WellMed

Investment Overview

Fortis Net Lease is pleased to present this 7,904 SF WellMed Health Care facility located at 1030 Bensdale Road in Pleasanton, Texas. The property is encumbered with a 12 year double net (NN) lease with $.50/SF annual increases, including the 3-year renewal option and the five-year renewal option. The NN lease structure requires minimal landlord responsibilities and is corporately guaranteed by WellMed which has 383 locations and saw a gross profit in 2020 of $1.64 Billion. The initial 10 year primary term was extended to twelve years after a 1,904 SF expansion was completed in 2019. This location is highly visible as it is strategically at the corner of Bensdale Rd. (8,197 VPD) and West Rd. Bensdale Road is a is a main artery in Pleasanton. The five mile population is exceeds 18,000 with the three mile average household income is over $79,800. Pleasanton is seeing population growth in the next five years of 2.5% annually. This investment will offer a new owner success due to the financial strength and the proven profitability of the tenant.

Investment Highlights

• Initial 10 Year Lease Term Extended to 12 years after 1,904 SF Expansion in 2019 | 3.2 Years Remaining
• NN Lease Structure Requiring Minimal Landlord Responsibilities
• One, 3-Year Option; One, 5-Year Option
• $0.50 PSF Annual Rental Increases
• Five Mile Population Exceeds 18,119 Residents
• Five Mile Average Household Income $76,768
• 8,197+ VPD ON Bensdale Rd