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Texas Children's buys iconic TMC propertiesTexas Children's buys iconic TMC propertieshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=145002016-09-13T05:00:00Z

​HOUSTON - Texas Children's Hospital has purchased the iconic O'Quinn Medical Tower and the Baylor Clinic Building from Baylor St. Luke's Medical Center—a joint venture between Baylor College of Medicine and CHI St. Luke's Health.

However, as part of the purchase, Texas Children's Hospital will lease back a portion of each building to Baylor College of Medicine and CHI St. Luke's Health through their joint venture until they complete their transition to the new Baylor St. Luke's McNair Campus south of the Texas Medical Center.

Baylor College of Medicine (BCM) currently leases space in the McGovern Building but will vacate that and move some administrative offices into the O’Quinn Tower sometime next year.

BCM will lease a little more than 50,000 sf in the O’Quinn Tower.

​The Baylor Clinic Building is a 15-story tower with 227,670 sf of rentable area, while the O'Quinn tower includes 445,725 sf of office and clinical space.​

The plan to sell the TMC properties has been in the works for a while, as Baylor College of Medicine and CHI St. Luke's Health prepare to fully move into their joint McNair Campus in 2019. ​​​​​​

Houston Business Journal
Houston-The Woodlands-Sugar Land
Medical
http://www.bizjournals.com/houston/news/2016/09/13/texas-childrens-buys-iconic-tmc-properties.htmlRead more at the {Source}

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