Overview
Cushman & Wakefield’s Central Texas Capital Markets team is pleased to present to the market Vista Corporate Center in San Antonio, Texas, a Creative Class A trophy office /medical building constructed in 2017. The 157,472 square foot property is 100% net leased to Galen College of Nursing, a subsidiary of HCA (Moody’s: Baa3). The project provides investors the opportunity to acquire a high-quality, low-risk project with a long-term lease in place and annual rent escalations. Vista Corporate Center is ideally located in the heart of the Northwest market - one of the most dynamic and fastest growing submarkets in the San Antonio region and has been one of most active leasing submarkets through the last year.
This offering presents a compelling opportunity to acquire a recently developed, Class A office asset in a highly desirable location with the security of a long-term, contractually increasing cash flow.
Investment Highlights
Long-term Net Lease to Investment Grade Tenant
- Significant capital contribution by previous tenant and institutionally owned & maintained facility with limited additional capital required
- 100% leased through September 2036
- Contractual escalations provide for a steadily increasing income stream
- Excellent Tenancy — HCA Healthcare has an investment grade Moody’s rating of Baa3
- Strong medical tenancy and credit of the tenant is enhanced by the true peer project occupancy exceeding 90%
- Long-term stability is enhanced by the tenant’s significant commitment to the immediate area and region
Advantageous Northwest Location
- Superior quality asset located in the heart of San Antonio’s high growth Northwest submarket at Loop 1604 and IH-10
- The presence of corporate Fortune 500 companies such as Valero, NuStar, United States Automobile Association (USAA), Acelity, Medtronic and Security Service Federal Credit Union in the immediate area elevates the location from a professional locale and attests to the long-term viability of the location
- Vista Corporate Center is within minutes of desirable amenities including Dominion Country Club, Fair Oaks Country Club, world-class shopping, two premier La Cantera Golf courses, upscale resorts and hotels, and fitness and wellness centers
- With expansive frontage on IH-10, Vista Corporate Center is a highly accessible and visible location
- Close proximity to the Northwest submarkets’ desirable executive housing including The Dominion, Fair Oaks Ranch, Anaqua Springs, Estancia and Cordillera Ranch, as well as the bedroom community of Boerne which houses a large number of top corporate executives
Outstanding Architectural Design and Construction Quality
- High profile, Class A, five-story state-of-the-art facility with 157,472 square feet of rentable area
- High quality interior and exterior finishes with many desirable amenities for a high-density user including floor-to-ceiling glass walls and structured parking
- Designed and constructed as a multi-tenant or single-tenant building, Vista Corporate Center is fully leased by Galen College of Nursing (HCA) because of its sleek design, efficient floor plates, impressive porte cochère entrance, nearby amenities, and above-market parking ratio
- Attractive yet functional development that carefully integrates offices uses into a unique naturally landscaped setting
- Highly amenitized facility including climate-designed open space, large common areas for energizing and collaboration, Bistro café, fitness center with locker rooms, showers and state-of-the art fitness equipment and half basketball court, and outdoor seating
- Tranquil, park-like environment featuring contemporary concepts in green scaping, landscaped plazas, a green wall and rain wall, a lush garden, filtered light and natural views
- Exceptional detail-oriented design that incorporates the natural setting and contemporary desires of medical tenants
