Indianapolis-based real estate developer Duke Realty announced it has increased its presence in Texas with its purchase of Cedar Park MOB 1—a four-story facility located on the Cedar Park Regional Medical Center campus—in a news release Jan. 27.
Duke Realty, which owns medical office properties in four Texas metroplexes, acquired the 83,383-square-foot building for an undisclosed amount. The building houses Austin Regional Clinic, Cedar Park Women's Center, Texas Orthopedics Sports and Rehabilitation Associates, and other medical service providers.
"The acquisition of Cedar Park Medical Office Building is in line with Duke Realty's strategy to expand its health care holdings by acquiring highly leased properties on the campuses of strong health care systems," said Don Dunbar, executive vice president of Duke Realty's health care operations. "Cedar Park Medical Office Building is a 95 percent-leased property that is affiliated with two well-respected and growing health care systems."
CPRMC is owned jointly by Community Health System and Seton Family of Hospitals, and is part of the Ascension Health organization. The acquired building is adjacent to the 150-bed general surgery hospital.
