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NOI Net Operating Income N/A
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Key facts

Building Area

Property description

Jones Lang LaSalle (“JLL”), as exclusive advisor, is pleased to present the opportunity to purchase Alamo Quarry Center (the “Property”), a 38,370 SF two-story medical office building located at 250 E Basse in San Antonio, Texas. Positioned along US Highway 281 in the heart of Central San Antonio, the Property is directly adjacent to the iconic Alamo Quarry Market, within one of the most desirable submarkets in the City to live, work, and play. Fully leased, Alamo Quarry Center offers potential investors the rare opportunity to acquire a generational, irreplaceable infill medical office asset with potential upside and long-term value appreciation in one of the most resilient cities in the Nation. 

Investment highlights

GENERATIONAL, CORE-PLUS OFFERING WITH PREMIER MEDICAL TENANCY

-         Fully leased, Alamo Quarry Center presents a diverse tenant composition of primarily medical tenancy specializing in emergency care, primary care, eating disorder treatment, OB/GYN services, and pain management as well as Salata, a healthy restaurant option that complements the medical tenancy

-         Featuring a WALT (weighted average lease term) of 3.4 years, with the first major rollover not occurring until 2024, Alamo Quarry Center provides long-term stable cash flow with limited event risk

-         Almost all the tenants in Alamo Quarry Center support mission-critical objectives which has resulted in continued physical occupancy of the Building, even throughout the COVID-19 pandemic, which presents a relatively low risk to potential investors of any tenant “going dark” in the Building

STRONG ANCHOR, REGIONAL MEDICAL TENANT

-         Premier regional healthcare provider, Methodist Healthcare System, comprises nearly 43% of the Property’s net rentable area including Methodist ER (8,500 SF) and Methodist Physicians Practice (7,868 SF)

-         As San Antonio’s second largest private employer (11,000+ employees), Methodist Healthcare dominates in the City as one of the most respected and preferred healthcare providers in South Texas with nine acute care facilities located throughout San Antonio

-         Their location in Alamo Quarry Center serves as an extension of the emergency room at Methodist Hospital Metropolitan (8-minute drive from Property) and offers a wide variety of emergency care services to treat life-critical conditions 

IRREPLACEABLE URBAN INFILL LOCATION NEXT TO THE AWARD-WINNING ALAMO QUARRY MARKET

-         Positioned along US Highway 281, next to one of the most iconic and visited destinations in the City, Alamo Quarry Market, which features over 500,000 SF of entertainment and retail space with 60+ tenants in the shopping center

-         Proximate to some of the most desirable and affluent neighborhoods in San Antonio such as Alamo Heights, Terrell Hills, and Olmos Park where the average home value is $636,000 with many homes valued in the millions

-         Minutes away from Downtown San Antonio, Midtown, and the San Antonio International Airport near San Antonio’s premier corporate corridor along Loop 410 

HIGH-QUALITY BUILDING WITH SUPERIOR WALKABILITY

-         Completed in 2014, Alamo Quarry Center is a premier medical office property that features extensive medical office buildouts and quality construction, increasing likelihood of tenant renewals while reducing the need for future capital expenditures

-         Substantial lower level garage parking (approximately 74 spaces) provides weather protection and convenient elevator access to interior common areas coupled with considerable surface parking makes for an above-average parking ratio of 4.69:1,000 SF

-         Located directly on the Quarry Golf Course, providing spectacular views overlooking the Greens with a total of 100+ retail, dining, entertainment, and fitness spots within walking distance from Property, offers unique and highly desirable amenities for tenants and visitors of Alamo Quarry Center alike

RESILIENT SAN ANTONIO ECONOMY

-         As the 3rd fastest growing City in the nation (from 2010-2019), in large part due to the presence  of non-cyclical industries, business friendly climate, and low cost of living, San Antonio is considered to be one of the strongest and most resilient cities in the nation 

Last Updated Date: 12 Jul 2021
John Taylor
John Taylor
Managing Director, Capital Markets
Broker Licenses
TX-466052
Brian Bacharach
Brian Bacharach
Managing Director, Capital Markets

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Last Updated Date: 12 Jul 2021

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