JLL is pleased to offer the opportunity to acquire American Surgery Center – San Antonio, a mission-critical single-tenant medical center located at 12838 Vista Del Norte, San Antonio, TX (the “Property” or “Asset”). The Asset is leased to American Surgery Center (the “Tenant”) and is operating on a 15-year absolute triple net lease with 10.5 years of term remaining, zero landlord responsibilities and three, five-year renewal options.
The asset was constructed as a build-to-suit for the Tenant in 2019 and operates as an Ambulatory Surgery Center (“ASC”), providing reduced costs, improved sanitation, and convenient scheduling versus a traditional surgery experience. The center is fully equipped with state-of-the-art technology to perform outpatient ophthalmic procedures in a number of specialties, including cataract surgery, cornea transplants, refractive lens exchange, and multiple glaucoma procedures. The Tenant operates as a subsidiary of Surgery Partners, a leading operator of surgical facilities and ancillary services with more than 180 locations nationwide.
Located just 9 miles north of downtown San Antonio, the 3rd fastest growing city in the US from 2021 – 2022, the Asset is situated in a densely populated, growing area with over 273K people in a 5-mile radius. The Tenant’s medical practice benefits considerably from being less than 5 miles from Methodist Healthcare’s main hospital campus, named the #1 best regional hospital by U.S. News and World Report and the largest hospital in the city by bed count. The Property is a short drive from major economic drivers, including San Antonio International Airport and North Star Mall, a luxury shopping center home to over 200 specialty stores. Wurzbach Pkwy (50K VPD), is adjacent to the Asset and connects it to the surrounding interstates and area.