January 17, 2017 – Horvath & Tremblay has successfully completed the sale of Neighbors Emergency Center in Harlingen, Texas. Horvath & Tremblay represented the buyer to close the property at a sale price of $6,172,686, a 6.57% cap rate.
Located at the hard corner of South Ed Carey Drive and Pease Street, Neighbors Emergency Center fully occupies the newly constructed 8,000-square foot building and operates under a new 12-year corporate-backed triple net lease (NNN) with zero landlord responsibilities. The property is positioned in an excellent location within a strong retail and medical office corridor. The site is directly across the street from Valley Baptist Medical Center, a 300 bed medical center with over 1 million annual visitors and the VA Health Care Center at Harlingen. Numerous national tenants are also in close proximity including: numerous Walgreens, CVS, McDonald’s, Chick-fil-A, Burger King, Bed Bath & Beyond, Marshalls, Target, Burlington Coat Factory, Ulta Beauty, Kohl’s, and more. The site features strong demographics with over 96,000 people within a five mile radius. Neighbors Emergency Center is an award winning, 24-hour emergency care center with locations in Texas, Colorado and Rhode Island.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.