Heartland Dental,
Colorado Springs, CO Investment Summary
| Price | $2,676,000 |
| Cap Rate | 5.50% |
| NOI | $147,150 |
| Lease Term | 10 Years |
| Lease Type | Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Roof And Structure |
| Rental Increases | 10% Rental Increases Every Five Years Including Options |
| Year Built | 2022 |
| Building Size | 3,270 SF |
| Lot Size | 0.78 Acres (33,977 SF) |
| Status | Under Contract |
| Lead Brokers | Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Jack Hinson Brokerage 704.572.9921 jack.hinson@cushwake.com CA RE License #02059267 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 |
Investment Highlights
NEW 10-YEAR CORPORATE NET LEASE WITH SCHEDULED RENTAL INCREASES
» Leased to Heartland Dental for 10 years plus four (4) five-year options
» 10% fixed rental increases every five years in initial term and extension terms
» Heartland Dental, LLC is the largest dental support organization in the U.S., with more than 1,700 supported dental offices located in 38 states
» 2022 construction built to Heartland Dental’s latest prototype
» Heartland Dental is majority owned by KKR, the largest global investment company in the world with over $496 billion under management
» Heartland Dental continues impressive national growth with more than 87 new locations opened in 2022
HIGHLY AFFLUENT AREA NEAR MAJOR RETAILERS & U.S. AIRFORCE ACADEMY
» Less than a five-minute drive from the U.S. Airforce Academy (4,400+ students and 500+ employees/support personnel)
» High-visibility location and excellent demographics with average household incomes in excess of $186,000 within a one-mile radius
» Part of the Monument Ridge Development, including a new 250-unit multi-family complex, 16,000+ SF of shops, and other future national users
» Surrounded by national tenants including McDonald’s, Chase Bank, Walgreens, AutoZone, 7-Eleven, First Bank, Popeyes, King Soopers Supermarket, Starbucks, Walmart Supercenter, Home Depot, Kohl’s, and many others
» Several planned housing developments adjacent to the property providing continuing growth and customer support
HIGH-TRAFFIC LOCATION SURROUNDED BY MAJOR NEW DEVELOPMENTS
» Located just off the hard signalized intersection of Baptist Road and Struthers Road with 22,000 vehicles per day
» 0.3 miles from Interstate 25, which has a high traffic count of 70,000 vehicles per day
» Within 1.5 miles from the future Forest Lakes development, a master planned community with over 1,000 acres and future site of over 500 homes, along with a 275-acre retail/office/industrial business park
» Across the street from a future 40-acre residential development
Property Description
» Excellent visibility and access along Baptist Road. Heartland Dental benefits from the daily visibility
» Part of the Monument Ridge Development, including a new 250-unit multi-family complex, 16,000+ SF of shops, and other future national users
» Within 1 mile from the future Conexus development, a 170-acre industrial and commercial business park
» Within 1.5 miles from the future Forest Lakes development, a master planned community with over 1,000 acres and future site of over 475 homes, along with a 275-acre retail/office/industrial business park
