SANTA ANA, Calif., March 31, 2008 /PRNewswire/ -- Grubb & Ellis Healthcare REIT, Inc. today announced the acquisition of Cypress Station Medical Office Building in Houston.
Located at 1140 Cypress Station, the structure is a newly renovated, three-story multi-tenant medical office building. Built on approximately 2.6 acres, Cypress Station Medical Office Building consists of approximately 54,000 square feet of gross leaseable area and includes on-site training and conference rooms, a full-service lunch area, an independent back-up generator and 272 parking spaces. The property is 100 percent leased and offers easy access to nearby FM 1960 and Interstate 75.
"Cypress Station Medical Office Building is adjacent to Houston Northwest Medical Center, one of the largest providers of healthcare services in the North Houston area," said Danny Prosky, Vice President, Acquisitions, Grubb & Ellis Healthcare REIT. "The property is within four blocks of Triumph Hospital Northwest, also owned by Grubb & Ellis Healthcare REIT. The close proximity to these hospitals is an attractive factor in our acquisition selection process."
The Triumph Hospital Northwest building was acquired by Grubb & Ellis Healthcare REIT in June 2007 as part of the Triumph Hospital Portfolio. Triumph Hospital Northwest is a single-story 114-bed licensed long-term acute care center.
Houston Northwest Medical Center, a 430-bed hospital, offers comprehensive patient care, including orthopedic, rehabilitation, surgical and cardiovascular services.
Houston Northwest Medical Center has received numerous awards from HealthGrades, the nation's leading independent healthcare rating company. Some of these awards include the 2008
HealthGrades Stroke Care Excellence Award, General Surgery Excellence
Award, Maternity Care Excellence Award and for three consecutive years, the
Gastrointestinal Care Excellence Award. HealthGrades has awarded the
hospital a five star rating f
|SOURCE Grubb & Ellis Healthcare REIT, Inc.|
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