Cypress Medical Plaza_Property for Sale
Cypress Medical Plaza_Property for Sale
20320 Northwest Freeway, Houston, TX, 77065, US

Cypress Medical Plaza

Asset description

JLL Capital Markets, as exclusive advisor to the owner, is pleased to present for sale a 100% fee simple interest 20320 Northwest Freeway (“Cypress Medical Plaza” or “the Property”), a 76.8% leased medical office asset with 5.2 years of WALT totaling 46,316 square feet located along the Northwest Freeway (“Highway 290”). The Property is less than one mile southeast of HCA Houston Health Care North Cypress Hospital, the only hospital serving the immediate area. Situated in the sought-after 290 Corridor submarket in Northwest Houston, Cypress Medical Plaza benefits from being part of a thriving and rapidly growing healthcare hub, attracting a diverse population of patients and healthcare providers alike.


The asset is currently 76.8% leased with 5.2 years of WALT. Despite having dropped below 50% leased during the COVID-19 Pandemic and being foreclosed upon by the special Servicer in June 2021, the asset has garnered significant leasing activity over the past two years. Cypress Medical Plaza is well-positioned for a new owner to capitalize on this narrative, benefit from the in-place yield, and expedite a business plan to reach full stabilization.


ONLINE AUCTION APRIL 15 - APRIL 17


VIEW TEN-X AUCTION INFORMATION HERE

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Attributes

Building area net
4,303 sm
Occupancy
76.8%
Year built
2008
WAULT
5.2 years
Investment strategy
Value Add
Building class
B

Media

Investment highlights

  • HIGHLY ACCESSIBLE LOCATION WITH EXCELLENT VISIBILITY ALONG HIGHWAY 290


  • STRONG FUNDAMENTALS IN HOUSTON’S HEALTH AND LIFE SCIENCES SERVICES


  • DIVERSE MIX OF MEDICAL SPECIALTIES (DERMATOLOGY, ORTHOPEDIC, PHARMACY, ETC.)


  • RECENT NOTABLE VENTURE CAPITAL INVESTMENTS IN HOUSTON’S THRIVING HEALTHCARE SECTOR


  • IMPRESSIVE POPULATION GROWTH IN THE NORTHWEST HOUSTON SUBMARKET


  • EXCEPTIONAL VALUE CREATION OPPORTUNITY THROUGH ADDITIONAL LEASE UP & STABILIZATION


  • BUILT TO SERVICE THE HIGHEST GROWTH POPULATION NODE OF NORTHWEST HOUSTON
Cypress Medical Plaza 4_Property for Sale
Cypress Medical Plaza 4_Property for Sale

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Cypress Medical Plaza (0 Properties)

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Last updated
Apr 19, 2024