Los Angeles, California – Our NNN Commercial Real Estate news for the day is on a major transaction on net leased medical office buildings. The Grubb & Ellis Healthcare REIT (real estate investment trust) has been working diligently on accumulating billions in net equity. NNN Lease Properties Investors see that Grubb & Ellis Healthcare REIT II, Inc has the strategy to buy diversified Investment Properties for their portfolio. The REIT prefers to grow their Investment Property portfolio with NNN commercial real estate assets which focus primarily on medical office buildings (MOB’s) and other healthcare related net leased properties.
The NNN Commercial Real Estate staff saw that Grubb & Ellis Healthcare REIT II, Inc. has purchased the Dixie-Lobo Medical Office Building (MOB) Portfolio that consists of eight net leased properties that combine 10 medical office buildings. These Net Leased Investments of Medical office Buildings are situated in Arkansas, Louisiana, New Mexico and Texas. Although we have many NNN Commercial Property Investors seek Absolute NNN Properties with no landlord responsibilities, for retail, well we see the interest growing for Medical Office Buildings.
Seavest Properties Inc. had control directly or indirectly of the medical office office building (MOB) portfolio. Seavest Properties Inc. was started in 1981 and is a actual commercial real estate investment administration firm. This commercial real estate investment firm focuses on funding the growth of, and the appropriation of healthcare actual estate assets. Our NNN Commercial Real Estate research has come up with the sale price of approximately $30 million, or about $193 per square foot. Ellis Healthcare REIT II Inc. receives this net leased properties portfolio that consists of approximately 156,257 square feet.
This Net Leased Properties Portfolio is known as the Dixie-Lobo Medical Office Building Portfolio. The Net Leased Properties Portfolio contains buildings which range in from 10,000 square feet to 33,112 square feet with the average size of 15,997 square feet. Each of the 10 medical office buildings are situated on the property site of local hospitals that are their sole net lease properties tenant. Several of these Net Leased Properties are affiliated with the Community Health Systems. This NNN Leased Property is currently one of the nation’s largest operators of general acute care hospitals in non-urban and mid-size markets. Each of the NNN Leased Properties tenants have at least four five-year renewal option period in their net lease contract.
The Net Leased Properties Portfolio, the Dixie Lobo Medical Office Buildings consists of:
• A Net Leased Property in, Hope, Arkansas, A single-story, 9,116 square foot property on the campus of Medical Park Hospital.
• 2510 and 2420 E. Main St., Alice, Texas. Two single-story buildings totaling 25,000 square feet on the campus of Christus Spohn Hospital Alice.
• 1920 W. Sale Road, Lake Charles, La. A single-story building, about 14,943 square feet, on the campus of Women & Children’s Hospital.
• 2420 W. Pierce St., Carlsbad, N.M. A two-story office building, about 24,000 square feet, on the campus of Carlsbad Medical Center.
• 5419 N. Lovington Highway, Hobbs, N.M. A single-story, 15,000-square-foot building on the campus of Lea Regional Medical Center.
• 302 Medical Park Drive, Lufkin, Texas. A single-story, 15,000-square-foot building on the campus of Woodland Heights Medical Center.
• 110 Medical Drive, Victoria, Texas. A single-story, 33,000-square-foot building on the campus of De Tar Hospital North.
• 2112 Regional Medical Drive, Wharton, Texas. This NNN Commercial Property consists of Two single-story buildings totaling 20,000 square feet on the campus of Gulf
Coast Medical Center.
Grubb & Ellis Healthcare REIT II was able to finance this NNN Commercial Properties purchase with a $23.24 million Commercial Loan assumption. The Grubb & Ellis Healthcare REIT also used cash proceeds received from one of their offerings. Our recent estimates have the Healthcare REIT acquiring 20 geographically diverse NNN Properties consisting of 43 buildings valued at more than $290 million. Grubb & Ellis Healthcare REIT II is sponsored by the Grubb & Ellis Company which happens to be one of the largest commercial real estate services firms and investment companies in the world.
We are pleased to offer NNN Commercial Property for sale to qualified investors with sources available for attractive CTL Financing. Contact Net Lease Properties to purchase Commercial Real Estate all across the Country.
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