Rare Absolute Net Lease with 2.50% Annual Increases
– The lease includes rare 2.50% annual rent increases to hedge inflation and one, ten-year option period.
– The tenant is responsible for all maintenance, repairs and replacements related to the property. Additionally, the tenant is responsible for paying the real estate taxes, insurance, common areas, making this a truly passive investment.
Corporate Guaranty from the Largest Dental Organization in the U.S. (1,800+ Locations)
– Corporate backed lease from Heartland Dental, the largest dental support organization in the U.S., operating over 1,800 practices nationwide.
– Heartland Dental is continuously expanding. Over the years, the company has acquired or partnered with hundreds of dental practices, significantly increasing its footprint and influence in the industry.
– Heartland Dental was acquired by private equity firm Kohlberg Kravis Roberts (KKR) in 2018. KKR is one of the largest and most well-known private equity firms globally, which brings significant financial resources to Heartland Dental.
Healthcare Industry is Stable and Recession-Resistant
– Dental care is a basic healthcare need, and demand for dental services tends to remain strong even during economic downturns. People still need regular checkups, cleanings, and treatments, making
dental practices more resilient compared to other retail or office spaces.
– As the U.S. population ages, the demand for dental services is expected to continue growing, especially in areas that are underserved in terms of healthcare providers. Heartland Dental’s presence in
these areas makes it a reliable tenant for property owners.
Abundance of National Retailers in Immediate Proximity and Close to Multiple Public Schools
– National retailers in immediate proximity include Walmart SuperCenter, Lowe’s, Hobby Lobby and many more.
– In addition to the robust retail in the immediate area, the property also benefits from over 20,000 cars per day on SE Washington Blvd.
Located in Outside of the Tulsa MSA
– Known as the Oil Capital of the World, after oil was discovered in the region in 1901, the Tulsa metro has grown to a population of 1 million residents.
– The market is composed of Tulsa, Osage, Okmulgee, Rogers, Wagoner, Creek and Pawnee counties in northeastern Oklahoma, an area commonly referred to as Green Country for its vegetation, hilly
terrain and numerous lakes.
– The city of Tulsa is home to the largest share of residents in the metro, with almost 409,000 inhabitants, solidifying it as the second-largest municipality in the state of Oklahoma.
