November | 2019
Echo Development Group, Inc. Acquires Class A Medical Office Building in Topeka, Kansas
Echo Development Group, Inc., in association with Quivet Neck HCRE, LLC, announces it has acquired a class A medical office building anchored by the University of Kansas Health System and Stormont Vail Health.
The property is approximately 27,000 square feet and is located at 601 SW Corporate View, Topeka KS in the heart of the Tallgrass Medical District – the dominant medical submarket in Topeka. The building was 100% occupied at the time of sale by four tenants that include an imaging center operated by KU Health/St. Francis, an urgent care operated by Stormont/Vail Health, a hearing, balance & physical therapy clinic, and a pharmacy. Adjacent to the site is an additional 1.5 acres that were included with the acquisition. Echo Development is currently in the pre-development phase for an additional +/- 20,000 square feet of complementary class A medical space.
“We are very excited about this acquisition as it gives us a foot hold into the Kansas City, Lawrence, and Topeka markets. Strategically, we’ve made similar progress in Indianapolis, Denver and Colorado Springs where we have active projects,” said Echo Development Principal Jon Boyajian. “With Topeka, we have a fully occupied MOB, with great health system tenancy and credit, and the ability to expand on site if either system has a change in their space needs. There are a number of ways we can create value.”
Echo Development Group, Inc. is an acquisition and development firm based in Chicago, Illinois. Echo’s primary focus is healthcare, retail and industrial assets as well as nationwide programmatic build-to-suit development.
Quivet Neck HCRE Investments, LLC is an investment group founded by Andrew Lawler, a Regional Partner for Cornerstone Companies – a specialist in Healthcare Real Estate.