Memorial Hermann Health System to open new primary care services location in Katy
23 Jan 2023
By: Katy Times - Contributed Report
NewQuest Properties’ Shops at Katy Reserve has won Memorial Hermann Health System’s nod to be the newest primary care services’ location in the healthcare giant’s network.
The Houston-based healthcare provider has leased an 8,945-sf freestanding building on the last available pad site fronting Spring Green Boulevard in the NewQuest development, home to nearly 1.72 million sf of class A retail space in west Katy. The permitting process is underway, with an anticipated opening penciled for late summer or early fall.
“Memorial Hermann is going to be a great addition to the Shops at Katy Reserve. It’s a strong brand that generates activity wherever it goes,” Lara Lee LaMendola, one of NewQuest’s broker associates, said. She and Kevin Sims, vice president, represented the landlord.
NewQuest and Memorial Hermann have been in negotiations since last spring for the vacant structure, which is strategically positioned on 1.07 acres at one of the project’s multiple entrances. Matt Parsons of JLL represented the healthcare provider.
“Memorial Hermann’s primary care services certainly will add to the daytime activity,” LaMendola said. “It will pair well with our existing tenants by creating a one-stop experience for basic needs, dining and shopping.”
NewQuest’s Shops at Katy Reserve is situated at the bull’s eye of one of the strongest growth markets in Fort Bend County, the intersection of FM 1463 and Spring Green Boulevard, just south of Katy Freeway. Sixty-three percent of the customers live within five miles of the 39.4-acre, two-phase development, which is anchored by a 123,000-sf Kroger Marketplace.
From a growth perspective, the population has spiked 22% in two years. The five-mile trade area presently boasts 226,000 residents, an average household income of $140,000 per year and nearly 20,000 future homes on the drawing boards.
“It’s a strong location. All tenants do really well here,” LaMendola says, “and will continue to do so well into the future given the area’s growth projections.”