Heartland Dental - Abs. NNN - Evansville, IN
Meijer and Menards Outparcel
Marketing description
Rare Abs. NNN Lease Structure: The tenant is responsible for all maintenance and operating expenses providing completely passive ownership.
Investment highlights
Corporate Lease: Recently signed 12-year lease with Heartland Dental, the largest DSO in the country, operating over 1,800 locations across 38 states. The company generated approximately $1.2 billion in 2024 revenue.
Grocery and Home Improvement Outparcel: The property is situated off of N. Green River Rd (25,000 VPD) and benefits from anchors Menards and Meijer, as well as having Schnucks, McDonalds, Chipotle, Freddy’s, Burger King, Panda Express, and AutoZone all nearby.
Excellent Rent Growth: The lease calls for two primary term rent increases (years 6 & 11) with escalations in each option period, providing superior rent growth in the back half of the primary term and option periods.
Newer Construction: The property was built in 2023 featuring Heartland Dental’s current prototype building and high-end design. The tenant invests significant capital in their upfit, making their cost to relocate expensive.
Convenient Interstate Access: The site is strategically positioned within a 7-minute drive of two I-69 interchanges, providing easy access for local and commuting patients.
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