CareNow | NNN Lease

Description:

Lease & Location
• YEAR BUILT: 2016 upgraded built-to-suit construction
• LONG TERM LEASE: 7.5 Years remaining on an initial 15 Year Lease
• AGGRESSIVE INCREASES: 10% Increases Every 5 Years
• ZERO LANDLORD RESPONSIBILITIES: Absolute NNN
• STRONG MEDICAL SYNERGY: Located 1.5 miles from Santa Rosa Hospital & ER Centers.
• PRIME LOCATION: Strategically positioned along I-35 Frontage Road insuring high visibility and easy accessibility for patients. Located near Sam’s Club, Target, Lowes, Kroger, H-E-B Distribution Center, San Marcos Outlet Malls, a premier shopping destination attracting 14 million annual visitors, etc.
• HIGH TRAFFIC EXPOSURE: Benefits from exceptional visibility on Interstate 35 a major Texas artery with a daily traffic count of 143,995 vehicles, connecting major metropolitan areas.
• DENSE RESIDENTIAL MARKET: Surrounded by established, high-density single-family neighborhoods, and multifamily communities, providing a substantial and affluent customer base.
• LARGE CUSTOMER BASE: Draws from a catchment area of +123,000 residents within a ten-mile radius, ensuring a steady stream of potential patients.
• H-E-B DISTRIBUTION CENTER: Located in proximity to H-E-B distribution center with over 4.5 million square feet of warehouse space.
• RAPIDLY EXPANDING EDUCATION MARKET: Home to Texas State University, fourteen primary and grade schools with a combined enrollment exceeding 12,700 students are situated within a 5-mile radius, the student population is projected to double to nearly 29,000 by 2031.
• STRONG COMMERCIAL BASE: Over 10.6 million square feet of industrial and office space, and 2.3 million square feet of retail and restaurant space are located within a 5-mile radius, supporting a robust daytime population of over 9,000 employees across 1,700 businesses.

Tenant Highlights
• CORPORATE GUARANTEE: Guaranteed by HCA Health (NYSE), a trusted publicly traded company, operating 180 hospitals and 2,300 healthcare centers in the United States & United Kingdom with over $63 Billion in Revenue LTM.
• $56.7B URGENT CARE MARKET: The U.S. urgent care centers market size was valued at $56.7B in 2022 and is expected to expand at a compound annual growth rate (CAGR of 10.99% from 2023 to 2030. The growth can be attributed to the delivery of rapid services, affordability and short wait times compared to primary care physicians

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