Investment Highlights

10-YEAR NET LEASE WITH CORPORATE GUARANTEE TO FAST-GROWING TENANT
» 10-year net lease with corporate guarantee from Aspen Dental
» 10% rental increases every five years and in option periods
» Aspen Dental operates over 800 locations in 38 states and is the fastest growing network of independently owned dental practices in the U.S.
» New 2020 construction built to Aspen Dental’s latest prototype

HIGH TRAFFIC LOCATION IN POPULOUS AND AFFLUENT AREA
» 77,000 AADT in front of the property along Hull Street Road, increasing traffic to the location
» 95,676 residents and $116,487 AHI within a five-mile radius of the location, with a projected 12 percent AHI increase in the next five years
» Located in Brandermill community and 3.5 miles from Woodlake community (combined 6,400 homes, 20,935 residents), attracting a significant amount of local visibility to the site

IRREPLACEABLE INFILL LOCATION IN DENSE RETAIL CORRIDOR
» Within five miles of four major shopping centers with a combined 1.3 million SF of retail space and 121 stores
» Walking distance to Publix-anchored shopping center featuring Taco Bell, Hardee’s, Gold’s Gym, Little Caesars Pizza, and more
» 10 miles from Pocahontas State Park, Virginia’s largest state park, which generated $26 million in economic impact in 2018
» Immediate access to Village at Swift Creek Shopping Center, which features Kroger, Ross, Cracker Barrel Old Country Store, Panda Express, and more national tenants
» Gateway to Downtown Richmond (7 million annual visitors, $2 billion generated in visitor spending), increasing commuter and visitor traffic to the site

Property Description

SOLD

The property is prominently located along Hull Street Road, a primary Midlothian thoroughfare with excellent visibility and access to 77,000 vehicles per day in front of the location. The site is supported by a large and affluent customer base of 95,676 residents within a five-mile radius of the location, with an average household income of $116,487. The site is primed to grow along with the surrounding area, with a projected 12 percent average annual household income increase within five miles of the site in the next five years. Traffic to the property is increased by the site’s location in the Brandermill community and 3.5 miles from the Woodlake community, which has a combined 6,400 homes and 20,935 residents.

The property also benefits from being within walking distance of a Publix anchored shopping center featuring Taco Bell, Hardee’s, Gold’s Gym, Little Caesars Pizza, and more. The site is within five miles of four major shopping centers with a combined 1.3 million SF of retail space and 121 stores. The property is also adjacent to the Village at Swift Creek Shopping Center, which features Kroger, Ross, Cracker Barrel Old Country Store, Panda Express, and more national tenants. The site serves as a gateway to Downtown Richmond (seven million annual visitors, $2 billion generated in visitor spending) and is 10 miles from Pocahontas State Park, Virginia’s largest state park, which generated $26 million in economic impact in 2018.