Foreign and Domestic Investors Compete in Stan Johnson Company’s Full Price Sale of 275,000 sf VA Outpatient Clinic in Austin, TX
Tulsa, OK, (December 29, 2016) – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of the Austin VA Outpatient Clinic, a 275,000 SF, freestanding outpatient clinic located at 7901 Metropolis Drive in Austin, Texas. This sale marks the largest healthcare asset sold in the United States in 2016, per CoStar records.
Ryan Butler, Brad Moulder and Anne Perrault of Stan Johnson Company represented the seller and developer, Cullinan Properties. James McGrade of HPA Realty, Inc. represented the buyer, who is affiliated with The Innovation Institute based in La Palma, California.
Ryan Butler and team received multiple offers and ultimately sold the property at full asking price. “The profile of this asset appealed to a multitude of investors - both foreign and domestic. We were able to parlay the interest of both into a very competitive process. Ultimately, we were pleased to help our client achieve excellent pricing and to see the buyer acquire a legacy asset of generational quality,” said Ryan Butler, a Senior Director in the corporate office.
After closing, Mike Owens of Cullinan Properties said, “Ryan and the whole Stan Johnson team were stellar throughout every phase of the transaction. We know we can count on them to deliver.”
Completed in 2013, the LEED Silver Equivalent facility located in Austin is in one of the fastest growing cities in the United States. Adjacent to the 35-acre property is the Austin-Bergstrom International Airport, which had an all-time record of more than 11 million travelers in 2015, growing 11% year-over-year versus 2014.
The Austin VA Clinic is part of the Central Texas Veteran Health Care System, a network supporting more than 1.68 million Texas-resident servicemen and women. Upon its completion, the facility represented the largest freestanding medical clinic of its kind in the nation. Today, the Austin VA Clinic accommodates more than 300,000 patient visits annually and draws from 39 counties in central Texas, a region with more than 3.5 million people. A full spectrum of specialty and routine primary care is provided, including audiology, cardiology, mental health, neurology, oncology, radiation, prosthetics and rehabilitation treatments.
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses exclusively on net lease transactions involving retail, office, industrial, healthcare and sale-leaseback properties. The firm provides acquisition, disposition, capital markets and advisory services for institutions, developers, investment funds and private investors across the United States. Now in its fourth decade of serving as a trusted advisor to its valued clients, Stan Johnson Company has completed more than $30 billion in transactions nationwide and is regarded as the Net Lease Authority®. To learn more about Stan Johnson Company, please visit the recently enhanced website at www.stanjohnsonco.com.