MADISONVILLE, TEXAS, April 22, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Huntsville Memorial Hospital ER, a 8,200-square foot net-leased property located in Madisonville, Texas, according to Kyle Palmer, Sales Manager of the firm’s Fort Worth office.
Philip Levy, First Vice President of Investments and Chris Gainey, Senior Associate in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by Mr. Gainey and Mr. Levy, in Marcus & Millichap’s Fort Worth office.
Huntsville Memorial Hospital ER is a single tenant ER Clinic located at 3301 East Main Street in Madisonville, Texas. The double-net lease is guaranteed by Walker County Hospital Corporation d/b/a Huntsville Memorial Hospital. Eight years remain on the primary term, and the tenant has two, five year options for renewal with rent increases at the beginning of each option period equal to the greater of 10 percent or adjusted by the Consumer Price Index. The building was constructed in 2012 and sits on 1.43 acres.
The subject property is located directly off of Interstate 45 on East Main Street (Highway 21). Buc-ee’s super-service station is directly across from the property. Other retailers in the surrounding area include Best Western Executive Inn & Suites, Subway, Pizza Hut, Jack in the Box, Taco Bell, Sonic Drive-In, McDonald’s and Days Inn & Suites.
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About Marcus & Millichap (NYSE: MMI)
With over 1,600 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com