Mission Pet Health

Highlights:

• Strong Lease Fundamentals: 7-year absolute net lease featuring 12% rental increases in year 7 and throughout the option periods
• Corporate Backing: Lease is signed by Southern Veterinary Partners, LLC, one of Mission Pet’s primary corporate operating entities overseeing a large portion of their 970+ location veterinary platform
• Mission Critical Facility: Purpose-built Livewell Animal Hospital representing Mission Pet Health’s strategic de novo expansion platform
• Ideal Positioning: Strategically located along 12300 South with direct access to I-15 (196K+ VPD) and surrounded by a dense concentration of national retailers, restaurants, and daily needs uses
• Private Equity Backing: In December 2024, Silver Lake and Shore Capital Partners struck an $8.6 billion deal to create one of the largest U.S. veterinary care groups (Mission Pet Health) by merging Southern Veterinary Partners and Mission Veterinary Partners
• Staggering Earnings: At the time of the merger, the network of hospitals and clinics spanning 750 locations was generating $580 million in EBITDA
• Expansive Portfolio: Mission Pet Health now consists of 970+ animal care centers across 43 states
• Affluent Residential Demographics: $160-171K average household incomes within a 1, 3, and 5-mile radius of the subject property
• Dense National Retail Presence: The surrounding trade area features major retail destinations such as Draper Crossing and Draper Peaks, with nearby national retailers driving traffic to the area including Smith’s, Kohl’s, T.J. Maxx, and Ross
• Highly Desirable Salt Lake Valley Location: Draper is strategically located in the southeastern Salt Lake Valley, 18.1 miles south of Downtown Salt Lake City, combining an affluent residential base with metropolitan accessibility

Description:

Rare opportunity to acquire a mission-critical veterinary facility in an affluent, high growth Utah market. This is a brand-new 7-year absolute net lease featuring 12% rental increases throughout the base term and options and backed by one of Mission Pet’s primary corporate operating entities – Southern Veterinary Partners, LLC.

The subject property is ideally positioned along the heavily trafficked 12300 South retail corridor in Draper, less than two miles east of I-15 (196K+ VPD) and surrounded by a dense concentration of national retailers, restaurants, and daily needs uses. The corridor itself is exposed to over 34,000 VPD and serves as one of Draper’s primary commercial thoroughfares.

Tanner Olson
Legend Commercial
tolson@legendcommercial.com
PH: 206.330.1614
UT LIC# 9868653-SA00

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