Memorial Hermann - Alvin, TX

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in a freestanding single-tenant Memorial Hermann Health Center located at 210 TX-35 Loop, in Alvin, TX (“Property” or “Asset”). The Property is being redeveloped by Memorial Hermann Health System (the “Tenant”) and will operate on a rare 13-year net lease with attractive rental increases in year 2 and every 5-years thereafter and four, five-year renewal options.

The Tenant is investing over $15 million into the site to redevelop an old Office Depot into a free-standing 24-hour emergency department with additional services, including specialty physicians, sports medicine and rehabilitation, and outpatient imaging.

Memorial Hermann Health System, a distinguished not-for-profit healthcare provider, is the largest health system in southeast Texas with 4,233 licensed beds and a dedicated workforce comprising 33,000+ employees distributed across 320 care locations. In June of 2023, Moody's improved Memorial Hermann Health System's credit rating from A1 to Aa3 due to its strong market position and investments to meet the high demand in a growing region.

Located in a high-traffic shopping center with 1.8M annual visitors, the Asset is surrounded by national retailers like Home Depot, Olive Garden, and Walmart. It benefits from excellent connectivity via Alvin Bypass (40K VPD) and E Hwy 6 (37K VPD), linking Alvin to Houston and the surrounding area. The upcoming expansion of Grand Parkway 99 will improve access to League City and I-45, expanding the Property’s patient base. Alvin, TX, is experiencing historic growth, with 9,000 homes planned or currently under construction.

This unique and rare opportunity allows investors to acquire a top credit tenant with newly renovated, well-invested real estate in a leading market.