09 Jul 2013

Forge Realty Partners Acquires 101,000 square foot building in Midtown Dallas

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Forge continues its acquisitions efforts focused on driving value through physician-centric business ventures

Forge Realty Partners closed on 5710 LBJ Freeway across from the $3 billion Dallas Midtown redevelopment. The building, which will serve as the company’s headquarters, is Forge’s second closing in the last thirty days.  It follows Forge’s most recent acquisition of The Hospital at Craig Ranch that included Victory Medical Center Craig Ranch as the lead tenant on the project.

The building is located on the south side of LBJ Freeway just west of Preston Road.  Forge believes this is a prime location for their corporate headquarters with the major redevelopment of Midtown underway.  Beck Ventures along with the City of Dallas is investing $3 billion dollars for the redevelopment of the 430-acre site bounded by LBJ Freeway on the south, the Dallas Parkway on the west, Preston Road on the east and Southern Boulevard on the north.

“We are excited to be in this part of Dallas where the area is on the precipice of major redevelopment,” said Josh Ihde, Managing Partner at Forge.  Forge plans to put significant capital into the building.  They are estimating $1.5 million to $2 million in tenant improvements.

Forge Realty Partners focuses on healthcare projects throughout the country. 5710 LBJ is not a clinical space but Forge will continue their healthcare strategy by partnering with tenants in the medical industry that are owned by physicians.  “We want to continue to unlock value for physicians through the revenue they generate,” said Mr. Ihde.

About Forge Realty Partners
Forge Realty Partners is a full-service commercial real estate firm specializing in the acquisition, development and leasing of healthcare projects throughout the country.  Forge partners with physicians and healthcare providers to develop medical properties focused on maximizing operational efficiency and delivering excellent patient care.  Forge drives value to the physician’s businesses by combining medical real estate opportunities with their vast knowledge of the healthcare landscape.  For more information, visit us at Forge-re.com or follow us on Twitter @ForgeRealEstate