VA OUTPATIENT CLINIC

Tenant

Department of Veterans Affairs

Location

McAllen, TX

Price

Unstated

CAP Rate

Unstated

Lease Term

14.5 Years Remaining

Occupancy

100%

Building Size

79,039 SQ FT

Property Type

Office

Year Built

2013

Lot Size

10.5 Acres

Status

Sold

Property Contacts:

Travis Trautvetter

Vice Chairman

858 558 5609 | Email

Jake Trautvetter

Capital Markets

858 558 5624 | Email

Kari Fiske

Brokerage Coordinator

858 334 4032 | Email

SINGLE-TENANT FEDERAL GOVERNMENT FACILITY
100% Leased to the U.S. Department of Veterans Affairs

Aaa Credit Tenancy
Lease is guaranteed by the United States of America, featuring an Aaa credit rating

LONG-TERM LEASE, NO TERMINATION RIGHTS
Original 20-year firm lease term, providing long-term, secure income

BUILD-TO-SUIT CONSTRUCTION
State-of-the-art, build-to-suit VA healthcare facility, completed in 2013

FAVORABLE LEASE STRUCTURE
Tenant is responsible for interior utilities and janitorial services, resulting in reduced landlord requirements relative to typical federal leases

The McAllen Veterans Affairs (VA) Outpatient Clinic is a single-tenant, 79,039 square foot healthcare center that was built-to-suit for the VA with completion in 2013.

This facility is leased for a 20-year firm term with the U.S. Department of Veterans Affairs, and is guaranteed by the United States of America, which features an Aaa credit rating from Moody’s Investors Service. There are approximately 14.5 years of remaining lease term, providing a long-term and highly secure income stream. The lease includes a favorable structure with tenant responsible for all interior utilities and interior janitorial services, reducing the typical level of landlord requirements contained in the majority of federal government leases.

The McAllen VA Clinic provides a variety of essential health care services to veterans in the region, including primary care, behavioral health, nutrition, social work, telemedicine, pharmacy, women’s health, radiology, laboratory, optometry, physical therapy, and prosthetics services. This facility replaced and significantly expanded the previous VA clinic in McAllen, which was approximately 27,700 square feet.

McAllen is the 5th most populous metropolitan area in the state of Texas at 774,769, located in the Rio Grande Valley at the southern tip of the state. The McAllen VA Clinic benefits from a central location within the city, located near the junction of Interstate 2 and 69C, and in close proximity to the McAllen International Airport.