$20.3 Million Medical Office Building Hits the Market in Port Arthur, TX

  

Regional Professional Building

 PORT ARTHUR, TX– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has the exclusive listing for the Regional Professional Building, a five-story, on-campus medical office building.

            Tanner McGraw, a senior associate at the firm’s Houston office, is representing the seller.

            “This Class A medical office building is currently 96-percent leased to a diverse medical tenant base with a staggered lease expiration schedule to further ensure steady investor revenue,” says McGraw.

Tanner McGraw

“Annual rate increases are already in place to support future NOI growth,” McGraw continues, “and with high-quality construction dating from just 2006, the asset will require few or no capital expenditures.”

The 117,988-square foot property is located at 2501 Jimmy Johnson Blvd., directly adjacent to The Medical Center of Southeast Texas. The building’s convenience and close proximity to The Medical Center make it a unique asset to the Port Arthur market. The property requires a 24 percent down payment, and will provide investors with a 9.35 percent cash-on-cash return.

            “Roughly 35 million individuals are newly slated for healthcare coverage under the Patient Protection and Affordable Care Act,” adds McGraw. “This increased demand for healthcare should result in an equally strong need for medical office space. High-quality, reliably performing assets like the Regional Professional Building should see especially stable returns, as physicians relocate from smaller, aging facilities,” McGraw concludes. 

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Stacey Corso

Public Relations Manager

(925) 953-1716