Nexus Medical Consulting
| Price | $12,262,000 |
| Cap Rate | 6.30% |
| NOI | $772,464 |
| Lease Term | 12 Years |
| Lease Type | Net, With Tenant Responsible For Taxes, Insurance, And Maintenance, Excluding Structure |
| Rental Increases | 1.75% Annual Rental Increases |
| Year Built | 2020 |
| Building Size | 36,450 SF |
| Lot Size | 4.16 Acres (181,210 SF) |
| Status | Available |
| Lead Broker Information | Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
RARE SINGLE TENANT NET LEASE TO CORPORATE HEALTHCARE COMPANY IN INCOME TAX FREE STATE
» Long-term lease to Nexus Medical Consulting, the healthcare industry’s leading national independent clinical review and utilization management organization
» Nexus manages a panel of over 1,000 esteemed board-certified physicians and provides tens of thousands of reviews each year
» Nexus operates nationwide and maintains licensure in every state
NEW CORPORATE HEADQUARTERS – CLASS A OFFICE BUILDING
» Location will be home to the corporate headquarters and supporting operations
» 36,450-square-foot Class A office building
» Large 4.16-acre parcel with ample parking
» High-quality construction scheduled to be completed in late 2019
HIGH-TRAFFIC LOCATION IN DENSE CORRIDOR
» Located on Enterprise Avenue/Schertz Parkway (14,644 AADT), the property enjoys immediate access to Exchange Avenue (22,655 AADT), which serves as the frontage road for southbound traffic on Interstate 35, which experiences a traffic volume of 159,737 vehicles per day near the property
» Immediately adjacent to the Baptist Health System’s 50-bed Baptist Emergency Hospital
» Near the Schertz Parkway Professional Plaza, a master planned 58,000-squarefoot medical and professional office park that has the city’s largest concentration of medical offices
» Within walking distance of planned medical developments
» Since 2011, Schertz has seen a doubling of its healthcare industry
INCREDIBLY STRONG DEMOGRAPHICS IN GROWING MARKET
» Adjacent to Amazon, the city’s largest private employer, with 1,256 employees
» Average household income of $100,201 within a three-mile radius
» 130,132 residents living within a five-mile radius
» The population is expected to increase more than 10% by 2023 within one-, three-, and five-mile radii
Property Description
The property is in a high-traffic commercial and residential area just off of Interstate 35, the primary highway through the San Antonio–New Braunfels MSA. Located on Enterprise Avenue/Schertz Parkway (14,644 AADT), the property enjoys immediate access to Exchange Avenue (22,655 AADT), which serves as the frontage road for southbound traffic on Interstate 35 (159,737 AADT). The property is conveniently located in a prominent medical area and is immediately adjacent to the Baptist Health System’s 50-bed Baptist Emergency Hospital. Additionally, Schertz’s largest concentration of medical offices is situated on the opposite side of Interstate 35 at the Schertz Parkway Professional Plaza, a medical and professional office park. The project houses a number of medical tenants which include pediatricians, endocrinologists, obstetricians, dentists, audiologists, and radiologists. Schertz is home to more than 130,000 square feet of hospital and clinic space and over 70 healthcare offices. Since 2011, Schertz has seen a doubling of its healthcare industry and has added over 37 new medical offices, including a new state-of-the-art hospital, eight physician offices, eight dentistry facilities, and two new assisted living facilities. The healthcare industry in Schertz is still growing, and more medical developments are planned or under construction, including medical offices for Brown Retina Institute within walking distance of the property.
Centrally located approximately midway between downtown San Antonio and downtown New Braunfels, the property is supported by a strong customer base. Located in Schertz’s largest industrial area, the property is close to major employers, including Amazon’s fulfillment center. With 1,256 employees, Amazon is the city’s largest private employer. Other notable employers in the area include HD Supply (588 employees), Brandt (437 employees), and FedEx (475 employees). Additionally, the property is surrounded by densely populated residential neighborhoods with affluent demographics; the average household income within a three-mile radius is $100,201, and 130,132 residents live within a five-mile radius. Moreover, the region is growing rapidly, and the population is expected to increase more than 10% by 2023 within one-, three-, and five-mile radii.
