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Single-Tenant Office Medical

Aspen Dental | 2023 Build | 10 Yr NNN | Corp Guarantee

137 Blowing Rock Blvd, Lenoir, NC 28645

Listing Price: $2,748,000

Cap Rate
5.35%
Tenant Name
Aspen Dental
Years Remaining On Lease
9.9
Gross SF
3,500
Guarantor
Corporate Guarantee
Rentable SF
3,500
Price/Gross SF
$785.14
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$42.00

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS Brand new 2023 build-to-suit construction Adjacent to newly developed Chipotle Strong traffic counts of ±29,500 VPD along Blowing Rock Blvd. Ample parcel size of ±0.85 acres Flat topography with strong visibility along Blowing Rock Blvd. Multiple points of ingress/egress PASSIVE LEASE STRUCTURE Corporately guaranteed lease Modified NNN lease structure Initial term of 10 years 3, 5-year renewal options 10% rent escalations every 5 years BEST-IN-CLASS TENANT 2021 revenues of $920 MM 1,000+ locations across 45 states 12,500 employees 2nd largest DSO (dental service organization) in US CALDWELL COUNTY ECONOMIC STRENGTH Caldwell County Top Employers Merchants Distributors, Inc – wholesale grocery distribution Bernhardt Furniture Company – manufacturing, furniture UNC Health – health care Year-over-year GDP growth since 2010 (+30%) Current projected announced/under construction MID – 135+ new jobs, 500,000 SF, $155 MM investment Exela Pharama Sciences – 100+ new jobs, 210,000 SF, $50 MM investment Grand Manor Furniture – 75+ new jobs, 200,000 SF, $12 MM investment

Investment Highlights

  • 2023 CONSTRUCTION
  • FRESH 10-YEAR LEASE
  • PROPERTY INCLUDES BILLBOARD

Exclusively Listed By

  • Jared M. Kaye

    First Vice President Investments

    (678) 808-2821

    Email Jared

    License(s): GA: 348701, FL: SL3224428, SC: 129648, NV: S.0198902

    Atlanta

  • Sonny Molloy

    Senior Managing Director Investments

    (678) 808-2763

    Email Sonny

    License(s): GA: 249161, NC: 262596

    Atlanta

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Financing By

Single-Tenant Office Medical

Aspen Dental | 2023 Build | 10 Yr NNN | Corp Guarantee

Listing Price: $2,748,000

Cap Rate
5.35%
Tenant Name
Aspen Dental
Years Remaining On Lease
9.9
Gross SF
3,500
Guarantor
Corporate Guarantee
Rentable SF
3,500
Price/Gross SF
$785.14
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$42.00

Investment Highlights

  • 2023 CONSTRUCTION
  • FRESH 10-YEAR LEASE
  • PROPERTY INCLUDES BILLBOARD

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS Brand new 2023 build-to-suit construction Adjacent to newly developed Chipotle Strong traffic counts of ±29,500 VPD along Blowing Rock Blvd. Ample parcel size of ±0.85 acres Flat topography with strong visibility along Blowing Rock Blvd. Multiple points of ingress/egress PASSIVE LEASE STRUCTURE Corporately guaranteed lease Modified NNN lease structure Initial term of 10 years 3, 5-year renewal options 10% rent escalations every 5 years BEST-IN-CLASS TENANT 2021 revenues of $920 MM 1,000+ locations across 45 states 12,500 employees 2nd largest DSO (dental service organization) in US CALDWELL COUNTY ECONOMIC STRENGTH Caldwell County Top Employers Merchants Distributors, Inc – wholesale grocery distribution Bernhardt Furniture Company – manufacturing, furniture UNC Health – health care Year-over-year GDP growth since 2010 (+30%) Current projected announced/under construction MID – 135+ new jobs, 500,000 SF, $155 MM investment Exela Pharama Sciences – 100+ new jobs, 210,000 SF, $50 MM investment Grand Manor Furniture – 75+ new jobs, 200,000 SF, $12 MM investment

Exclusively Listed By

  • Jared M. Kaye

    First Vice President Investments

    (678) 808-2821

    Email Jared

    License(s): GA: 348701, FL: SL3224428, SC: 129648, NV: S.0198902

    Atlanta

  • Sonny Molloy

    Senior Managing Director Investments

    (678) 808-2763

    Email Sonny

    License(s): GA: 249161, NC: 262596

    Atlanta

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

Financing By

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