Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Property Description

JLL (“Broker”) has been exclusively retained to offer to qualified investors the opportunity to purchase a 100 percent fee simple interest in the Legacy Oaks Medical Office Complex in San Antonio, Texas (the “Property” or “Buildings”). The Property is located on Fredericksburg Road near the high traffic interchange of Interstate 10 and Loop 410, and directly adjacent to the 900-acre South Texas Medical Center, the region’s premier medical district comprised of over 75 medically related institutions and 12 hospitals.


Situated on over 13.6 acres, Legacy Oaks consists of a prominent six-story medical office tower and six plaza buildings. With a total of 227,657 rentable square feet and current occupancy at 80 percent, the Property offers an attractive value-creation opportunity for the purchaser of this scalable asset. Through strategic leasing efforts and over $1 million of recent capital investments, the current ownership has created a solid foundation for the Property’s continued long-term success.

Investment Highlights

Highly sought after medical office building complex located on Fredericksburg Road, adjacent to the South Texas Medical Center

  • Credit tenants including Baptist Health System, MEDNAX, BB&T, EEOC (GSA) and the Center for Healthcare Services
  • Weighted average lease term of 4.9 years
  • Substantial economic upside through lease-up and continued transition to medical uses
  • Medical tenancy accounts for 73% of current occupancy
  • 100% of rent was collected from May 2020 until April 2021 demonstrating the financial strength of the tenancy and the asset’s resiliency through the COVID-19 pandemic
  • Strategic healthcare location adjacent to the 900 acre South Texas Medical Center
  • Superior visibility and access from a major seven-lane road with 1,300 feet of frontage
  • Substantial recent capital improvements in excess of $1.0M and over $9.0 million since 2012
  • Acquisition well below replacement cost
  • Convenient access to and from the Interstate 10 and Loop 410 interchange with traffic counts exceeding 435,000 VPD
  • Top 25 MSA with over 2.6 million residents and projected growth of 8% in the next 5 years
  • Population of approximately 383,000 within a 5-mile radius
  • Excellent tenant mix with primary care, pediatrics, rheumatology, ophthalmology, optometry, radiology, pain management and outpatient rehabilitation
  • Over 13.6 acres of infill land
Last Updated Date: 03 Jun 2021
Brian Bacharach
Brian Bacharach
Managing Director, Capital Markets
John Taylor
John Taylor
Managing Director, Capital Markets
License details
TX-466052

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Last Updated Date: 03 Jun 2021

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