Texas Healthcare 200 Concord Plaza, Suite 800 San Antonio, TX 78216 [email protected] T 210.507.1120 F 210.340.1827 25
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12501 JUDSON TEX AS HEALTHCARE INVESTMENT PROPERTIES CBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s). Your receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc. If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc. This Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner. © 2018 CBRE, Inc. All Rights Reserved. 2 TABLE OF CONTENTS 01. Executive Summary 02. Property Description CONTACT 03. Location Overview SCOTT HERBOLD First Vice President CBRE Investment Properties - Healthcare +1 210 507 1120 [email protected] 04. Market Overview 05. Investment Overview 06. Process & Offer Instructions 3 01. EXECUTIVE SUMMARY 4 EXECUTIVE SUMMARY OFFERING PRICE Best Offer BUILDING SIZE 10,136 SF YEAR BUILT 1985 OCCUPANCY 50% THE OFFERING INVESTMENT HIGHLIGHTS CBRE’s Investment Properties Group is pleased to exclusively present the Judson Office Building in San Antonio, Texas for purchase. The Judson Office Building is a 10,136 Strategically located near the Northeast Methodist Hospital campus, the Judson square-foot freestanding medical and professional center strategically located across Office Building presents an excellent opportunity for investors to acquire a from HCA’s Northeast Methodist Hospital. The property provides ample parking with three well-parked office or medical office property below replacement cost and create additional value through lease-up of the remaining vacancy. parking lots that include 18 covered parking spaces for tenants and visitors. > Excellent User Investment Opportunity The Judson Office Building is strategically located in San Antonio’s northeast submarket just off Interstate 35. In addition to Northeast Methodist Hospital, other economic drivers to the area include Morgan’s Wonderland, Northeast Independent School District’s Heroes Stadium > Strategic Location Near Northeast Methodist athletic complex, Toyota Field Soccer League Stadium (home of San Antonio FC of the United Hospital Campus Soccer League), STAR Soccer Complex, The Forum at Olympia Parkway regional power center, Joint Base San Antonio – Randolph, Northeast Lakeview College and the future site of IKEA. > Value-Add Lease-Up Opportunity Well-Below Replacement Cost The northeast submarket is characterized by a growing number of middle-class neighborhoods served by I-35 and Loop 1604 (212,000 and 121,000 daily vehicles in 2016). The rapid > Excellent Accessibility with Ingress/Egress to commercial and residential growth along northeast San Antonio’s I-35 corridor all the way to I-35 via Toepperwein and Judson Roads Austin reflects its desirability as the gateway to San Antonio. Population within three miles is 108,025 with an average household income of $73,673. The daytime population of 88,517 indicates the heavy residential nature of the immediate area, boding well for service tenants > Ample Parking of 6.4 per 1000 Square Feet such as healthcare and retail. includes 18 Covered Spaces 5 02. PROPERTY DESCRIPTION 6 PROPERTY DESCRIPTION BUILDING SPECIFICATIONS Judson Office Building is an elevated two-story office building BUILDING NAME Judson Medical Building built into a hill to provide covered parking at street level beneath ADDRESS 12501 Judson Road, San Antonio, TX the Property and two additional surface parking lots at the same TENANCY % 50% elevation as the first floor of the building. Each floor contains BUILDING SIZE 10,136 SF 5,068 square feet and an elevator connects the street level parking YEAR BUILT 1985 with the two tenant floors. LAND AREA (ACRES) 0.8752 Acres PARCEL NUMBER 05049-206-0010 ZONING OCL 65 Total Surface Spaces (6.4:1000 SF); 18 Covered Parking PARKING Spaces OWNERSHIP Fee Simple Interest FOUNDATION/STRUCTURE Concerete Piers EXTERIOR WALLS Stucco HEATING & COOLING (HVAC) Package Units for HVAC ELEVATORS & STAIRS One Passenger Elevator Cab and One Stairwell FLOORING Tile, Carpet and Faux Wood in Tenant Spaces CEILINGS 2-Foot by 4-Foot Suspended Acoustic Tiles FIRE SAFETY/SPRINKLER Overhead Sprinklers 7 INVESTMENT HIGHLIGHTS Excellent User Investment Opportunity – With two tenants occupying 50% of the 10,136 square feet, an investor can occupy the property immediately. Strategic Location Near Northeast Methodist Hospital Campus – The Property sits across the street from Northeast Methodist Hospital only one block off Interstate 35 with 212,000 vehicles daily. Healthcare, retail, office and residential properties have been infilling around the hospital over the past few years. Value-Add Lease-Up Opportunity Well-Below Replacement Cost – With few blocks of vacant office space in Interstate 35/Loop 1604 area, an investor may acquire the property well-below replacement cost and significantly enhance value by leasing current vacancies. Excellent Accessibility – The Property benefits from excellent access to I-35, with both on-ramp and off-ramp connections via both Judson and Toepperwein Roads Ample Parking of 6.4 per 1000 Square Feet includes 18 Covered Spaces – The 65 parking spaces provide a parking ratio of 6.4 spaces per 1000 square feet, with additional parking along Woodsrim Street. There are 18 covered parking spaces, all with covered access to the Property. 8 SITE PLAN 9 FLOOR PLANS 10 FLOOR PLANS 11 FLOOR PLANS 12 03. LOCATION OVERVIEW 13 LOCATION LOCATION OVERVIEW OVERVIEW Northeast San Antonio Submarket This portion of San Antonio’s northeast submarket is marked by stable middle-class neighborhoods, significant commercial and residential growth and serves as San Antonio’s gateway for those driving south on I-35 from Austin and Dallas. The traffic count on this section of Interstate 35 is 212,000 vehicles daily (2016). There are 108,025 people living within three miles of the Property with an average household income of $73,673. The three-mile daytime population