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117 Gaslight Medical Parkway, Lufkin, TX 121 Gaslight Medical Parkway, Lufkin, TX 125 Gaslight Medical Parkway, Lufkin, TX 525 N Brentwood Dr, Lufkin, TX
Woodland Heights Medical Office Portfolio
Asset ClassHealthcare Facility, Office, Retail
% Leased100%
Cap Rate: 8.5%# Buildings: 4Deal Size: $12.8 MAccess Data Room
AVAILABLE INDIVIDUALLY OR AS A PORTFOLIO | 4 ASSETS | 5.4 YEARS OF WALT | $1.1M NOI
overview of deal

Overview

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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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
  • $621,000 of TI funded across the Portfolio in 2019
  • Adjacent to 149-bed Woodland Heights Medical Center Hospital
  • Limited Landlord responsibilities
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117 Gaslight Medical ParkwayLufkin, TX 75904

Sales Team

Coler YoakamSenior Managing Director(469) 232-1982coler.yoakam@jll.com

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Listing provided by Revere CRE