July 10, 2018 Comments (0) Views: 592 Dallas-Fort Worth, Healthcare News, Properties, Texas News

Public-Private JV Plans $250M+ Medical Campus in Suburban Dallas

A public-private partnership has received approval to develop a mixed-use medical campus on 60 acres in Mesquite, an eastern suburb of Dallas. Dubbed Verde Center at Peachtree, the project will have a price tag of more than $250 million at full build-out.

Verde Center at Peachtree is being developed through a partnership between Ryan Companies US Inc., Medical Campus Group, Lang and Company, and the Peachtree Foundation. The State of Texas and the City of Mesquite are offering financial incentives to supplement development financing.

“There are few markets in North Texas that have such a direct need for this type of medical and health and wellness campus,” said Ryan Companies’ Rich Couturier.

Located on I-635 at the Gross Road exit, Verde Center at Peachtree is designed as a walkable village. The first phase, which will be developed by Ryan Companies, consists of 15 acres and up to 600,000 SF of inpatient, outpatient, and physician office facilities.

A 25-acre amenity center that follows the banks of a year-round flowing creek will anchor the development. In addition, the project will include a hotel and conference center, a fitness center, and a senior living community.

JLL healthcare brokerage team of Ryan H. Dale and Ruth Griggs are leading marketing and leasing efforts for the property.

Construction is anticipated on the initial phase in mid-2019.

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