Texas Children’s Pediatrics West Austin Portfolio
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Marketing description
Cushman & Wakefield’s Central Texas Private Capital Group is pleased to present to the market the Texas Children’s Pediatrics West Austin Portfolio, a three property medical office portfolio located in the high growth West Austin suburbs of Bee Cave, Spicewood, and Dripping Springs. The two tenant properties are fully leased and anchored by Texas Children’s Pediatrics (Fitch: AA-), formerly Beansprout Pediatrics, who occupy 54% of the portfolio with lease terms through September 2032 (+/- 7 years). The properties benefit from complementary pediatric co-tenants with Bee Cave Family Dentistry at the Bee Cave location, Kite Strings Pediatric Therapy at the Spicewood location, and Therapy Adventures at the Dripping Springs location. The portfolio offers a weighted average lease term of ±6 years providing stability and secure cash flows from a high retention medical tenant base in the path of growth in West Austin. The properties are being offered on an individual or portfolio basis providing a scalable opportunity in multiple high demographic Austin submarkets. Please reach out to a team member to learn more about this opportunity.
2440 US 290 Building C, Dripping Springs is now under contract.
Available For Sale On Individual or Portfolio Basis
Investment highlights
Portfolio Highlights
Three Property Medical Office Portfolio in West Austin : 17,022 Total SF
100% Leased to Complementary Pediatric Practices
Anchored by Texas Children’s Pediatrics : AA- Credit Rating (Fitch); 54% Portfolio NRA; 7+ Years Remaining Term (Sep-32)
Premier Hill Country Submarkets : Submarkets of Bee Cave, Spicewood, and Dripping Springs
Exceptional Demographics in Path of Growth in West Austin
Properties Available on Individual or Portfolio Basis
54% Net Rentable Area Of Portfolio
7+ Years Of Remaining Lease Term (9/30/27)
$26.82 PSF Average Rental Rate (Nnn)
13917 W HWY 71, Bee Cave, TX 78738:
Year Built: 2008
Property Size: 5,859 Sf
Land Area: 1.0 Acres
Parking: 27 Surface Spaces; 4.61:1,000 Parking Ratio
Occupancy: 100%
Avg. Remaining Lease Term: 8.38 Years
Floors: 2
20424 Haystack Cove, Spicewood, TX 78669:
Year Built: 1995
Property Size: 5,586 Sf
Land Area: 3.0 Acres
Parking: ±36 Surface Spaces; 6.44:1,000 Ratio
Occupancy: 100%
Avg. Remaining Lease Term :4.5 Years
Floors: 2
2440 W HWY 290, Building C, Dripping Springs, TX 78620:
Year Built: 2007
Property Size: 6,324 Sf
Land Area: 2.50 Acres
Parking: 174 Shared Surface Parking Spaces
Occupancy: 100%
Avg. Remaining Lease Term: 6.04 Years
Floors: 1
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