- Double Net (NN) Lease with Five Years Remaining on Base Term
- Two, Five-Year Tenant Renewal Options with 2.5 Percent Annual Rent Increases in Base Term and Option Periods
- Property was Remolded in 2016 with $250,000 in Renovations
- WellMed is a Multibillion-Dollar Revenue Healthcare Company Serving the Senior Population Primarily in Texas and Florida
- Population Nearly 250,000 Within a Five-Mile Radius of Property
- Surrounding National Retailers Include Ikea, Walmart Supercenter, Kohl’s, HomeGoods, Ross, Burlington, Petco, Aldi, Kroger, Planet Fitness, Rent-A-Center, Family Dollar, Dollar Tree, Ulta Beauty, Olive Garden, Blaze Pizza, Chick fil A, Dunkin Donuts, Taco Bell, Walgreens, CVS and Many More
Marcus & Millichap is pleased to present the opportunity to acquire a newly renovated WellMed in Grand Prairie, Texas. This WellMed offers a long-term, double net lease which currently has five years remaining on the base term. The tenant has two, five-year renewal options with 2.5 percent annual rent increases, throughout the base term and option periods. In 2016, approximately $250,000 worth of renovations was put into the 4,000-square-foot building.
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 16,000 doctors’ offices in Texas and Florida.
This property is conveniently situated east of Fort Worth and west of Dallas and is part of the Dallas-Fort Worth metro area, which is also the fourth-most populous metro in the nation with a total population of nearly 7.5 million residents. The immediate area has strong demographics and traffic counts. The population is nearly 250,000 within a five-mile radius of the Subject Property. The population growth in recent years ranks among the highest in the U.S. for a major metro.
The property is within walking distance to a retail corridor off Pioneer Parkway with 31,000 vehicles per day. Surrounding national retailers include Ikea, Walmart Supercenter, Kohl’s, HomeGoods, Ross, Burlington, Petco, Aldi, Kroger, Planet Fitness, Rent-A-Center, Family Dollar, Dollar Tree, Ulta Beauty, Olive Garden, Blaze Pizza, Chick fil A, Dunkin Donuts, Taco Bell, Walgreens, CVS and many more.
This property is five miles from Dallas Baptist University with an enrollment of 5,000 students, and six miles from the University of Texas at Dallas with an enrollment of more than 29,500 students. In addition, this WellMed is 16 miles south of the Dallas/Fort Worth International Airport, which is the primary airport serving the Dallas–Fort Worth metro and the fourth busiest airport in the world.
Broker of Record
Broker of Record
P: (972) 755-5200
Lic #: 9002994