September 5, 2023 – Matt Nadler, Russell Verzino and Zach Smith of Horvath & Tremblay have successfully completed the sale of Permian Premier Health Services in Big Spring, Texas. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,000,000.
Permian Premier Health Services is located at 2301 South Gregg Street in Big Spring, Texas. The Property consists of a 7,682 square foot building on a 0.897-acre parcel of land. The Property is fully leased to Permian Premier Health Services, an affiliate of Steward Health Care. Permian Premier Health Services recently executed a 10-year extension demonstrating their commitment to the site and the market. Permian Health Services has 8+ years remaining on their lease with two (2), 5-year renewal options. The lease calls for an attractive 11.3% rent increase in year 6, and the rent in the renewal options shall increase by the greater of 3% or the then Fair Market Rent providing a steady increase in income and an attractive hedge against inflation. The Property is well located along S Gregg Street (US Route 83 BUS), the area’s primary commercial corridor. The Property enjoys outstanding frontage and visibility and is positioned across from the George H O’Brien, Jr. VA Medical Center, the largest hospital in the region. Additionally, the Property is 0.2-miles from the area’s two primary retailers, H-E-B and Walmart Supercenter, and is surrounded by other national retailers and restaurants that drive traffic to the area. The Property offers convenient access to the area’s major roadways including Interstate 20, US Route 87, and TX Route 700. Big Spring is a city in and the county seat of Howard County, Texas. Big Spring is the largest city between Midland to the west, Abilene to the east, Lubbock to the north, and San Angelo to the south.
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.