Aspen Dental & Five Guys

Horvath & Tremblay is pleased to present the exclusive sale of a new construction, two-tenant plaza located at 602-604 N Berkeley Boulevard in Goldsboro, North Carolina (the “Property”).​ The build to suit, two-tenant plaza is improved with Aspen Dental & Five Guys and contains 5,894 square feet.​ Aspen Dental has 10+ years remaining on their Double Net (NN) Lease with three (3), 5-year renewal options.​ Five Guys has 10+ years remaining on their Double Net (NN) Lease with three (3), 5-year renewal options.​ Both leases feature attractive 10% rent increases throughout the primary lease and at the start of each renewal option.​

The new construction Property is extremely well-located along Berkeley Boulevard, the area’s primary commercial corridor.​ The Property is positioned in the heart of a large commercial cluster centered at the junction of US Route 13 and US Highway 70.​ Aspen Dental and Five Guys are surrounded by national and local retailers and restaurants and across the street from the 458,000 SF Berkeley Mall, all of which drive traffic to the area and provide a built-in customer base.​ The Property offers convenient access to US Highway 70, US Routes 13 and 117, and Interstates 42 and 795, as well as to UNC Health Wayne (Hospital and Medical Center), area schools, and Seymour Johnson Air Force Base, the area’s largest employer.​

NEW CONSTRUCTION – LONG TERM LEASES: Aspen Dental has 10+ years remaining on their Double Net (NN) Lease with three (3), 5-year renewal options. Five Guys has 10+ years remaining on their Double Net (NN) Lease with three (3), 5-year renewal options.

ATTRACTIVE RENT INCREASES: Aspen Dental’s lease feature attractive 10% rent increases every five years throughout the primary lease terms and at the start of each renewal option. Five Guys’ lease calls for a 10% rent increase after year 6 of the primary lease term and at the start of each of their renewal options providing the investor with an attractive increase in revenue and a hedge against inflation.

DYNAMIC CORPORATE TENANTS: Aspen Dental is one of the nation's largest dental support organizations with over 1,000 locations across 46 states. The company is owned by TAG (The Aspen Group), which owns and operates Aspen Dental, ClearChoice Dental Implant Centers, WellNow Urgent Care, Chapter Aesthetic Studio and AZPetVet. Five Guys is a fast-casual restaurant chain focusing specifically on burgers and fries and has more than 1,860 locations worldwide with 1,450 locations in the United States. The company plans to continue its aggressive expansion throughout 2025.

MINIMAL LANDLORD RESPONSIBILITIES: Aspen Dental & Five Guys have Double Net Leases with minimal Landlord responsibilities. The tenants are responsible for all operating expenses and maintenance of the property, the Landlord is responsible for the roof and structure. Both Tenant’s also have a 5% CAM Cap on controllable operating expenses.

STRATEGIC RETAIL LOCATION: The new construction Property is seconds from the junction of US Highway 70 and US Route 13, the area’s primary commercial and commuter corridors. The Property is surrounded by national retailers and restaurants, enjoys proximity to area public schools and is within 2.5-miles of Seymour Johnson Air Force Base, 3.5-miles of UNC Health Wayne (Hospital & Medical Center), and 3.8-miles of Wayne Community College. Additionally, the Property is 3.5-miles from Interstate 42 and 4.9-miles from Interstate 795.

SEYMOUR JOHNSON AIR FORCE BASE: The Property is 2.5-miles from Seymour Johnson Air Force Base, a tactical air-command and active air-combat base. Positioned on 3,216 acres, the base is home to 4,330 active-duty members, more than 6,000 family members and an additional 1,800+ reservists and civilians. The Seymour Johnson Air Force Base is one of the area’s largest economic drivers. The Air Force Base provides not only direct employment opportunities but also supports a range of secondary services and industries, significantly boosting the local economy.

TRAFFIC COUNTS: Approximately 29,600 vehicles pass the Property each day along N Berkeley Boulevard. An additional 30,000 vehicles pass near the Property along US Highway 70.

DEMOGRAPHICS: Over 32,100 people live within 3 miles of the Property with an average household income of $77,384. More than 45,800 people live within 5 miles of the Property with an average household income of $77,311.

RETAIL TRADE AREA: Retailers bringing consumers to the retail trade area include Berkeley Mall, Walmart Supercenter, Target, Lowe’s, Sam’s Club, Hobby Lobby, TJ Maxx, Ross, pOpshelf, Dunham Sports, Planet Fitness, Dollar General, O’Reilly Auto Parts, AutoZone, Texas Roadhouse, Outback Steakhouse, Longhorn Steakhouse, Olive Garden, Panera, Chipotle, Chick-fil-A, Starbucks, McDonald’s, Taco Bell, Popeyes, Sonic, Bojangles, Zaxby’s, Jersey Mike’s, Panda Express, IHOP, Waffle House, Cook Out, Pizza Hut, Dunkin’, Krispy Kreme, and Sheetz.