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1472 Jag Branch BlvdKernersville, NC 27284
Heartland Dental | Greensboro, NC MSA | 6.00% Cap
Asset ClassRetail
Cap Rate6%
Heartland Dental | Greensboro MSA | 6.00% Cap
overview of deal

Overview

Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of a Heartland Dental in Kernersville, NC. The Premises is leased to Heartland Dental for a ten year initial term with 8 years remaining. The Asset was recently constructed and is located off of I-40 on an outparcel to a recently delivered multi-family development and is surrounded by hundreds of apartment units, which provides for a built-in customer base.

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Investment Highlights

Attractive Lease Fundamentals

  • NN Lease Provides Minimal Landlord Responsibilities
  • Corporate Guaranty by Heartland Dental
  • 10% Rental Increases every 5 years, including option periods

Corporate Guarantee from Credit Worthy Tenant

  • Heartland Dental is the largest dental support organization in the United States
  • Over 1,700 locations
  • 2023 Total Revenue over $3B

New Construction

  • The building has recently been built to suit the tenant’s need
  • Transferable warranties in place

Surrounded by Hundreds of Apartments

  • Over 900 apartments in close proximity: Outparcel to the Reserve at Smith Crossing, a 376 unit apartment complex
  • Cross access to 1188 at Soloman, a 312 unit apartment complex under construction
  • Across the street from the Grand at Union Cross, a 272 unit apartment complex under construction

Positioned on High Trafficked Retail Corridor

  • Fronting Union Cross Rd (21,000 AADT) and approximately a quarter mile to I-40 (67.5K AADT)
  • Over 277K SF of retail space within a 1-mile radius boasting a 1.4% vacancy rate (costar data)
  • Nearby national tenants include: Ace Hardware, Taco Bell, McDonald’s, and Starbucks

High Growth Triad Area

  • Over 1.7M people live in the Triad
  • The region has over 900K jobs with 2.3% job growth since 2022
  • Toyota is investing over $13.9B in their electric vehicle battery manufacturing facility that will bring over 3K jobs to the region
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1472 Jag Branch BlvdKernersville, NC 27284
The Reserve at Smith Crossing (376 unit apartment)
1188 at Soloman (312 unit apartment)

Sales Team

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Listing provided by Revere CRE