DEALS

Deals

Aspen Dental – Plant City, FL

THE OPPORTUNITY

  • Net Leases
  • Aspen Dental leases are Corporately guaranteed
  • 10 Year Initial Term through 1/31/28
  • Aspen Dental operates 1000 locations 
  • One of the largest Healthcare Retailers in the country
  • 10% Rent escalations in years 6-10
  • Landlord Responsibilities:
  • Roof, Structure 
  • Three 5-year options
  • 10% Rent escalations in every option​​

THE HIGHLIGHTS

  • Excellent visibility from James L. Redman Pkwy 
  • High traffic counts of 26,328 ADT
  • Center is located along one of the major retail corridors in the market
  • Area retailers include Walmart, Lowes, Winn Dixie, Ross
  • Outparcel to Lowes with interconnectivity to the Lowes property
  • Constructed in 2018
  • Market rents in the submarket have grown by 7.8% in the past 12 months
  • Vacancy rates in the MSA are below 3.3%

THE DEAL POINTS

  • Cap Rate: 5.50%
  • Price: $2,775,000
  • Year Built: 2018
  • NOI: $152,625
  • Occupancy: 100%
  • Square Footage: 3,750 SF

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