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|Current / Passing Rent||
|Remaining Term||6 years, 10 months|
|Tenant||CFM Interests, LTD|
JLL is pleased to offer for sale the fee-simple interest in a NNN single-tenant retail healthcare facility leased to CMF Interests, LTD d/b/a Texas Emergency Care Center. The asset is situated adjacent to Atascocita Town Center alongside numerous national retailers and located within the city limits of Humble, TX (Houston MSA). The investment presents an opportunity to acquire a modern construction, medical office property located within a dense retail trade area and healthily supported by an affluent demographic base.
•The tenant is on an absolute NNN lease with 3.0% annual rental increases, and the tenant reimburses the landlord for 100% of the operating expenses, insurance costs, and common area maintenance (CAM) charges
•The asset is located on the southern perimeter of Atascocita Town Center, a major shopping center comprised of a plethora of national retailers within eastern Humble
•FM 1960 Road East (31,000 VPD) helps draw a strong consumer base to the immediate market, possessing notable retailers such as HEB, Kroger, Lowe’s, Kohl’s, Target and Best Buy
•Houston's retail market continues to experience record-low vacancy of 5.3% due to Texas’ low-cost, low-tax, high-quality-of-life model that draws residential & commercial relocations from both of the coasts
•An inventory of 2.3 million retail SF within a one-mile radius surrounding the property echo the sentiments of the MSA with a vacancy rate of 3.7%, nearly 160 basis points lower than the greater Houston retail market
•Humble’s market possesses an affluent demographic profile, including over 129,000 residents and an average household income greater than $125,000 within a five-mile radius of the subject property
•Atascocita, the unincorporated community that the Asset inhabits, draws a vast clientele from Atascocita Town Center, Lake Houston, Atascocita Golf Club, Walden on Lake Houston Country Club, and Atascocita High School
•The tenant, Texas Emergency Care Center (“TECC”), opened in 2006 as one of the first freestanding emergency rooms in the state
•Each emergency room is equipped with a full-service laboratory, imaging capabilities, cardiac monitoring, and pediatric emergency care
•TECC’s 14 emergency rooms are open 24 hours a day, seven days a week, 365 days a year
•Due to tremendous growth within the freestanding ER and urgent care industry, Family ER + Urgent Care acquired TECC in 2016