Dallas-based Caddis announced plans to develop Frisco Medical Pavilion II, a 60,000-square-foot medical office building at 12950 Dallas Parkway in Frisco, Texas, immediately north of the new Texas Health Frisco hospital. Transwestern Real Estate Services has been tapped to provide Agency Leasing services for the development. Construction is expected to begin in mid-2022 with an estimated completion by summer 2023.
Upon completion, Frisco Medical Pavilion II will be a Class-A medical office building featuring a lobby, elevator cabs with gurney capacity, 20,000-square-foot floor plates and the capability for an ambulatory surgical center on the first floor. Exterior features will include an approximately 15,000-square-foot outdoor wellness area, exterior building signage opportunities for full-floor tenants, covered patient drop off and on-site parking with ratio of 5/1,000. The site features visibility opportunities along the Dallas North Tollway.
Centralized in one of the highest-income cities in North Texas, the property features more than 253 retail and dining options within a three-mile radius and has proximity to several large hospital systems such as Texas Health Resources, Medical City Healthcare, Scottish Rite for Children, Children’s Health and Baylor Scott & White Health.
Caddis offers a full range of healthcare real estate investment services and manages a portfolio of more than 70 properties across 16 states, comprising nearly five million square feet and valued at more than $1 billion.
According to Transwestern research, increased penetration of the already prevalent ‘flight to quality’ trend has intensified demand for quality space, and well-positioned properties are likely to capture a greater share of market activity and outperform in 2022 and beyond.