February 23, 2023 2:00 PM
Newmark announces it has been awarded the leasing assignment for Park 10 Commons, a mixed-use, multi-tenant medical office building and retail project in Houston, Texas, totaling over 260,000 square feet. Newmark Director Richard Barbles and Associate Director Noelle Hsieh-Schinas are exclusively representing the landlord and owner, 4M Investments, LLC, in the project leasing.
Park 10 Commons features one available and three proposed Class A medical office buildings that can accommodate medical operators seeking 20,000 square feet of space and up. The 205,977 square feet of proposed and existing medical office space available for lease includes 20,977 square feet of existing availability, two proposed 80,000-square-foot mid-size towers, and 25,000 square feet of proposed medical office with direct I-10 visibility. The project’s retail component offers 4,500 square feet of leasable space, including two end-cap suites featuring second-generation restaurant space—one of which has an existing drive-thru lane.
“The proposed Class A buildings at Park 10 Commons—with large blocks of space available in proximity to major medical campuses as well as I-10 visibility—is highly attractive for medical users seeking their new space,” said Barbles.
“Additionally, there is an opportunity for large format users making pre-lease commitments as anchor tenants to influence the features of proposed buildings, catering the space to their use,” added Hsieh-Schinas.
Located at 17754 Katy Freeway in the heart of Houston’s growing Katy suburb, Park 10 Commons is one block East of Texas Children’s Hospital West Campus and Houston Methodist West Hospital. The site offers ±1,200 feet of I-10 frontage, providing excellent visibility to over 200,000 vehicles daily. Additionally, the project is proximate to the under-construction multifamily project Resia Ten Oaks, a 12-story, three-tower apartment development with a combined 576 units.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues of approximately $2.7 billion for the year ending December 31, 2022. Newmark’s company-owned offices, together with its business partners, operate from approximately 180 offices with nearly 6,700 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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