- Details
- Investment Highlights
- Description
Tenant
U.S. Department of Veterans Affairs
Location
Victoria, Texas
Price
Unstated
CAP Rate
Unstated
NOI
Unstated
Lease Term
15 Years
Occupancy
100%
Building Size
25,963 SQ FT
Property Type
Office
Year Built
2024
Lot Size
4.16 Acres
Status
Under Contract
Property Contacts:
100% LEASED TO THE U.S. FEDERAL GOVERNMENT
Single-tenant facility leased to the U.S. Federal Government, with lease guaranteed by the full faith and credit of the United States of America, featuring an Aaa credit rating and unrivaled income security
NEW 15-YEAR LEASE TERM
First-generation lease with U.S. Department of Veterans Affairs commenced in December 2024 for a new 15-year term
2024 BUILD-TO-SUIT CONSTRUCTION
New construction, designed and built-to-suit for VA with completion in 2024; state-of-the-art healthcare facility delivering coordinated patient care services via the VA’s Patient Aligned Care Team (PACT) model
$6.5 MILLION IN TENANT-FUNDED IMPROVEMENTS ($250/SQ FT)
Tenant-funded improvements in excess of $6.5 million ($250 per square foot) evidences the significant investment in this location by VA and creates an attractive asset basis that is below current and future replacement costs
ESSENTIAL VA HEALTHCARE SERVICES
The VA Outpatient Clinic in Victoria serves in excess of 3,300 Veteran patients, offering Primary Care, Laboratory and Pathology, Mental Health Care, Social Work, Telehealth, Whole Health, Nutrition, Food, & Dietary Care, Podiatry, Optometry, Optical Shop, Prosthetics, and other crucial medical care; healthcare provided through VA Outpatient facilities are essential services that remained uninterrupted during the Covid pandemic and are highly-utilized facilities without impact from remote work;
ESTABLISHED HEALTHCARE LOCATION
Located in Victoria, Texas, the central point between San Antonio, Houston, and Corpus Christi, the Victoria VA Outpatient Clinic is positioned in a well-established location for healthcare services, in immediate proximity to DeTar Hospital, PAM Specialty Hospital, PAM Health Rehabilitation Hospital, and Springwood Medical Plaza, which houses a surgery center, orthopedic center, outpatient rehab, gastro health and nutrition, and pharmacy
