The PARC - NNN Veterinary Hospital & Pet Resort - DFW MSA
2 Property Portfolio | NNN Leases | 2.75% Annual Increases | Corp Guaranty (±400 Locations)
Marketing description
The PARC represents a modern, forward-thinking vision for veterinary care—one built around the belief that pets are family, and that caring for them means caring for their people, too. Their philosophy underscores the “space between” — the bond between pets and their owners—and demonstrates that compassionate, transparent, and cutting edge animal care can also deliver a deeply human experience.
The PARC Veterinary Collection comprises two complementary, purpose-built pet-care facilities positioned side-by-side in the heart of Fort Worth’s rapidly growing medical and residential corridor. The portfolio features The PARC Express, a modern, high efficiency general care and wellness clinic designed for speed, accessibility, and exceptional client experience, alongside The PARC Grand Resort, Fort Worth’s premier luxury pet-boarding and grooming destination offering resort-style amenities, species separated wings, and elevated, comfort-focused care. Together, these assets create a uniquely synergistic veterinary and pet-care ecosystem—capturing both routine healthcare and lifestyle-driven services in one of the nation’s fastest-growing metropolitan areas.
The PARC Veterinary Collection supports a full spectrum of services: general care, wellness/preventive medicine, boarding, grooming, and more. This breadth of services not only generates multiple revenue streams, but also builds deep loyalty and high utilization among pet owners—because The PARC is their one-stop shop for lifelong care.
The properties may be purchased individually or together as part of a portfolio.
PROPERTY HIGHLIGHTS
THE PARC EXPRESS | 3201 HULEN ST
Purpose-Built for Speed, Efficiency & Client Convenience - The PARC Express was uniquely designed as a fast-cycle wellness and routine-care clinic, tailored for pet owners who prioritize efficiency and predictability in their veterinary visits.
Consumer-Driven Model Based on Local Survey Data - Ownership surveyed local pet owners and found “speed” was the top priority — fast, seamless visits in 15 minutes or less. The clinic’s operational flow was further inspired by the quick, reliable service model of the Chick-fil-A directly across the street, shaping a highly efficient, customer-centric design.
20-Minute Appointment Standard -These combined insights shaped The PARC Express into a high-efficiency clinical model, offering appointments designed to start on time and finish in roughly 20 minutes, maximizing convenience and client satisfaction.
42,000 Vehicles Per Day - Located along Hulen Street, the property sits within one of Fort Worth’s most established and consistently traveled retail corridors, supported by dense surrounding neighborhoods and steady daily traffic.
THE PARC GRAND RESORT | 4529 DONNELLY AVE
Fort Worth’s Premier Destination for Pet Boarding - Located immediately next door to the Express clinic, The PARC Grand Resort serves as Fort Worth’s leading luxury boarding facility for dogs and cats. Open 7 days a week, the Resort provides premium care and comfort-driven amenities in a purpose-built, safe, and enjoyable setting.
Purpose-Built, Species-Separated Wing Design -The building features separate wings for dogs and cats, ensuring quieter environments, lower stress levels, and superior comfort tailored to each animal's needs.
High-Touch, Personalized Care - Pets receive individualized attention and care routines designed around their temperament and wellbeing—positioning the facility at the top of the local boarding market.
Full-Service Grooming & Spa Offerings - In addition to boarding, the facility provides comprehensive grooming services including salon baths, haircuts, nail trims, and specialty grooming, creating multiple additional revenue streams.
Resort-Style Amenities - The PARC Grand Resort features a dedicated dog pool, offering supervised swim time that provides exercise, enrichment, and a fun, low-impact activity for boarding pets. This unique amenity enhances the resort’s premium positioning and sets it apart from standard boarding facilities.
Two-Asset Veterinary Portfolio - Together, The PARC Express and The PARC Grand Resort form a fully integrated, aligned veterinary campus – delivering everyday care and luxury boarding under one trusted brand. These properties are available individually or as part of a portfolio.
LEASE HIGHLIGHTS
Minimal Landlord Responsibilities - Featuring above average annual rent escalations of 2.75% and a lease structure that limits ownership obligations solely to the foundation, exterior walls, roof, and other structural components, the property offers a highly passive investment profile with consistent income growth.
Private Equity Sponsorship - A $2.65 Billion Commitment – In April 2020, TSG Consumer Partners, a top-tier private equity firm, acquired a majority stake in Pathway Vet Alliance (now Thrive Pet Healthcare) from Morgan Stanley Capital Partners in a transaction valued at approximately $2.65 billion.
Secure Financial Backing - TSG Consumer Partners (± $14 Billion of assets under management), known for backing iconic consumer facing brands (Planet Fitness, Dutch Bros Coffee, VitaminWater, etc.), brought capital and strategic guidance to accelerate the company’s evolution into the nationally recognized brand it is today.
Strategic, Side-by-Side Location of Express + Resort - With wellness care at the Express and boarding/grooming at the Grand Resort, the two facilities complement each other’s demand drivers, boosting customer flow and supporting durable lease performance.
Investment highlights
TENANT HIGHLIGHTS
Recent $350 Million Capital Raise - In March 2025, Thrive Pet Healthcare secured $350M in new funding to drive continued growth and expansion.
National Scale - Thrive Pet Healthcare operates ± 400 veterinary hospitals across the United States, serving millions of pets annually.
Workforce of 8,000+ - With thousands of veterinary professionals nationwide, Thrive is backed by clinical depth and centralized operational support.
Robust Industry Growth - The global veterinary services market, valued at $150 billion in 2024, is projected to grow at a 7.45% CAGR from 2023 to 2030.
Strategic Retail Integration with Petco - Thrive operates nearly 100 in-store clinics through a joint venture with Petco, expanding brand visibility and customer convenience.
Key Pet Ownership Statistics in the U.S.
— 71% of households in the US, or 94 million households, own a pet. This increase in pet ownership trend has fueled demand for veterinary services, including preventive care, diagnostics and treatments.
— The average US dog owner spends about $2,524 per year on recurring pet costs.
— People spent $147 billion on pets in 2023, and $152 billion on pets in 2024.
LOCATION HIGHLIGHTS
3rd Fastest Growing MSA in the United States - The Dallas-Fort Worth MSA is the 3rd fastest-growing metro area in the nation, adding ±178,000 new residents between 2023 and 2024. Between 2018 and 2024, DFW attracted 100 new corporate headquarters and is now also home to 22 Fortune 500 companies and 48 Fortune 1000 headquarters, reinforcing its position as one of the nation’s most dynamic business hubs.
The Great State of Texas - Texas is the 2nd largest economy in the U.S. with a GDP exceeding $2.7 trillion. A top-ranked business climate with no state income tax, Texas has been recognized as the Best State for Business for the past 21 years by Chief Executive Magazine. Texas’s pro-business policies and resident-friendly regulations have fueled both corporate relocations and population influx. U.S. Census Bureau data shows that between July 1, 2022, and July 1, 2023, Texas added ± 470,000 new residents.
Affluent Demographics - The property caters to over 273,963 residents within a 5-mile radius and 770,929 residents within a 10-mile radius. The average household income within a 2-mile radius is $110,742.
High-Traffic Corner - Positioned at one of the busiest intersections in the West Fort Worth trade area, The PARC Express and The PARC Grand Resort benefit from ±42,130 vehicles per day, driven by constant circulation from nearby retail, restaurant, and neighborhood traffic. The site’s corner placement enhances visibility, ease of access, and repeat exposure to thousands of local pet-owning households.
Directly Across From Chick-Fil-A (High-Velocity Traffic Generator) - The PARC Express sits directly across the street from a top-performing Chick-fil-A, a brand known for producing some of the highest car-count and drive-thru throughput in the U.S. This location benefits from continuous vehicle circulation, brand visibility, and spillover traffic from one of the busiest quick service restaurants in the area.
Prominent Two-Site Brand Positioning - The side-by-side placement of The PARC Express and The PARC Grand Resort creates a concentrated brand presence with dual signage and frontage exposure. This highly visible cluster strengthens recognition and positions the properties as an established, go-to resource for wellness care and premium boarding in the immediate trade area.
Minutes to Major Retail Anchors - Just south along Hulen Street are major shopping centers, including Hulen Mall, Hulen Pointe, and numerous national retailers (Target, HomeGoods, Academy Sports, etc.), each contributing to steady vehicle flow past the site throughout the day.
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