Brown, Gibbons, Lang & Company | Real Estate Partners is pleased to exclusively offer for sale the fee-simple interest in the Texas Orthopaedic & Sports Medicine Center (the “Property” or “Facility”). The Property consists of approximately 36,804 rentable square feet and is conveniently located in Tomball, Texas, an affluent suburb in North Houston with a population of 763,000 residing within the Tomball area.
The Property is being offered with an initial Net Operating Income of $1,177,728 and favorable fixed annual rental escalations of 2%. Upon the sale of the Property, Texas Orthopaedic & Sport Medicine (the “Practice” or “TOSM”) will lease the Facility for twelve (12) years, which will be structured as a triple-net lease. This is an exceptional opportunity to acquire a single-tenant net-leased investment with an established specialty practice that offers comprehensive orthopaedic, sports medicine, and pain management care to its patients. Furthermore, the practice has consistently demonstrated a strong EBITDAR rent coverage ratio (2015: 5.60x), providing a durable income stream over the 12- year lease term.
Texas Orthopaedic & Sports Medicine is the premier orthopaedic practice in the North Houston area serving over 4,700 patients in the first quarter of 2016. The Facility is equipped with advanced imaging equipment including three (3) X-ray machines and a 1.5 Tesla MRI scanner. After outgrowing its original location, TOSM completed the state-of-the-art 4-OR Tomball facility in 2012, incorporating unique design elements that support efficient patient and healthcare provider flow within the Facility and overall high quality care and comfort for its patients, visitors, and staff.
Opportunity Highlights
- Modern state-of-the-art outpatient surgical center leased to an established physician-owned orthopaedic practice
- Twelve (12) year NNN lease with an initial Net Operating Income of $1,177,728 and annual fixed escalations of 2%
- TOSM‘s Tomball location is strategically located in proximity to the Tomball Regional Medical Center, a full-service 357-bed hospital
- TOSM also serves The Woodlands and surrounding areas with its second facility that is located on the Memorial Hermann hospital campus
- Physician-led surgical practice that is aligned with highly-rated physicians offering a wide variety of clinical care and patient resources
Call for Offers Date: Wednesday, July 20th, 2016
Submit questions and offers to: Clinton Parker | cparker@bglco.com
View the Executive Summary for more information.
Bypass the online summary and directly execute the Confidentiality Agreement
Contact Information
Christopher L. Stai, CPA | Managing Director
Brown Gibbons Lang | Real Estate Partners
Direct: 949.936.2665 | cstai@bglco.com
Clinton J. Parker | Managing Director
Brown Gibbons Lang | Real Estate Partners
Direct: 210.352.5832 | cparker@bglco.com
Randy Egenbacher, CCIM | Senior Director
Brown Gibbons Lang | Real Estate Partners
Direct: 210 352 5832 | regenbacher@bglco.com
Marc M. Flynn | Associate
Brown Gibbons Lang | Real Estate Partners
Direct: 210 352 5832 | mflynn@bglco.com
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