Ascend Plastic Surgery of Tuscaloosa Net Lease Sale
1847 Commons North Drive, Tuscaloosa, AL, 35406, US
CA$9,773,000 | 1,431 sm
JLL is pleased to offer for sale the fee-simple interest in a free-standing emergency room located in Paris, TX ("Property" or the "Asset"). With a NNN lease in place, the Tenant (“QualityCare ER”) has over 12 years of lease term remaining with 2.0% annual rent increases, and two, 5-year renewal options. The Asset is strategically positioned along NW Loop 286, Paris’ main beltway, which sees 7,830+ VPD in front of the Property.
Fully equipped with an ambulance entrance, radiology equipment, and in-house laboratory testing equipment, QualityCare ER differentiates itself from other urgent care providers by operating a full-service emergency room, while having no relationship to a hospital. This allows the Tenant to provide emergency services with minimal wait time, reflected in the Property’s 4.9 average rating across 432 google reviews.
Paris, TX and the greater Lamar County is home to an extremely concentrated manufacturing work-force, with manufacturing quotas almost triple the national average. Universal Fabricating, Huhtamaki, and Ametsa Packing all announced expansion in Lamar County in 2023, totaling 925,000 SF, $91 million in capital investment, and 280 new jobs.
This opportunity allows for investors to acquire 12 years of growing cash flow from a rare, freestanding emergency room leased to an established healthcare provider and located in a booming industrial city located near DFW.
Long-Term NNN lease with over 12 years remaining and minimal Landlord Responsibilities
Adjacent to Paris Towne Center, which sees 2.2 million annual visitors and ranks in the top 20% of shopping centers in Texas
Leading regional emergency care Tenant with site-level EBITDAR / Rent coverage of > 8.0x
In 2023, 3 companies announced expansions in Lamar County, totaling $91 million of capital investment into 925K-SF of production space and 280 new jobs
Rare urgent-care capabilities, including CT Scans, Ultrasounds, In-House X-rays, and In-House Laboratory testing
Two Fortune-500 companies, Campbells and Kimberly-Clark Corp, have large presences in Lamar County, employing over 1,300