Investment Highlights
- New, 10-Year Lease, With Nearly Full Term Remaining
- Corporate Guarantee with WellMed Medical Management, Inc.
- New Location, Recently Built and Opened in 2022
- Two, Five-Year Tenant Renewal Options
- Three Percent Rent Increases Every Three Years Throughout Base Term and Option Periods
- WellMed is a Multi-Billion Dollar Revenue Healthcare Company Serving the Senior Population Primarily in Texas and Florida
- Corpus Christi has a Strong Military Presence with Naval Air Station Corpus Christi, Naval Airport Waldron Field, Corpus Christi Army Depot, and Naval Airport Cabaniss Field
- In Addition to Military Personnel, Naval Air Station Corpus Christi and Corpus Christi Army Depot Together Employ More Than 5,600 Civilians and Contractors
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a WellMed in Sinton, TX. This opportunity offers a long-term corporate guaranteed lease with two, five-year tenant renewal options. This is a new location, recently built and opened in 2022.
WellMed is a multibillion-dollar revenue healthcare company serving the senior population and working hard to keep older adults healthy. Today, WellMed is a network of doctors, specialists and other medical professionals that specialize in providing care for more than 700,000 adults with over 18,000 doctors’ offices in Texas and Florida.
The Subject Property is part of the Corpus Christi metro area, offering a strong military presence with Naval Air Station Corpus Christi, Naval Airport Waldron Field, Corpus Christi Army Depot, and Naval Airport Cabaniss Field. In addition to military personnel, Naval Air Station Corpus Christi and Corpus Christi Army Depot together employ more than 5,600 civilians and contractors. Naval Air Station Corpus Christi and Corpus Christi Army Depot together generate an economic impact of $2.8 billion each year.
This WellMed is 28 miles north of Corpus Christi – home of Corpus Christi International Airport, Texas State Aquarium, Del Mar College with more than 12,000 students at two local campuses, Texas A&M University Corpus Christi Campus with a total enrollment of more than 9,300 students, Christus Spohn Hospital Corpus Christi with 158 staffed beds, and Corpus Christi Medical Center Bay area with more than 630 beds and recognized as America’s 50 best hospitals.
