PRESS ROOMNEWS RELEASE
Inland Real Estate Acquisitions, LLC Closes the Purchase of a Medical Office Building in Texas
Alyssa CampbellInland Communications
Oak Brook, Ill. – Inland Real Estate Acquisitions, LLC announced today that it negotiated and closed the purchase of a 16,050-square-foot medical office building located in Dallas. Matthew Tice, senior vice president of Inland Real Estate Acquisitions, LLC, completed the deal, with assistance from David Neboyskey, assistant vice president and associate counsel of The Inland Real Estate Group, LLC, Law Department, on behalf of an Inland affiliate.
Constructed in 2003, the property is located at 5494 Glen Lakes Drive and includes the Dallas Eye Care Clinic, part of KE Eye Centers of Texas, and an ambulatory surgery center, the Walnut Hill Surgery Center. Dallas Eye Care Associates is located on the second floor of the building, which is elevated to street level, and Walnut Hill Surgery Center occupies the third floor of the two-story building. Open-air parking is available for patients below the footprint of the building. This Dallas Eye Care Clinic also includes a LASIK suite and cataract surgery practice that offers a range of procedures for residents of Dallas, Richardson, Garland, Carrollton, Farmers Branch and other Dallas metro cities.
“Situated across the street from Texas Health Presbyterian Hospital - Dallas, the property’s ideal location off Interstate 75 and among a retail trade area provides nearly 400,000 people within a five-mile radius with convenient access to meet their healthcare and medical needs,” said Tice. “Dallas Eye Care’s longstanding, 50-year history in the area combined with the 13-year tenure of both Dallas Eye Care and Walnut Hill Surgery Center as tenants made this the type of attractive acquisition we are looking for in this asset class.”
To date, Inland Real Estate Acquisitions, LLC has facilitated more than $45 billion of purchases including retail centers, apartments, single-tenant properties and a total of more than $269 million in medical office buildings.
About Inland Real Estate Acquisitions, LLC
Inland Real Estate Acquisitions, LLC assists in identifying potential acquisition opportunities, negotiates acquisition-related contracts and acquires real estate assets for the various entities that are a part of The Inland Real Estate Group of Companies, Inc., a group of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored or managed by Inland Real Estate Investment Corporation or its subsidiaries (collectively, “Inland”). For additional information, please refer to Inland’s website at www.inlandgroup.com.