Action Behavior Centers - DFW_Property for Sale

12203 Bear Plz, Fort Worth, TX, 76028-0285, US

Action Behavior Centers - DFW

Asset Description

Jones Lang LaSalle Americas, Inc is pleased to offer for sale the fee simple interest in the Action Behavior Centers autism therapy facility in Dallas-Fort Worth. Comprising ±7,714 square feet of newly-renovated medical office space, the facility located at 12201 Bear Plaza, Burleson, TX (the “Property”) will be home to Action Behavior Centers (“ABC” or “Tenant”), a high-quality and fast-growing applied behavior analysis therapy clinic for children with autism spectrum disorder. The Tenant is owned by Charlesbank Capital Partners, a Boston-based private equity firm, that acquired ABC at a valuation of ±$840 million in August 2022. The Tenant currently has ±144 therapy locations open or set-to-be-open across Texas, Colorado, Illinois, North Carolina, and Arizona.

Located in a highly desirable location just off Interstate 35 (126,500 vehicles per day), the Property is in a dense retail and medical-office corridor of Fort Worth surrounded by strong regional and national brands such as: AdventHealth Care Center, Fort Worth Heart, Texas Pathology Consultants, and Heritage Place Assisted Living. Notable retailers include Academy Sports + Outdoors, Best Buy, and Kohl’s as well as an H-E-B that is in the 90th Percentile of H-E-B grocery stores in the US by annual visits, per Placer.ai. Additionally, there are more than 153,000 residents with an average household income over $99,000 within a 5-mile radius of the Property.

Investors have the exceptional opportunity to invest in a mission-critical medical office asset in a high-growth market and dense medical-oriented sub-market, further supported by 3.00% annual rent escalators, a fair market value rent reset at renewal, and minimal landlord responsibilities.

...

Attributes

Asking Price

€2,998,000

Building area Net

717 m²

Occupancy

100.00%

Year built

2010

Cap Rate

6.00%

NOI

€180,000

Media

Investment Highlights

OPTIMAL LOCATION IN A DENSE MEDICAL CORRIDOR WITH STRONG DEMOGRAPHICS

The Asset is along a strong medical and retail corridor with 4 shopping center, 7 brand-name hotels, Spinks Regional Airport, and Texas Health Huguley Hospital, a 291-bed regional hospital with a $73M expansion that has created medical offices demand in the area.
The Property is just off Interstate 35 with direct exposure to over 126,500 VPD.
State of Texas is the #1 state for doing business 17 years in a row, per CEO Magazine.

HEDGE AGAINST INFLATION WITH 3.00% ANNUAL ESCALATORS AND FMV OPTION

The lease provides contractual 3.00% annual base rent increases throughout the 10-year primary term. Additionally, at the time of renewal, the base rent will reset to 95% of Fair Market Value, providing investors with significant income growth through the primary term and a mark-to-market opportunity at time for renewal.

TENANT EXPERIENCING ROBUST GROWTH WITH STRONG PRIVATE EQUITY BACKING

Recent CDC data indicates at least 3 million Americans are on the autism spectrum, which is at least 10x as many children now considered on the spectrum than 40 years ago driven by increased awareness, screening and diagnosis. As such, ABC is growing to meet the significant demand for high-quality, applied behavior analysis therapy for the increasing number of parents seeking therapy for the children by age 3.
ABC’s private-equity ownership, Charlesbank Capital Partners, is an established middle-market investment firm based on Boston with a successful track record for supporting its portfolio companies' growth trajectories.

DEFENSIVE MEDICAL OFFICE ASSET WITH STRONG NET LEASE FUNDAMENTALS