

"Kelsey-Seybold will open a multi-disciplinary medical facility with a great deal of advanced medical and specialty services. That's why we saw this as a natural fit within our project," says Ashley Strickland, vice president of NewQuest Properties Healthcare & Wellness Division. "It is mutually beneficial."

One of the strongest trends to emerge in the healthcare industry in recent years is the benefit of co-tenanting across the retail, restaurant and medical sectors. "We've never been busier. In the past six months, we've signed or are working on 80,000 sf of medical-related transactions in retail settings," Strickland says.

At build-out, the 91-acre Grand Morton Town Center will seat 600,459 sf of retail, restaurants and medical office space. Kelsey-Seybold is the largest medical services tenant to date in the NewQuest development.

"It's convenient for patients to have retail and restaurants within walking distance of a medical facility of this size and caliber," Strickland says. "As for our project, the Kelsey-Seybold Morton Ranch Clinic will ensure long-term sustainability by adding to the development's continued steady base of customers."

The ground lease was the result of direct negotiations with Kelsey-Seybold and the NewQuest healthcare division, which is led by Strickland. The clinic will be adjacent to a proposed 34,000-sf LA Fitness.

Roughly one-fifth of Grand Morton Town Center's 91 acres is dedicated to pad sites, a land plan set in motion by NewQuest's ability to acquire 1,800 linear feet of frontage along Grand Parkway and 1,500 linear feet along Morton Ranch Road – a total of three-quarters of a mile of frontage at a regional intersection with a daily traffic count exceeding 53,000 vehicles. Josh Friedlander, vice president of NewQuest, and Rebecca Le, senior vice president, lease the mixed-use regional center for the Houston-based developer.

Since it opened, Grand Morton Town Center's tenants consistently log some of, if not the, highest annual sales volumes for their brands. One of the reasons for the stellar performances is a location with a population of 403,433 within a seven-mile trade area and an average annual household income of $113,000. And the other is a strong mix of regional and national tenants anchored by a 123,531-sf Kroger Marketplace and a 186,902-sf Walmart super-store.

The Kelsey-Seybold Clinic multispecialty group practice has more than 400 physicians and allied health professionals, representing 55 medical specialties, at 21 locations in Greater Houston. It was founded in 1949 by Dr. Mavis Kelsey at the world-class Texas Medical Center in Houston.

SOUTH TEXAS SALES

Base 48 LLC has acquired 47.95 acres at 11001 Hwy 183, Austin, from Buda 347 Partners Ltd. Brad Elmore of NewQuest Properties represented the buyer. Kristiana Beck of Cook Commercial Real Estate represented the seller.

SOUTH TEXAS LEASES

Kelsey-Seybold has ground-leased 3.77 acres (164,453 sf) to develop a 37,000-sf clinic in Grand Morton Town Center, located at the intersection of Grand Parkway/TX 99 and Morton Ranch Road, Katy, fromNewQuest Properties. NewQuest Healthcare Division represented the landlord in the direct deal.

McDonald's has ground-leased a 0.98-acre pad site (42,860 sf) in the Grand at Aliana, located at the intersection of West Grand Parkway S. and West Airport Boulevard, Richmond, fromNewQuest Properties. Josh Friedlander and David Meyers of NewQuest Properties represented landlord in the direct deal.

7 Leaves Café has leased 1,200 sf of retail space at 3825 Richmond Ave. (Weslayan), Houston, from Richmond/Weslayan Ltd. John Nguyen and Grace La of NewQuest Properties represented the tenant. David Greenberg and David Greenberg II of the Greenberg Co. represented the landlord.