FORT WORTH -- Construction has started on a long-planned medical office building in Midtown at the northeast corner of Forest Park Boulevard and Rosedale Street.
The 60,000-square-foot, four-story building is being developed by Raymond Management Co., a Wisconsin hotel company that bought the 9.9-acre site in 2007 from Fort Worth's Trademark Property Co., the original developer. Raymond was originally going to develop two hotels in Midtown but ended up taking on the entire project.Hilton Garden Inn opened in May, and a Homewood Suites will open this summer. The medical office building should be completed this May for tenants to begin finishing out their space.Raymond brought on a Houston-based company to develop the medical building, but the project never got off the ground.Barry Perkel, Raymond's director of real estate, said the company took over development several months ago to fulfill its commitment to the city."No one could get it over the finish line," Perkel said. "We stepped in."The building is 50 percent pre-leased and should open with more tenants based on the current pace of lease negotiations, Perkel said. A primary care clinic, pediatric clinic, pharmacy, bariatric surgery center, audiologist and a urology practice have leases, he said.Leasing is being handled by Sarah Teel of MSL real estate investments in San Antonio.Clear Fork Properties in Fort Worth is developing the retail space, including a Southwest Bank branch and Torchy's Tacos. An additional 10,000 square feet is planned, Perkel said.Sandra Baker, (817) 390-7727Twitter: @SandraBakerFWSTHave more to add? News tip? Tell us
