1262 E North St
Manteca, CA 95336
Manteca Professional Building · Office Property For Sale

OFFERS DUE THURSDAY, APRIL 4th BGL’S HEALTHCARE INVESTMENT SALES team has been exclusively retained by ownership to offer qualified investors the exceptional opportunity to acquire the Manteca Professional Building (the “Property” or “Building”), a single-tenant medical office building that totals approximately 10,564 rentable square feet. Located roughly 76 miles east of San Francisco and 74 miles northeast of San Jose, the Manteca Professional Building is strategically positioned adjacent to the affiliated 73-bed Doctors Hospital of Manteca, offering convenience for both healthcare providers and patients alike. In addition, the location provides immediate access to Freeway 99, which serves Modesto and Stockton to the north and Merced and Fresno to the south. The Property is 100% leased to First Choice Physician Partners, a multi-specialty group that is wholly-owned by Tenet Healthcare (NYSE: THC). Healthcare specialties offered within the Building include Family Medicine and Internal Medicine, Obstetrics & Gynecology services that include Preventive Care, Routine Checkups, Health- Risk Assessments, Immunization and Screening Tests, Personalized Counseling and Management of Chronic Illnesses. The Property is located adjacent to the Doctors Hospital of Manteca (Tenet Healthcare), a 73-bed acute care hospital, which provides the practice with a reliable referral network and improved convenience and satisfaction for patients. With its acquisition of USPI in 2015, Tenet Healthcare now has approximately 115,000 employees providing care out of 68 hospitals, 21 surgical hospitals, and 470 outpatient centers. Tenet Healthcare is also the largest operator of outpatient surgery centers in the U.S. Formed in 1974, Manteca Medical Group became First Choice Physician Partners in 2018 when Tenet Healthcare acquired and integrated the practice into its medical group. With the merger, First Choice Physician Partners signed a new 5-year lease, demonstrating its commitment to the location and the strategic importance of having primary care providers and specialists near the hospital campus. The combination of population growth and the Property’s location adjacent to the Doctors Hospital of Manteca offers investors a unique opportunity to acquire an exceptionally located medical building that is leased and occupied by a stable multi-specialty practice group. PROPERTY HIGHLIGHTS: CONTINUED GROWTH: A 38-acre, $250m expansion to the Great Wolf Resorts, Big League Dreams site, currently under construction, will feature a 95,000 square-foot indoor water park, 500-bed hotel, 45,000 square-foot family entertainment center and will bring 600 new jobs and 500,000 visitors annually to Manteca by 2020. TOP MSA: The Property is located in the Stockton-Lodi Metropolitan Statistical Area (ranked 76th largest in the U.S.) with approximately 745,000 residents, up 8.8% since the 2010 census and one of California’s fastest growing locations. CAMPUS-ADJACENT LOCATION: The Property is exceptionally located, opposite to the 73-bed Doctors Hospital of Manteca providing a reliable referral network and convenience for patients. STRONG DEMOGRAPHICS: The population has nearly doubled in the last two decades, accounting for 30% of the county’s population growth in the last 3 years and one of the fastest growing cities in California. There are 907 proposed and under-construction apartment units and 7,591 proposed, entitled, and finished single family lots. BABY BOOMER DEMOGRAPHICS: As of 2017, within a 15-mile radius of the Portfolio the number of residents aged 65 and older totaled approximately 71,000, which is projected to increase 8.3% by 2022. This growth in population in Manteca illustrates the increasing need for medical providers in this already robust healthcare market.