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Single-Tenant Office Medical

BioLife | 14-Year Lease | Takeda Pharma Guarantee

875 W Central Texas Expy, Harker Heights, TX 76548

Listing Price: $9,754,021

Cap Rate
6.00%
Tenant Name
BioLife
Years Remaining On Lease
14.0
Gross SF
14,150
Guarantor
Corporate Guarantee
Rentable SF
14,150
Price/Gross SF
$689.33
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$41.22

Investment Overview

Marcus & Millichap is pleased to exclusively offer BioLife with 14 years remaining on a triple-net lease guaranteed by Takeda Pharmaceuticals U.S.A., Inc. Takeda is an investment grade tenant with a BBB+ credit rating, has been in the business for 242 years, and had a revenue of $28.92 billion in 2022. The lease offers 1% rental increases throughout the term and 4, 5-year options. The real estate was recently updated and is ideally positioned. A new roof was installed in 2018 and in 2022 a brand new parking lot was installed with ample parking. The property offers three points of ingress/egress from East Central Texas Expressway and Knights Way with a combined 24,892 vehicles passing per day, as well as an additional 53,619 vehicles that pass on U.S> Highway 190, directly in front of West Central Texas Expressway. Located in an income tax-free state in an area with massive population growth; 147,219 people live within five miles of the subject property, with a 15.4% increase since 2010 and expected to grow by 6.4% by 2027.

Investment Highlights

  • Triple-Net Lease with 14 Years of Term Remaining on a BioLife Plasma Services
  • 1% Annual Rental Increases Throughout Term | 4, 5-Year Options
  • Takeda Pharmaceuticals U.S.A., Inc. Guarantee | Investment Grade Tenant | S&P BBB+
  • Situated Directly Off of U.S. Highway 190 | 53,619 Vehicles per Day
  • 147,219 People Live Within Five Miles | 15.4% Increase from 2010

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Financing By

Single-Tenant Office Medical

BioLife | 14-Year Lease | Takeda Pharma Guarantee

Listing Price: $9,754,021

Cap Rate
6.00%
Tenant Name
BioLife
Years Remaining On Lease
14.0
Gross SF
14,150
Guarantor
Corporate Guarantee
Rentable SF
14,150
Price/Gross SF
$689.33
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$41.22

Investment Highlights

  • Triple-Net Lease with 14 Years of Term Remaining on a BioLife Plasma Services
  • 1% Annual Rental Increases Throughout Term | 4, 5-Year Options
  • Takeda Pharmaceuticals U.S.A., Inc. Guarantee | Investment Grade Tenant | S&P BBB+
  • Situated Directly Off of U.S. Highway 190 | 53,619 Vehicles per Day
  • 147,219 People Live Within Five Miles | 15.4% Increase from 2010

Investment Overview

Marcus & Millichap is pleased to exclusively offer BioLife with 14 years remaining on a triple-net lease guaranteed by Takeda Pharmaceuticals U.S.A., Inc. Takeda is an investment grade tenant with a BBB+ credit rating, has been in the business for 242 years, and had a revenue of $28.92 billion in 2022. The lease offers 1% rental increases throughout the term and 4, 5-year options. The real estate was recently updated and is ideally positioned. A new roof was installed in 2018 and in 2022 a brand new parking lot was installed with ample parking. The property offers three points of ingress/egress from East Central Texas Expressway and Knights Way with a combined 24,892 vehicles passing per day, as well as an additional 53,619 vehicles that pass on U.S> Highway 190, directly in front of West Central Texas Expressway. Located in an income tax-free state in an area with massive population growth; 147,219 people live within five miles of the subject property, with a 15.4% increase since 2010 and expected to grow by 6.4% by 2027.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

Financing By

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