Abilene, Texas For Sale Investment Opportunity or User Opportunity Abilene Doctors Hospital & Surgical Center 5602 HEALTH CENTER BOULEVARD ABILENE, TEXAS 79606 PRESENTED BY: Beth Young CCIM, LEED AP Senior Vice President Houston BLUESTONE RIDGE OFFERING MEMORANDUM DIRECT +1 713 830 2166 EMAIL beth.young@colliers.com COLLIERS INTERNATIONAL P. 1
The Offering Purchase Price: $4,900,000 Price per SF (building): $120.59 Price per SF (land): $11.25 As the exclusive agent for the owner, Colliers International is pleased to offer for sale or lease the Abilene Doctors Hospital and Surgical Center, a 40,633 square foot medical facility constructed in 2005 located in Abilene, Texas. This Class-A facility features 14 in-patient beds supported by three operating rooms, diagnostic, imaging and administrative support areas. The current asking price of $4,900,000 equates to $120.59 per square foot on the improvements and $11.25 per square feet on the ten (10) acres of ground area. Investment Highlights Far Below Replacement Cost In 2005 when the property was built, it was reported that the development costs exceeded $10 Million or more than $250 per square foot. The offering price of $4.9 Million is drastically below replacement costs. Positive Economic Trends According to economist Karr Ingham, founder of the Abilene Economic Index (AEI), the results for August 2014 continue to improve rising to 121.7 up from 121.3 in July 2014, and up 1.75% from the August 2013 AEI of 119.7. In addition, the city of Abilene reported a sharp increase in the value of building projects in 2014. The city s construction valuation summary lists more than $140 million in approved projects through September 2014, up from $89 million in 2011. Low Unemployment Rate While the nation s unemployment rate is currently near 5.8% and the State of Texas unemployment rate is near 4.9%, the City of Abilene unemployment rate is only 3.7% according to the US Department of Labor Bureau of Labor Statistics for November 2014. This is down from 4.4% in June 2014. Job Growth - According to Forbes, Abilene had a job growth of 1.3% in 2013 and the projected annual job growth is 2.5%. Also, cost of living is 4.8% below national average.
Investment Highlights (cont) Attractive Financing for Users Financing is available for users through the Small Business Administration ( SBA ) to acquire real estate and/or complete interior improvements at commercial interest rates that are at historic lows. Strong Demographics Within a 5-mile radius of the subject property there are approximately 90,000 residents, of which approximately 17.5% are 45 or more years old and 12.1% are 60 or more years old. Investors are encouraged by the fact that the number of Americans aged 65 and older (with a potential need for health care) is projected to double to 75 million nationally, or nearly 20% of the U.S. population, by 2030. Abilene is one of Forbes 2014 Top 25 Places to Retire! Dyess Air Force Base Located less than a mile from the subject property, Dyess Air Force Base is a 6,409 acre base with over 14,470 military and civilian personnel. With a total economic impact of nearly $421 million annually on the local community, it is the single largest employer in the area. Health Care Void in West Abilene With only two major hospitals located at the extreme north and south of the City of Abilene, there is a void in health care services on the west side of town. Abilene has everything a company needs for a relocation or expansion: a capable, less expensive labor pool, comfortable living and a strong business support system. New Business: As of November 2014 - South American food giant is building a $30 million plant expansion; a California plastics company is setting up a $63.2 million facility to turn old water bottles into new for Nestle Waters nearby Ozarka plant after receiving a $6.2 million incentive package from Abilene.
Property Information Bluestone Ridge > CLASS A MEDICAL FACILITY > PROPERTY ADDRESS: 5602 Health Center Blvd Abilene, TX 79606 > YEAR BUILT 2005 > BUILDING SIZE 40,633 SF > LAND SIZE 10 +/- acres > SURGICAL ROOMS 3 Operating rooms > BEDS Room for 12 P.A.C.U. Beds Room for 14 Patient Beds Room for 6 Recovery Beds > PREP ROOMS 5 Out Patient > PHARMACY AREA > EMERGENCY CARE ENTRANCE > IMAGING AREA > PHYSICIAN DINING ROOM > VISITOR DINING ROOM > COMMERCIAL KITCHEN AREA > WATER PURIFICATION SYSTEM > DE-HUMIDIFIER > BACK UP GENERATOR > LOCKER ROOMS WITH SHOWERS
Building Specifications Building Exterior Constructed of Brick and Architectural Concrete Masonry Units with a wall height of approximately 16 feet, concrete footing and 4 foundational concrete slab concrete increasing to 6 in certain rooms. Floor recesses are provided in certain rooms to accommodate imaging equipment. Roof Flat, tar and gravel roof built over a concrete pour on to 1 ½ steel decking panels. HVAC There are three (3) HVAC split systems plus one (1) chiller unit each operating independent zones with independent zone control. There are three (3) gas boilers and a de-humidification system. Electric Utility Includes 2,500 AMP, 480V, 3-phase servicing powering 480, 277, 208 and 120V requirements throughout the facility. Water Source Provided by 2 different source pipes from the opposite side of the property; 4 water meters; 2 each 4 domestic water supply main pipes; 2 each 6 fire water supply and main supply pipes; 2 water heaters with large water tanks & 2 pumps; approximately 16 Backflow preventers; 1,000-gallon grease interceptor (for kitchen service) Fire & Security System Includes horns, strobes, audible alarms and monitoring capability; HVAC shut-down; 3 interior building compartments with fire ratings of 1 or 2 hours. Building perimeter has monitoring cameras and monitor. Zoning This facility is located within the city limits of Abilene which subscribes to zoning. The zoning classification is PDD 76, which represents a Planned Development District, File/Request No. 76. The Planned Development District was adopted circa 2002. According to the planning and zoning office, permitted uses include offices, medical/dental office and lab, optical shop, surgical center (outpatient only), pharmacy, health/physical fitness facility (including physical rehabilitation facility), wellness center, nursing home and assisted living. The previous use of the facility was a conforming/legal use. Building Equipment Includes 3 AERCO gas fired boilers; reverse osmosis system; Caterpillar 450 KW diesel back up emergency generator with automatic transfer switch; complete Med-Gas system including medical dynamic vacuum system.
City Hospitals 1900 Pine Street Abilene, TX 79601 > HOSPITAL INFORMATION 522 licensed beds 2,600 hospital employees > SPECIALTIES Cardiology/ Cardiothoracic Surgery Family Practice/ Internal Medicine Gastroenterology General Surgery Oncology/ Radiation Oncology Pediatrics/ Neonatology Obstetrics/ Gynecology 6250 US Highway 83 Abilene, TX 79606 > HOSPITAL INFORMATION 231 licensed beds 1,000 hospital employees > SPECIALTIES Allergy Anesthesiology Cardiology/ Cardiothoracic Surgery Colon/ Rectal Surgery Dentistry/ Oral Surgery Dermatology Emergency Medicine Family Practice/ Internal Medicine Gastroenterology General Surgery Geriatrics Infectious Disease Nephrology Neurology Obstetrics/ Gynecology Oncology/ Radiation Oncology Ophthalmology Orthopedics/ Orthopedic Surgery Otolaryngology Pathology Pediatrics/ Neonatology Physical Medicine Plastic & Reconstructive Surgery Podiatry Pulmonary Medicine Radiology Sports Medicine Urology
Abilene Information > COMMUNITY FACTS Population: 120,099 (2013 est US Census) (total service area): 240,000 Abilene is located approximately 180 miles west of the Dallas/Fort Worth area, situated in west central Texas near the geographic center of the state. Abilene is Bluestone Ridge the center of a 22-county area commonly referred to as the Texas Midwest or the Big Country. Abilene serves as the county seat for Taylor County, which has an estimated population of 134,117 (2013 est US Census). > EDUCATION Universities and Colleges: Abilene Christian University Hardin-Simmons University McMurry University Texas State Technical College West Texas Texas Tech University at Abilene Cisco College > ACTIVITIES: Western Heritage Classic West Texas Fair and Rodeo Public Parks, Lakes, Golf Abilene State Park Abilene Philharmonic Abilene Symphony Abilene Public Library High Schools: 3 public / 1 private Middle Schools: 4 public / 3 private Elementary Schools: 16 public / 5 private Day Care Centers: 20 Abilene Motorsports Classical Chorus of Abilene The Grace Museum Mall of Abilene Play Faire Park, Family Fun Center & Miniature Golf Center 2015 Dyess Big Country Airfest > POINTS OF INTEREST: Home to Dyess Air Force Base Taylor County Expo Center Fort Phantom Hill Paramount Theater Grace Cultural Center The National Center for Children s Illustrated Literature Abilene Zoo Frontier Texas! City of Abilene Civic Center
Demographics > RINGS: 1, 3, 5 MILE 1 MILE RADIUS 2014 Population Total Population 6,627 Male Population 50.1% Female Population 49.9% Median Age 27.1 2019 Projected Population: 6,866 2014 Income Median HH Income $39,267 Per Capita Income $21,575 Average HH Income $48,554 2014 Households Total Households 2,943 2019 Projected Households: 3,070 3 MILE RADIUS 2014 Population Total Population 45,579 Male Population 49.1% Female Population 50.9% Median Age 32.8 2019 Projected Population: 47,186 2014 Income Median HH Income $47,275 Per Capita Income $22,472 Average HH Income $54,772 2014 Households Total Households 18,478 2019 Projected Households: 19,271 5 MILE RADIUS 2014 Population Total Population 89,976 Male Population 48.8% Female Population 51.2% Median Age 34 2019 Projected Population: 93,145 2014 Income Median HH Income $48,009 Per Capita Income $22,344 Average HH Income $56,099 2014 Households Total Households 35,343 2019 Projected Households: 36,864 (Information obtained from SitesUSA)
Location Abilene is a city in Taylor and Jones counties in west central Texas. It is the principal city in the Abilene MSA and the county seat of Taylor. Abilene is located off Interstate 20, approximately 150 miles west of Fort Worth, Texas. The subject property is conveniently located approximately 3.5 miles off of Interstate 20 and is in one of the fastest growing sections of the city. Abilene Doctors Hospital & Surgical Center is located approximately 6 miles from downtown Abilene and only 25 minutes from the Abilene Regional Airport. Area hotels are approximately 1.5 miles from the property and the Abilene Mall is only a short 10 minute drive. Abilene, TX - a Top 25 Place to Retire in 2014 Please Contact: Beth Young CCIM, LEED AP Senior Vice President Houston DIRECT +1 713 830 2166 EMAIL beth.young@colliers.com Forbes Magazine This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising therefrom. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2010. All rights reserved.