Practice Real Estate Group Development’s newest medical office project is planned for University Boulevard in Georgetown.

The two-story, 17,000-square-foot building at 1340 W. University Blvd., Georgetown, will offer physician ownership opportunities, project representative Mark Storey said, adding the new project is set to deliver in mid-2021 following significant preleasing activity at the project.

“The location of this site between D.B. Wood Road and I-35 in Georgetown, with its immediate adjacency to Wolf Ranch, has been well received by several healthcare practices with whom we are working,” said Thomas Allen, the founder of Practice Real Estate Group. “The Georgetown market’s continued growth trajectory in the midst of the current economic climate has helped create the traction needed to build this important amenity for the community and immediate area.”

PREG continues to negotiate with practices suited to serve the growing community and the demographics in the immediate area, Storey said.

“We believe in the growth of this market area due to its high quality of life and low relative cost of living, which makes it a strong investment market for our firm and partners,” PREG Development partner Trac Bledsoe said.