Texas Children's Acquires Emblematic TMC Properties
Texas Children's Hospital announced yesterday that it bought the O'Quinn Medical Tower and Baylor Clinic Building from a JV between Baylor College of Medicine and CHI St. Luke's Health. O'Quinn Tower includes 446k SF of office and clinical space; the 15-story Baylor Clinic Building offers 228k SF.
Texas Children's Hospital will lease back a portion of each building to Baylor College of Medicine and CHI St. Luke's until the new McNair Campus south of the TMC is finished. BCM will lease just over 50k SF in the O'Quinn tower.
The two buildings listed by CBRE have been on the market since April. A third building was listed—a 288-space parking facility that was not part of the purchase. JLL's Dan Bellow, Mindy Berman and David Bale repped Texas Children's.
