Kingwood Executive Center

Asset Type

Healthcare

Address
201 Kingwood Medical Dr Kingwood, TX United States 77339-6006
Asking Price

Contact for pricing

Sq Footage

29,690

Year Built

2006

Cap Rate

N/A

Additional Attributes

Property Description

Kingwood Executive Center is a single-story, multi-tenant medical office building constructed in 2006. The 29,120 rentable square foot property is comprised of two symmetrical, equal sized “L-shaped” buildings positioned around a central courtyard in interlocking fashion. The courtyard is meticulously maintained with an elegant waterscape providing peace and tranquility for patients and physicians alike. Each building consists of concrete tilt walls over a reinforced concrete slab. The site is conveniently positioned between Kingwood Place to the east and Kingwood Medical Drive to the north, with entrances to both roads at the site’s southeast and northwest corners respectively. The 2.72 acre site features 120 parking spaces for a ration of

4.12 per 1,000 rentable square feet. New parking spaces were recently added to the eastern edge of the site, along Kingwood Place.

Investment Highlights

Located in the growing region of a Top 5 MSA

• Houston MSA is the 5th largest in the United States with 19.1% population growth since 2010

• Kingwood is advantageously positioned along I-69

• Currently over 10,000 housing units under construction in the Lake Houston Area

• Advantageously situated on the campus of Kingwood Medical Center, a 419-bed hospital

Fast-growing hospital and the largest health system in Houston

• Kingwood Medical Center is conveniently located adjacent to I-69, providing ease of access for patients beyond its primary

service area

• One of only two hospitals serving the Lake Houston Area

• 20% growth of net patient service revenue since 2015

• $100+ million of capital invested on the campus for a new Women’s Center, Level III NICU, and 35 intensive/intermediate care unit beds

• Part of HCA Healthcare, the largest health system in Houston with 4,231 licensed beds

Bourgeoning medical hub with institutional ownership

• Class A medical office hub is clustered on and around the hospital campus

• Over 350,000 square feet constructed since 2000

• Submarket occupancy historically above 90%

• Scarcity of on-campus land available for new development

Low basis opportunity in a Class A submarket

• Ability to acquire Kingwood Executive Center well below replacement cost

• Opportunity to add health system tenancy as the hospital seeks additional space to satisfy its continued growth at rental rates below new construction rental rates

Listing Contacts
Justin Hill
Justin Hill
EVP, Capital Markets
+65 3159 4021
Anthony Sardo
Associate, Production Support
+65 3159 4021
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