Physicians Plaza II
In October 2007, the principals of Dominion Health care Realty, LLC were instrumental in the purchase of Physicians Plaza II, a 64,000 square foot 6-story medical office building, located on the campus of Methodist Specialty & Transplant Hospital (MSTH) in the South Texas Medical Center in San Antonio, Texas. Methodist is San Antonio’s largest civilian healthcare system.
Having an established relationship with Methodist Healthcare System, the principals of Dominion Healthcare Realty, LLC were invited by Methodist to explore parking solutions for the MSTH campus in combination with a new 90,000 square foot medical office building that was planned for the campus. Dominion Healthcare Realty, LLC is currently working with Methodist on other campus projects.
Initially, $750,000 was committed for renovations t o Physicians Plaza II, including new elevators, new common area restrooms, and improved lobby and common areas. These renovations were completed by Summer 2008.
Furthermore, the principals of Dominion Healthcare Realty, LLC implemented an internet- based work order system for the convenience of Physician Plaza II physician tenants. Tenants can place work orders online and check the status of existing work orders 24-hours/7 days a week. Electronic copies of new work orders are transferred real-time to PDA devices carried by building engineers to facilitate faster response times. Renovation program was completed and most value-add opportunities finished prior to a new ownership group taking over the project resulting in an increase estimated at 30%. DHCR is no longer invested in the property.