Pisula Development Snags 120K-SF Sugar Land Medical Plaza

Pisula Development Snags 120K-SF Sugar Land Medical Plaza

August 30, 2019

Pisula Development Co., the development arm of RRC Medical Real Estate LLC, partnered with Harrison Street to acquire CHI St. Luke’s Health Sugar Land Medical Plaza, a 120,596-square-foot medical office building on the Houston metro’s far southwest side. Shane Seitz, Chris Bodnar, Lee Asher, Ryan Lindsley and Sabrina Solomiany with CBRE represented seller St. Lukes Episcopal Health System Corp. in the transaction.

The building at 1327 Lake Pointe Pkwy. delivered in 2008. It is attached to the CHI St. Luke’s Hospital-Sugar Land Campus, with tenants aligned with CHI St. Luke’s and University of Texas-MD Anderson. Pisula Development, headquartered in The Woodlands, TX, will lease and manage the property, which was 81.7% occupied at time of the sale.

“Affiliating with CHI Health, one of the nation’s largest health systems, along with respected tenants like The University of Texas, MD Anderson, meets our continued goals of partnering with strong operators and providing excellent healthcare through outstanding real estate opportunities,” said Jim Pisula.

About Pisula Development Company

Pisula Development Company is the development arm of RRC Medical Real Estate LLC (RRC), a full-service, commercial real estate firm with offices in Texas, Colorado, Pennsylvania, and Arizona. RRC’s headquarters are located in The Woodlands, Texas, a suburb of Houston. RRC provides property, asset and facilities management services for over 2.5 million square feet of commercial real estate. Through its Pinecroft Realty LLC subsidiary, RRC provides leasing and brokerage services. RRC strives to provide these services in a cost-effective manner while creating an alignment of interest among all parties. RRC is also committed to developing energy efficient buildings when possible. As a recognized leader and innovator in the industry, RRC continues to attract and retain a distinguished and growing roster of tenants, lenders and investment partners. For more information, please visit www.PinecroftRealty.com.

About Harrison Street

Harrison Street is a leading investment management firm exclusively focused on alternative real assets. The firm has created a series of differentiated investment solutions focused on the Education, Healthcare and Storage sectors. Headquartered in Chicago with an office in London, the firm has more than 140 employees and approximately $21.5 billion in assets under management. Clients of the firm include a global institutional investor base from 11 countries. For more information, please visit www.harrisonst.com.