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NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

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Key Facts

Year Built 1981
Building Area
Land Area ()

Property Description

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Seven buildings totaling 227,657 square feet on 13.64 acres, providing a critical mass of high quality, medical office product in the desirable South Texas Medical Center market

• Conveniently located on Fredericksburg Road, less than one mile from the Loop 410 and Interstate 10 interchange

• Fredericksburg Road, with traffic counts exceeding 37,000 VPD, is the primary north-south thoroughfare accessing the South Texas Medical Center, which is less than one half of a mile from the Property

• 1,300 linear feet of frontage on Fredericksburg Road, offering tenants remarkable visibility and exceptional access for patients

• Ideally positioned to meet the rapidly growing demand of healthcare services in the area, supported by the South Texas Medical Center’s 12 hospitals and 4,200 inpatient beds

• Recent capital investments have greatly enhanced the Property’s curb appeal and solidified its position as a highly desirable medical office destination in the market

• Ample surface parking surrounding each building, allowing convenient and direct access for all tenants and visitors

Investment Highlights

Highly sought after medical office building complex located on Fredericksburg Road, adjacent to the South Texas Medical Center

• Credit tenants including Baptist Health System, MEDNAX, BB&T, EEOC (GSA), and the Center for Healthcare Services

• Weighted average lease term of 5.1 years

• Substantial economic upside through lease-up and continued transition to medical uses

• Medical tenancy accounts for 73% of current occupancy

100% of rent was collected from May 2020 until January 2021 demonstrating the financial strength of the tenancy and the asset’s resiliency through the COVID-19 pandemic

• Strategic healthcare location adjacent to the 900-acre South Texas Medical Center

• Superior visibility and access from a major seven-lane road with 1,300 feet of frontage

• Substantial recent capital improvements in excess of $1.0M and over $9.0 million since 2012

• Acquisition well below replacement cost

• Convenient access to and from the Interstate 10 and Loop 410 interchange with traffic counts exceeding 435,000 VPD

• Top 25 MSA with over 2.6 million residents and projected growth of 8% in the next 5 years

• Population of approximately 383,000 within a 5-mile radius

• Excellent tenant mix with primary care, pediatrics, rheumatology, ophthalmology, optometry, radiology, pain management, and outpatient rehabilitation

• Over 13.6 acres of infill land

Last Updated Date: 15 Feb 2021
Brian Bacharach
Brian Bacharach
Managing Director, Capital Markets
John Taylor
John Taylor
Managing Director, Capital Markets
License details
TX-466052

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Last Updated Date: 15 Feb 2021

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