Texas Health Resources II

Project Overview

Built in 2019, this purpose-built outpatient center is Texas Health Resources’ largest and busiest outpatient center in Sunnyvale, TX, an important patient feeder to its hospitals and a true last-mile location surrounded by expensive homes and high-income households.

Tenant

The property is 76% occupied by Texas Health Resources (THR) and 24% occupied by Envision Imaging. THR is the biggest health system in Northern Texas, with $14 billion in revenue (2023) and AA credit rating by S&P. Envision Radiology (partially owned by THR) is the largest medical imaging provider in the Dallas-Fort Worth metro with 24 locations.

Location Overview

This location is easily accessible with excellent visibility from Highway 80, a 15-minute drive to downtown Dallas. The Stone Canyon Community Homes ($800,000 average home value) is within walking distance to this outpatient center. Sunnyvale, TX is a fast-growing town outside of Dallas, a 20-minute drive to downtown. Sunnyvale is an affluent community with high-end homes and a great school system (A-rated by Niche) that attracts families to move there.

A High-Income Neighborhood

Within a 5-minute drive time, the median household income is $152,728, which is 97% higher than the DFW area’s median household income of $77,682.

Rapid Population Growth

Sunnyvale’s population reported an annual growth rate of 9.07% (2000-2022).

Strong Population Density

The 15-minute primary market area (PMA) has a strong density of 189,685 population and 62,747 households.

Growth Catalysts

This location benefits from a strong household formation, excellent schools, a housing market boom, and rapidly aging demographics. The growth of Sunnyvale is expected to intensify because of easy access to major highways and roads, it is attracting new retail, residential, commercial, and industrial developments.