Woodside Health has acquired The Physicians Centre, a 126,059-square-foot medical outpatient facility in Bryan, Texas. A private investor previously owned the asset, according to Yardi Research Data. At the time of sale, the property was leased to 37 tenants.
The former owner had bought the asset in April 2022 from Caddis HealthCare Real Estate for $10.2 million, the same source shows. A $7.2 million loan from Prosperity Bank financed the acquisition.
The current transaction came on the heels of another Woodside purchase, involving two medical outpatient facilities in Greater Orlando, Fla. Those assets total almost 50,000 square feet.
The Physicians Centre, up close
Completed in 1999 at 3201 University Drive E., The Physicians Centre is a four-story facility with three passenger elevators and first-floor retail space. Suites range between 400 and 8,000 square feet. The property also has almost 600 parking spaces.
The tenant roster includes Clinical Pathology Laboratories, Cornerstone Sports Medicine and Integrity Urgent Care, according to the same source. Other medical providers in the area are Brazos Valley Dermatology, Advanced Care Endodontics and CHI St. Joseph Health Hospital.
The medical outpatient building is attached to the 16-bed Physicians Centre Hospital and 4 miles from the Texas A&M University campus. Downtown Bryan is some 6 miles away.
Investment in medical outpatient facilities clocked in at $1.6 billion in the first quarter of this year, marking a steep 42 percent decline from the previous quarter, according to a CBRE report. Despite this quarterly drop, the sector experienced a 5 percent increase in total sales year-over-year. The average price per square foot stood at $279.