Woodland Heights 4-Pack Medical Portfolio_Property for Sale
Woodland Heights 4-Pack Medical Portfolio_Property for Sale
Lufkin, TX, US, Americas

Woodland Heights 4-Pack Medical Portfolio

Portfolio description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the Woodland Heights Medical Office Portfolio, a unique opportunity to acquire a 4-asset collection of single-tenant net lease medical office properties, available individually or as a portfolio, fully leased to the Woodland Heights Medical Center, one of the largest employers in Lufkin and a wholly owned subsidiary of Community Health Systems (NYSE: CHS). Comprising over 45,000 square feet in Lufkin, TX, the Portfolio contains $1.1 million of net operating income with ±5.4 years of weighted average remaining net lease term. All assets are on separate leases with minimal landlord responsibilities and 2.0% annual rent escalations.


The Portfolio is comprised of a diagnostic imaging enter, former ambulatory surgical center, and medical clinic that are located adjacent to the 149-bed Woodland Heights Medical Center hospital, in addition to an urgent care and physical therapy / rehabilitation center situated as an outparcel to Sam’s Club and Walmart, which both see 6 million annual visitors combined.


This opportunity offers investors the ability to acquire a net lease portfolio of medical office assets in a tax-free state with an annually escalating rent stream backed by a wholly owned subsidiary of a top, national hospital operator.

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Attributes

Asking price
HK$99,015,000
Cap rate
8.5%
Building area net
45,355 sf
Occupancy
100%
Year built
2006
Land area gross
5.27 acres
WAULT
5.4 years
Annual escalation
Fixed
Woodland Heights 4-Pack Medical Portfolio (4 Properties)
Woodland Heights 4-Pack Medical Portfolio (4 Properties)

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Investment Highlights

  • Tenancy from a top national hospital operator ($12.5 billion in revenues)
  • Adjacent to top 2% Walmart in the nation; 4.1 million annual visits
  • 18% of the MSA population works in the health services industry
  • Adjacent to 149-bed Woodlands Medical Center
  • $621,000 of TI funded across the Portfolio in 2019
  • Limited Landlord responsibilities


Woodland Heights 4-Pack Medical Portfolio 4_Property for Sale
Woodland Heights 4-Pack Medical Portfolio 4_Property for Sale

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Last updated
18 Oct 2024