Heartland Dental | Dallas-Fort Worth MSA
New 12-Year Abs NNN Lease | 43,000+ VPD at Entrance to 3,000+ home Development
Marketing description
Heartland Dental is the largest dental support organization (DSO) in the United States, providing non-clinical administrative services—including operations, technology, marketing, and procurement—to affiliated dental practices. The company was founded in 1997 by Dr. Rick Workman and is headquartered in Effingham, Illinois. Heartland Dental operates through a partnership model that allows dentists to maintain clinical autonomy while receiving operational support. As of 2026, the organization supported more than 3,000 dentists across over 1,850 dental offices in 39 states and the District of Columbia, serving millions of patient visits annually.
Heartland Dental is privately held and majority-owned by global investment firm KKR, with additional ownership by Ontario Teachers' Pension Plan and company leadership; as a result, Heartland itself has no public stock ticker or standalone S&P credit rating, and investors typically evaluate sponsor strength by reference to KKR & Co. Inc. (NYSE: KKR) and its credit profile.
Financially, Heartland Dental has demonstrated strong growth over the past decade, with estimated annual revenue exceeding $4–5 billion and continued expansion in practice affiliations and patient volume. In 2025, the company's network expanded to over 1,850 supported dental practices, reflecting continued momentum in the dental services sector as patient demand for oral healthcare and preventive services increases. The company also continued to invest in technology, staffing platforms, and patient financing tools to support doctors, improve clinical workflows, and remove barriers to care, positioning the business for continued growth in 2026 and beyond.
Backed by significant private-equity capital and a national operating platform, Heartland Dental remains a leading consolidator in the fragmented dental industry, positioning the organization for ongoing growth through new practice development, strategic affiliations, and expanded clinical technology adoption.
Investment highlights
- New 12-year corporate absolute NNN lease to Heartland Dental, the largest dental support organization in the U.S. with more than 1,850 supported dental offices.
- Localized Branding Strategy: Although backed by Heartland Dentals national infrastructure and credit strength, each practice is intentionally branded and operated with a localized identity designed to align with the surrounding community.
- Landlord-friendly rental increases - 10% rental bumps every five years and an additional 10% increase in Year 11, with the next increase in the start of the option period (Year 13).
- Tenant covers all taxes, insurance, and maintenance, including roof, structure, and parking lot, providing a fully passive investment.
- Heartland Dental is majority owned by KKR, the largest global investment company in the world with over $504B under management.
- Heartland Dental added 165 new practices to its network in 2025: 75 new de novo (built-from-scratch) practices, 33 practices through strategic affiliations, and 60 practices via the acquisition of Smile Design Dentistry.
- Heartland's supported network delivered more than $4.2 billion in total annual revenue, underscoring its scale and influence in the U.S. dental industry.
- Highly visible and easily accessible location along State Route 78, which experiences a high traffic count of 43,000+ vehicles per day.
- Located at the entrance to Grand Heritage North (3,000+ total homes), allowing for ideal regular business generation through high-traffic exposure residential.
- Surrounded by new construction and development on all sides, with a proposed big box retail center directly across the highway, new multifamily housing development directly east, and a future business park & data center directly southeast.
- The trade area has undergone transformative expansion, with the population within a five-mile radius surging to 51,003 residents — an exceptional 99% increase since 2010.
- Residential development momentum remains extraordinarily strong, evidenced by an average delivery pace of approximately 70 new single-family homes per month over the past six months.
- The property benefits from affluent surrounding demographics, supported by an impressive average annual household income of $153,054 within five miles.
- Forecasted gains in population and household income across the 1-, 3-, and 5-mile trade areas position both Heartland Dental and Lavon for sustained long-term growth and consumer demand expansion.
- New 2026 construction built to the latest Heartland Dental prototype.
- 4,260-SF building to accommodate for the ideal Heartland Dental patient experience.
- Located on an efficient 0.97-acre parcel, allowing for both an abundance of parking and ease of access.
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