US Renal Care
US - Logan, UT
$4,073,000 | 10,601 sf
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the fee simple interest in a single-tenant emergency room located at 3302 Palmer Hwy (the “Property” or “Asset”) in Texas City, TX. The Asset features tenancy from CHCA Clear Lake (the “Tenant”), a subsidiary guarantor to HCA (the “Parent”), one of the nation’s leading providers of healthcare services, operating 186 hospitals and more than 2,300 sites of care in 21 states and the United Kingdom. The Clear Lake Hospital network is one of the top performing subsidiaries for the Parent by patient revenue and growth. HCA’s massive scale and long track record of stable operating performance provide industry-leading support on a net lease with 10 years remaining. Located in a dense retail corridor anchored by three national grocery tenants, Kroger, Aldi, and H-E-B, the site is exposed to ±30,000 VPD. 30% submarket population growth over the last decade has driven investment and expansion to the area including a 2,033-acre master-planned residential development, Lago Mar. Situated less than 10 minutes from the Asset, the community will accommodate 14,000 residents in 4,000 new homes upon completion. The Property presents a rare opportunity to acquire highly sought-after medical office space in a growing market with a long-term lease and strong tenancy.
STRATEGIC POSITIONING IN GROWING MARKET
• The Asset’s submarket, NASA/Clear Lake, has seen nearly 30% population growth over the last decade, spurring investment and development.
• A 2,033-acre master-planned community, Lago Mar, is under construction less than 10 minutes from the Property, housing 14,000 new residents upon completion.
BEST-IN-CLASS HEALTHCARE PARENT
• HCA (Moody’s: Baa3; S&P: BBB-) is a leading health care services company operating more than 2,300 sites of care and generating almost $59 billion in revenue (FY2021).
LOCATED IN PRIMARY RETAIL TRADE AREA
• The site is situated in a dense retail corridor that has exposure to ±30K VPD and is anchored by three national grocery tenants.
LONG-TERM NET LEASE WITH ATTRACTIVE INCREASES
• The Property offers 10 years remaining on a net lease with limited landlord responsibilities and 2.0% annual rent increases.