LaPlace, LA - Aspen Dental

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, newly built, corporate signed, Aspen Dental investment property located in LaPlace, LA (New Orleans MSA). The tenant, Aspen Dental Management, Inc., recently signed a brand new 10-year lease with 3 (5-year) option periods to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation. The lease is signed by the corporate entity and is NNN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. The building, which opened in April 2023, features a state-of-the-art design using high quality materials. Founded in 1994, Aspen Dental is among the largest general dentistry and denture-related services with over 1,000 locations nationwide.

Aspen Dental is strategically located near the signalized, hard corner intersection of W. Airline Highway and Hemlock Street, averaging a combined 43,800 vehicles passing by daily. W. Airline Highway (36,200 VPD) provides direct access into Downtown New Orleans, making this an ideal, centralized location with easy commutes for both employees and customers. The asset is ideally situated within a dense retail corridor and is within walking distance to Belle Terre Marche (89K+ SF), La Place Center (99K+ SF), Riverlands Shopping Center (206K+ SF), and other shopping centers. The surrounding national/credit tenants include Walmart Supercenter, The Home Depot, ALDI, McDonald’s, Dollar General, CVS Pharmacy, Office Depot, among many others. The dense retail corridor increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, Aspen Dental is within proximity to numerous single-family communities and multi-family complexes including River Oaks (59 units), Normandy Village (60 units), Place Dubourg (116 units), and others, providing a direct residential consumer base for the site. The 5-mile trade area is supported by over 39,900 residents and 13,800 daytime employees, with an annual average household income of $85,622.