Investment Highlights

NEW 10-YEAR NET LEASE WITH SCHEDULED RENTAL INCREASES
» Leased to Heartland Dental for 10 years plus three (3) five-year options
» 10% fixed rental increases every five years in initial term and extension terms, providing a hedge against inflation
» Heartland Dental, LLC is the largest dental support organization in the U.S., with more than 875 supported dental offices located in 37 states

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED, GROWING, AND AFFLUENT AREA
» Outparcel to a Walmart Supercenter-anchored shopping center, attracting crossover shopping to the location
» 113,183 residents within a five-mile radius of the property, providing a large customer base for the location
» High-visibility location along John Hawkins Parkway (29,593 AADT)
» Central location at the confluence of highly trafficked Alabama thoroughfares, including Interstate 459, U.S. Route 31, and Interstate 65 (combined 248,899 AADT)
» Average annual household income of $108,396 within a five-mile radius of the site
» Projected 12 percent average annual household income increase within a five-mile radius of the property in the next five years, poising Heartland Dental and Hoover for significant concurrent growth

CENTRAL LOCATION NEAR MULTIPLE TOURIST ATTRACTIONS, RETAILERS, AND COMMUNITY HUBS
» 1.5 miles from an entrance to Riverchase Galleria, one of the largest shopping centers in the Southeast and Alabama’s top tourist attraction, with 15 million visitors per year
» The Riverchase Galleria complex features over 200 retail stores, the Birmingham region’s only Costco, a 15-story Hyatt Regency hotel, and the 17-story Galleria Tower office building
» Beneficial proximity to significant new retail and residential developments, including the 339-acre expansion of the Trace Crossings housing community
» Gateway to Downtown Birmingham, the most populous city in Alabama (population 209,403)
» Centrally located between multiple area attractions, including Oak Mountain Amphitheatre, Hoover Metropolitan Complex, and Autobahn Speedway & Events Center

Property Description

SOLD

The property has an easily accessible location visible from John Hawkins Parkway (29,593 AADT). The site maintains a central location at the confluence of highly trafficked Hoover thoroughfares, including Interstate 459, U.S. Route 31, and Interstate 65 (combined 248,899 AADT). The property is located in an affluent area, with an average annual household income of $108,396 within five miles of the site. The site also benefits from its location in a populous area, with 113,183 residents living within a five-mile radius of the property. With a projected 12 percent average annual household income increase within a five-mile radius of the property in the next five years, Heartland Dental and Hoover are poised for significant concurrent growth.

The property benefits from its central location near multiple large employers, retailers, and community hubs. Visibility is increased by the site’s location 1.5 miles from an entrance to Riverchase Galleria, one of the largest shopping centers in the Southeast and Alabama’s top tourist attraction, with 15 million visitors per year. The Riverchase Galleria complex features over 200 retail stores, the Birmingham region’s only Costco, a 15-story Hyatt Regency hotel, and the 17-story Galleria Tower office building. Significant development is also happening near the property, with construction on the 339-acre expansion of the Trace Crossings housing community underway. The property serves as a common gateway to Downtown Birmingham, the most populous city in Alabama (population 209,403), and is centrally located between multiple area attractions, including Oak Mountain Amphitheatre, Hoover Metropolitan Complex, and Autobahn Speedway & Events Center.