XPRESS WELLNESS URGENT CARE – ENID, OK

HIGHLIGHTS:

• Xpress Wellness Urgent Care (47+ Locations)|Dominant Regional Urgent Care Operator – Xpress Wellness is the leading private urgent care provider in Oklahoma and Kansas and has recently expanded into Texas. Xpress Wellness has close to 50 locations in 2023 with 7 more locations coming soon. In 2018, Latticework Capital Management (LCM) partnered with Xpress Wellness. LCM is a leader in the healthcare investment space, and they currently have $400M in assets across their multiple institutional healthcare funds and their investment team has invested over $1.5B of equity investments across the United States.
• CPI Increases Every 2 Years|Zero Landlord Responsibilities – The subject property has CPI increases to annual rent every two years including renewal periods. This offers a future landlord an above average return to traditional lease structures available in the net leased environment. The lease also features no landlord responsibilities. Tenant is responsible for all taxes, insurance, and maintenance and repairs responsibilities.
• Rare Established STNL Urgent Care Property – The Enid location was the very first location for Xpress Wellness in 2014. Xpress Wellness has served an immediate demand for healthcare in Enid for the past 9+ years. The tenant has further showed long term commitment to the site by extending their lease early for 15 years in July of 2018. The lease still features Four, Five-Year options remaining with the same CPI structure as the base term.
• Recession Proof and Ecommerce Resistant Industry – According to estimates, the urgent care market will reach roughly $48 billion in revenue in 2023, a 21% increase from 2019. Compared to other net leased asset classes, urgent care fills a critical and essential need in the community, providing affordable, convenient, and efficient care to patients every day of the week. Xpress Wellness provides a range of services from X-Rays, COVID and Flu tests, drug screens, common illnesses, physicals, and many others. The Enid Xpress Wellness location now provides behavioral health services, where there were 57.8 million adults (2021) in the US living with a mental illness.

EXCLUSIVELY LISTED BY:

DOMINIC SULO
Senior Managing Director Investments
Senior Director, Net Lease Properties Division
(630) 570-2171
dominic.sulo@marcusmillichap.com

BEN BACH
Associate
(630) 570-2181
ben.bach@marcusmillichap.com

OKLAHOMA BOR
Steve Greer
Lic #206118