Prosper, TX - Heartland Dental

Description:

• The tenant recently signed a brand new 10 year lease with 2 (5-year) option periods to extend, demonstrating their commitment to the site
• Lease backed by a corporate guaranty from Heartland Dental, the largest dental support organization in the U.S., operating over 1,600 locations across 38 states
• 10% rental increases every five years throughout the initial term and each option period provide stable, growing cash flow

• Situated directly across from a Kroger-anchored shopping center featuring national tenants including Anytime Fitness, AutoZone and Supercuts
• This Kroger draws over 1.8 million annual visitors and ranks in the top 97th percentile nationally, 98th percentile in Texas, and is the most visited location within a 15-mile radius among comparable Kroger stores
• Located in a dense, high-growth retail corridor with nearby tenants including Chase Bank, Wash Master Car Wash and Pizza Hut
• The retail corridor is rapidly expanding, with multiple new developments underway or proposed, including:
- Victory Shops at Frontier Parkway (under construction), featuring numerous national tenants such as Dunkin’, Jersey Mike’s and 7-Eleven
- The Crossing at Moore Farm (proposed), with planned tenants including Academy Sports, Five Below and Chipotle, among others
• Surrounded by established neighborhoods such as Lakes of Prosper (643 lots), Villages at Prosper Trail (170 lots), and Ariana Estates (147 lots)
• New communities under construction or planned include Idle Creek (192 lots) and Cambridge Park Estates (192 lots), both wrapping around the subject property