Brown Gibbons Lang & Company | Real Estate Partners is pleased to exclusively offer for sale the fee-simple interest in Medical Center Ophthalmology Associates’ (“MCOA”) medical office building, as well as the affiliated Specialty Surgery Center (“SSC”). MCOA and SSC (the “Properties” or “Portfolio”) are located in San Antonio, Texas and within close proximity to each other, as well as to the South Texas Medical Center (“STMC”). STMC is one of the largest medical centers in Texas serving 38 surrounding counties. The Portfolio, which consists of approximately 35,610 square feet, has a projected Year-1 Net Operating Income of $951,271 with fixed annual rental escalations of 2.0%.
The medical office building for Medical Center Ophthalmology Associates was built in 2000 and consists of approximately 18,212 square feet. Considered the premier eye specialist practice in San Antonio, MCOA provides total vision care services at this location, which includes minimally invasive Lasik procedures, pediatric eye care, dry eye treatment, macular degeneration treatment and surgery, LenSx cataract surgery, ReSTOR, oculoplastic and facial plastic surgery. In addition, this flagship location for MCOA has an optical department offering a wide range of specialty products such as high quality frames, specialty lenses, dry eye products, and contact lenses to fit every lifestyle.
Built in 2003 and consisting of approximately 17,400 square feet, the Specialty Surgery Center is comprised of thirty-two physicians of various specialties, many of which are affiliated with Medical Center Ophthalmology Associates. While most surgical cases and practicing surgeons are of the ophthalmic variety, the surgeons admitting at SSC also perform gastro, ENT, orthopedic, podiatry, oral, and pain management procedures at the state-of-the-art outpatient facility. In 2014, there were over 13,000 procedures performed at SSC.
MCOA and SSC is a unique opportunity to acquire two (2) single-tenant net leased clinical properties that are home to established and renowned practice groups that have been providing comprehensive care to San Antonio and surrounding communities for over 30 years.
OPPORTUNITY HIGHLIGHTS
- The strategically located medical office building and ambulatory surgery center have a Year-1 NOI of $951,271.
- Ten (10) Year NNN leases with fixed annual rental escalations of 2%
- Specialty Surgery Center is a Physician-owned ASC aligned with 32 highly rated physicians offering a wide variety of surgical specialties.
- The Medical Center of Ophthalmology Associates is San Antonio’s largest physician-owned eye specialty care practice.
- The Properties are located within 3 miles of the South Texas Medical Center.
- STMC serves 38 counties and consists of forty-five medically related institutions, separate medical, dental and nursing schools, five higher educational institutions, twelve hospitals and five specialty institutions.
View the Executive Summary for more information.
Bypass the online summary and directly execute the Confidentiality Agreement
Call for Offers Date Reminder: Wednesday, October 14th, 2015
Submit Offers to: Clint Parker | cparker@bglco.com
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
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE