Xpress Wellness Urgent Care1 340 S George Nigh Expressway McAlester, OK 74501
REPRESENTATIVE IMAGE 2 SANDS INVESTMENT GROUP EXCLUSIVELY MARKETED BY:
KAVEH EBRAHIMI Lic. # 01896322 310.853.1426 | DIRECT [email protected]
11900 Olympic Blvd, Suite 490 Los Angeles, CA 90064 844.4.SIG.NNN www.SIGnnn.com
In Cooperation With Commercial Oklahoma, Inc. BoR: Matt Weiss – Lic. #176169 3 SANDS INVESTMENT GROUP TABLE OF CONTENTS
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INVESTMENT OVERVIEW LEASE ABSTRACT PROPERTY OVERVIEW AREA OVERVIEW TENANT OVERVIEW Investment Summary Lease Summary Location, Aerial City Overview Tenant Profile Investment Highlights Rent Roll & Retail Maps Demographics
© 2021 Sands Investment Group (SIG). The information contained in this ‘Offering Memorandum’, has been obtained from sources believed to be reliable. Sands Investment Group does not doubt its accuracy; however, Sands Investment Group makes no guarantee, representation or warranty about the accuracy contained herein. It is the responsibility of each individual to conduct thorough due diligence on any and all information that is passed on about the property to determine its accuracy and completeness. Any and all projections, market assumptions and cash flow analysis are used to help determine a potential overview on the property, however there is no guarantee or assurance these projections, market assumptions and cash flow analysis are subject to change with property and market conditions. Sands Investment Group encourages all potential interested buyers to seek advice from your tax, financial and legal advisors before making any real estate purchase and transaction. REPRESENTATIVE IMAGE SANDS INVESTMENT GROUP
4 INVESTMENT SUMMARY
Sands Investment Group is Pleased to Present Exclusively For Sale the 3 , 600 SF Xpress Wellness Urgent Care Located at 340 S George Nigh Expressway in McAlester, OK. This Deal Includes a Brand New Construction, Providing For a Unique Investment.
OFFERING SUMMARY
PRICE $2,013,000
CAP 6.65%
NOI $133,860
PRICE PER SF $559.16
GUARANTOR Corporate
PROPERTY SUMMARY
ADDRESS 340 S George Nigh Expressway McAlester, OK 74501 COUNTY Pittsburg BUILDING AREA 3,600 SF
LAND AREA 0.54 AC BUILT 2020 XPRESS WELLNESS URGENT CARE 5 HIGHLIGHTS
§ Brand New Construction Xpress Wellness Urgent Care § In November 2018, Latticework Capital Management, a Dallas Based Private Equity Group, Partnered With Xpress Wellness Urgent Care Resulting in Additional Capital For Continued § Absolute Triple Net (NNN) Lease With Zero Landlord Growth For the Concept; Read More Here Responsibilities - Three ( 5 ) Year Option Periods and 1 . 25% Annual Rental Increases Beginning Year 3 § Latticework Capital Management Has Broad Experience Across the Healthcare Ecosystem Having Completed Over 85 § Corporate Guarantee From Xpress Wellness Holdings, LLC Transactions Across a Diverse Array of Healthcare Subsectors Representing Over $ 1 . 5 Billion of Equity Investments § Located Directly on S George Nigh Expressway With an Average of 27, 298 VPD § Service Lines Capture a Wide Range of Patients From Urgent Care, Primary Care, Occupational Medicine and Workers Comp § Xpress Wellness is Open 7 Days a Week Offering In- Network Providers, Online Check- In, Virtual Visits, Including Telemedicine § “ Retailization” of Healthcare - Retail Focused Model Maximizes and Ready to Treat Non- Life- Threatening Injuries and Illnesses Patient Convenience and Comfort and Creates Synergies With Nearby Tenants § Xpress Wellness Urgent Care is the Largest Urgent Care Operator in Secondary Markets in Oklahoma With Recent Expansion Into § Presence Within Smaller Communities Makes Xpress Wellness a the Kansas Market Rising Independent Provider in Rural Markets
§ Founded in 2014, Xpress Wellness Currently Has Over 19 § Neighboring Tenants Include: Walmart Supercenter, Lowe’s Home Locations Across Oklahoma and Kansas With Plans to Develop Improvement, Tractor Supply Co, Hibbett Sports, Discount Wheel Additional Clinics in 2021 & Tire, Murphy USA, Exxon, Valero, Goodwill, PetSense, Taco Bell, Arby’s, Pizza Hut, Wendy’s and Many More § Virtual Visits, Including Telemedicine, Quickly and Proficiently Expand the Xpress Wellness Operating Model Beyond Traditional Brick and Mortar LEASE SUMMARY6
TENANT Xpress Wellness Urgent Care
PREMISES A Building Consisting of 3,600 SF
LEASE COMMENCEMENT February 15, 2021
LEASE EXPIRATION February 14, 2036
LEASE TERM ~15 Years Remaining
RENEWAL OPTIONS 3 x 5 Years
RENT INCREASES 1.25% Annually – Beginning Year 3
LEASE TYPE Absolute Triple Net (NNN)
USE Medical
PROPERTY TAXES Tenant’s Responsibility
INSURANCE Tenant’s Responsibility
COMMON AREA Tenant’s Responsibility
ROOF & STRUCTURE Tenant’s Responsibility
REPAIRS & MAINTENANCE Tenant’s Responsibility
HVAC Tenant’s Responsibility
UTILITIES Tenant’s Responsibility
SQUARE ANNUAL RENT FOOTAGE BASE RENT PER SF
3,600 SF $133,860 $37.18 REPRESENTATIVE IMAGE 7
OKLAHOMA CITY 8 E Wade Watts Ave
Expy
S George Nigh
E Comanche Ave 9
Carl Albert Pkwy S George Nigh Nigh George S Expy MCALESTER | PITTSBURG COUNTY | OK 10 McAlester is a city in Pittsburg County, Oklahoma. It is the county seat of Pittsburg County. It is currently the largest city in the Choctaw Nation of Oklahoma, followed by Durant. McAlester is the premier trade hub for southeast Oklahoma. Communities in southeast Oklahoma rely on McAlester for employment, retail, and healthcare, creating a focal point for development opportunities. For those products and services in limited supply in rural Oklahoma, McAlester has convenient access to the markets in Tulsa, Oklahoma City, and Dallas. The City of McAlester had a population of 18,406 as of July 1, 2020. Kiamichi Technology Center-McAlester and Dixon College are the local institutions of higher education. East Central University, Oral Roberts University and Tulsa Community College are also located nearby.
The McAlester economy continues to thrive as new investments opens additional opportunities for regional residents. Several of local industries have expanded, the downtown is witnessing renewed energy and interest, and the highway commercial district is set to welcome a new shopping center in early 2021 which is expected to generate 312 full-time and part-time jobs. Some of the principal employers of the City are McAlester Army Ammunition Plant (2,500 Employees), McAlester Regional Health Center (800 Employees), McAlester Public Schools (350 Employees), Walmart (300 Employees), Oklahoma State Penitentiary (300 Employees), Spirit Aerospace, Inc. (350 Employees), City of McAlester (214 Employees), Choctaw Casino (150 Employees), Berry Plastics (200 Employees) and Lowe's (140 Employees).
The city is nestled in the foothills of the Ouachita Mountains, the state’s only national forest. The City maintains numerous parks, recreational areas, and public facilities to benefit the health and quality of life for residents and visitors. The region’s many natural amenities include Robber’s Cave State Park, the hideout of the Belle Star, the 100,000-acre Eufaula Lake, and the Talimena National Scenic Drive. McAlester’s Downtown and Old Town are bustling with flavourful architecture. Local festivals such as the Bluegrass Festival, the Italian Festival and the Pittsburgh County Free Fair are local attractions. The Oklahoma Prisons' Historical Museum and the Krebs Heritage Museum have a large number of souvenirs on display. The Arrowhead State Park Golf Course has provisions for a quick game.
PITTSBURG COUNTY COURTHOUSE OUACHITA MOUNTAIN MCALESTER, OK 11
Carl Albert Pkwy (13,053 VPD)
(26,298 VPD)
Expy
S George Nigh
3 MILES 5 MILES 10 MILES
POPULATION 18,106 21,942 27,314
AVERAGE HH $59,765 $61,588 $64,344 INCOME 12 XPRESS WELLNESS URGENT CARE TENANT PROFILE
Xpress Wellness Urgent Care is a private urgent care company based in Oklahoma, that is passionate about helping others. Our 19 Midwest locations are led by the Chief Medical Officer, Dr. Scott Williams. As a graduate of Oklahoma State University College of Osteopathic Medicine, Dr. Williams started in family practice 1999, and has grown his vision of affordable access to care throughout the area. He leads a team of experienced medical providers who share the same DNA of helping patients by providing exceptional care.
At all of the 19 locations of Xpress Wellness Urgent Care in Oklahoma and Kansas, we offer urgent care services for non life-threatening injuries. That's not all the company does for our patients. Our dedicated professionals take pride in providing comprehensive care that can help our patients recover from their illness or injury. We also take pride in offering a wide range of services, from primary adult care to pediatric services, as well as work-related injuries and sports-related injuries.
Accidents and illnesses happen at the most inopportune times, so it’s important to have an urgent care provider that you can depend on. Our urgent care clinics are prepared to handle non-life-threatening injuries and illnesses whenever the need arises. Another great aspect of our walk-in clinic is that you can actually check-in online to speed up the process. It's easy, convenient, and makes for a much better experience than your typical medical clinic. This option is available for all of our clinics, seven days a week!
COMPANY TYPE FOUNDED # OF LOCATIONS HEADQUARTERS WEBSITE Private 2014 19 Enid, OK xpresswellnessurgentcare.com REPRESENTATIVE IMAGE SANDS INVESTMENT GROUP 13 CONFIDENTIALITY AGREEMENT
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Sands Investment Group and should not be made available to any other person or entity without the written consent of Sands Investment Group.
This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property.
The information contained herein is not a substitute for a thorough due diligence investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.
The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, Sands Investment Group has not verified, and will not verify, any of the information contained herein, nor has Sands Investment Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
By receipt of this Memorandum, you agree that this Memorandum and its contents are of confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose its contents in any manner detrimental to the interest of the Owner. You also agree that by accepting this Memorandum you agree to release Sands Investment Group and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property. EXCLUSIVELY MARKETED14 BY:
KAVEH EBRAHIMI Lic. # 01896322 310.853.1426 | DIRECT [email protected] In Cooperation With Commercial Oklahoma, Inc. BoR: Matt Weiss – Lic. #176169
Xpress Wellness Urgent Care 340 S George Nigh Expressway McAlester, OK 74501