Physician investor group North Cypress Land Ventures has broken ground on the first phase of a medical office building in Cypress, Texas, according to an April 29 report from the Commercial Property Executive.
The 60,000-square-foot, multi-building park is expected to cost up to $600 million and will be completed in June 2025.
Once complete, Grand Cypress Medical Pavilions will provide services such as health education, patient care, wellness and cancer prevention.
The project will include four or five buildings and will come online over the course of five years. The first phase will include a 12,000-square-foot endoscopy center. The second phase will feature a wellness center, while a women's center or cancer center could be part of the third phase.
The three-story building has been pre-leased almost entirely, with tenants including Keller Surgical Specialists, GastroDoxs and USPI/Memorial Hermann Hospital Systems.