Single Tenant WellMed

Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant net lease medical office building leased to WellMed Medical Management, Inc., (the “Property”) in the urban core of San Antonio, Texas. This WellMed occupied property offers a rare combination of long-term stability, strong credit tenancy, and strategic location within San Antonio, Texas—an income tax-free state with a metro population exceeding 2.7 million. In 2025, WellMed proactively extended its lease by an additional five years, bringing the remaining term to over ten years, a clear demonstration of the tenant’s long-term commitment to the site. The lease features fixed annual rental increases of 2.5%, with a scheduled 5% rent increase in 2031 and at the commencement of the first renewal option period. WellMed Medical Management, Inc. is part of OptumCare, under Investment Grade UnitedHealth Group (S&P: A+), which reported Q1 2025 revenues of $109.6 billion—including $63.9 billion from Optum alone—highlighting strong financial backing. The property itself has benefited from recent capital improvements, including a new parking lot in 2024, HVAC system upgrades occurring between 2017 and 2022, and a roof replacement in 2017 with a transferable 15-year warranty. WellMed's acquisition and integration of the adjacent medical practice further solidifies its success at this location, where it now occupies the entire building for their internal medicine division. As a part of their expansion, WellMed invested $1.5 million of their own capital in an entire new interior premises, which was taken down to studs and fully modernized. The site boasts exceptional accessibility, located just seconds from Interstate 35 (157,500 VPD) and just over a mile from the I-35/I-10 interchange, where I-10 carries 204,500 VPD. The property is located in a high-density area, with a population of approximately 127,000 within a 3-mile radius and 298,000 within 5 miles. The surrounding area also includes 45,000 households within 3 miles and 107,000 households within 5 miles, providing a strong residential base to support continued healthcare demand. Additionally, the property is less than three miles from St. Philip’s College Southwest Campus, part of the Alamo Colleges District, which enrolls over 12,500 students and enhances the local daytime population and demand for healthcare services.