The Snyder Carlton National Net Lease Team is pleased to offer to investors a great opportunity to acquire a single-tenant net leased Conviva Care Center in San Antonio, TX. Conviva Care Center is a wholly-owned subsidiary of Humana, Inc. (NYSE: HUM), which operates over 340 care centers across the country and serves over 390,000 seniors. The net lease has over 8.4 lease years remaining in the primary term with four 5-year option periods, rental increases every 5 years, and minimal landlord responsibilities, providing inflation-resistant cash flows for years to come.
The 15,003 SF building on a large 1.76-acre parcel is strategically positioned on St Cloud Road between Bandera Road and W Woodlawn Avenue which have a combined traffic count exceeding 33,000 VPD. Additionally, the subject property is a mile from St Mary’s University, the 135-acre private Roman Catholic University with a student enrollment of nearly 2,000. Downtown San Antonio is only 5 miles from the subject property and has an MSA population exceeding 2.7 million. Nearby retailers include Walmart Supercenter, McDonald’s, Raising Cane’s, Jack in the Box, Dutch Bros Coffee, CVS Pharmacy, Chase Bank and more.
This is an excellent opportunity to purchase a medical/retail asset in San Antonio, TX with an investment grade credit tenant, rent increases, and a net lease.