Hillcroft Medical Clinic | Sugar Land, TX – Offers Due: March 7, 2018

Offers Due: Wednesday, March 7, 2018

 

 

 

 

 

 

 

 

 

 

BGL Real Estate Partners has been retained by ownership to offer qualified investors the exceptional opportunity to acquire the Hillcroft Medical Clinic (the “Property” or “Building”). The Property, totaling approximately 40,531 rentable square feet, is located in Sugar Land, Texas, one of the most affluent and fastest growing cities in Texas. The Property is highly visible and strategically located in proximity to CHI St. Luke’s Health-Sugar Land Hospital, Memorial Hermann Surgical Hospital – First Colony, and Houston Methodist Sugar Land Hospital, providing convenient access for patients and physicians alike, as well as a dependable referral network.

The Property is 100% leased and occupied, with approximately 85% of the Building leased to Hillcroft Medical Clinic (HMC), a large multi-specialty practice that is comprised of twenty-eight (28) physicians covering fifteen (15) specialties. HMC was established in 1948 and offers Family Medicine, General Surgery, Internal Medicine, Cardiology, Endocrinology, Gastroenterology, OB/GYN, Neurology, Occupational Medicine, Rheumatology, Urology, Sports Medicine, and ENT. HMC offers a variety of on-site services for patient convenience including a state-of-the-art ACR-accredited radiology center, complete laboratory services, sleep center, and occupational health services, which include travel immunizations and workers’ compensation. Other specialties offered in the Building include pediatrics and adult family medicine, ophthalmology, and a pharmacy.

HMC’s radiology center is ACR-accredited and is one of the most comprehensive facilities in the Houston area. HMC offers X-ray, diagnostic ultrasounds, CT scans, bone density scans to screen for osteoporosis, vascular studies to screen for peripheral artery disease, and nuclear medicine imaging including cardiac stress tests. HMC’s radiology services are supervised by board-certified radiologists who review each study personally and provide fast, accurate reports to all of their physicians to ensure that patients get their results and diagnoses quickly and accurately. HMC offers MRI at their Houston office.

Investment Highlights

  • Premier Facility: Hillcroft Medical Clinic (HMC) is a 40,531 SF comprehensive multi-specialty building that was completed in 2007. Established in 1948, HMC, comprised of 28 physicians and 15 specialties, anchors the Building with 85% occupancy.
  • Below Market Rents: The existing lease rates at Hillcroft Medical Clinic are $18/SF/NNN which is well below Houston market rents for comparable buildings. A new Landlord will have the opportunity to increase rents at lease expiration which offers potential upside.
  • In-Network Contracts: Hillcroft Medical Clinic is in-network with Aetna Medicare Choice Plan, BCBS Medicare Advantage PPO, Care Improvement Plus, Humana Gold, and a number of other payors.
  • Strong Practice Financials:  Hillcroft Medical Clinic is very sound financially having generated over $35 million in net revenue in 2017, a sharp increase from the $34M and $31M in revenue generated in 2016 and 2015, respectively.
  • Strategic Location In Top Msa: The Property is well located in Sugar Land with convenient access to CHI St. Luke’s Health Sugar Land Hospital, Memorial Hermann Surgical Hospital First Colon, and Houston Methodist Sugar Land Hospital. The Property is located in the Houston – The Woodlands – Sugar Land MSA, the 5th largest in the country.
  • Acr-Accredited Radiology Center: At the subject Property, HMC offers comprehensive imaging services which include the following: CT Scan, nuclear medicine imaging, cardiac stress tests, X-ray, ultrasound, bone density scans, and vascular studies. HMC offers MRI at their Houston location.
  • Strong Demographics:  Nearly 228,867 people, or 11.6% of the population, that live within a 5-mile radius of the Property are aged 65 and older.

Offers Due:  Wednesday, March 7, 2018
Submit questions and offers to: Clinton J. Parker  |  cparker@bglco.com

View the Executive Summary for more information.

Bypass the online summary and directly execute the Confidentiality Agreement.

Christopher L. Stai, CPA
Managing Director
BGL Real Estate Partners
480.433.3494 cstai@bglco.com 
Clinton J. Parker
Managing Director
BGL Real Estate Partners
210.352.5832 cparker@bglco.com 
Andrew R. Larwood, Director
BGL Real Estate Partners
312.658.4756 alarwood@bglco.com 
Allen C. Inman, Director
BGL Real Estate Partners
312.658.4754 ainman@bglco.com 
Michael T. Peel, Associate
BGL Real Estate Partners
210.352.5832
mpeel@bglco.com 
Cody Marx
Client Services Specialist
+1 (414) 274-1636
Cody.Marx@cbre.com

 

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