Medcore Dallas-Ft. Worth MOB Portfolio

Marx|Okubo conducted property condition assessments of eight medical office buildings throughout the Dallas/Fort Worth, each ranging in size from approximately 9,500 square feet to approximately 25,000 square feet.

Our team—consisting of a lead architect, mechanical engineer, exterior envelope specialist, and accessibility ADA specialist—surveyed the buildings. This included a eview of the physical conditions related to the site, exteriors, interiors, building systems, equipment, and components related to building infrastructure that was accessible or visible during our site visit. We also conducted a number of specialist reviews including a limited sustainability review, a building measurement review, a detailed review of the building’s vertical transportation systems, and a detailed review of the roofing systems.

At the time of our review, one of the eight properties was under construction and nearing completion. We proposed to our client to provide monthly monitoring services to review construction documents and monitor the quality of construction and budget adherence. Our team performed ongoing site observations of the project during the latter stages of construction and reviewed close-out documentation made available at the property by the developer. Our onsite observation and close-out documentation review provided our client with a summary of the project’s current completion status as well as disclosed remaining/outstanding issues.

During the observation of the property located in Southlake, the team discovered exterior weather barrier issues that were affecting the exterior finishes and veneers at the facades. We documented and communicated to our client important issues so that they were able to raise them to the seller and get either a corrective action in place or place funds in escrow for the client to perform the repairs once the transaction was closed.

Ultimately, we provided a table of anticipated capital costs and deferred maintenance items, to assist our client with financial planning for the properties over a 10-year period.