The Boulder Group has completed the sale of a new construction single tenant Heartland Dental property located at 25222 FM 1093 in Katy, TX for $3,203,000. The Boulder Group’s Jimmy Goodman and Zach Wright represented the seller in the transaction. The seller was a Northeast-based real estate development company and the purchaser was an all-cash California-based investor in a 1031 exchange. This is the 2nd brand-new construction Heartland Dental property that The Boulder Group has sold in the past few months.
The Heartland Dental property is in an extremely affluent area with average annual household income of approximately $190,000 within three miles. The property is positioned as an outparcel to a Lowe’s and is in a regional retail corridor that also includes H-E-B, Kroger, Academy Sports, and Walgreens.
The property features a new 10-year net lease. The lease includes 10% rental increases every five years and is corporately guaranteed. Heartland Dental is the largest dental support organization in the U.S. with over 1,700 locations across 38 states. The company is primarily owned by KKR, the largest global investment company in the world with approximately $500 billion under management.
“Well-located new construction single tenant properties remain highly sought after amongst 1031 buyers. This was an off-market transaction consummated through our national relationships with developers, buyers, and buyer’s brokers,” stated Zach Wright, Vice President.
“Single tenant medical properties, such as Heartland Dentals, have become increasingly popular due to their service-based use, expensive buildouts, and long-term historical occupancies,” added Jimmy Goodman, Partner.
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high-net-worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $9 billion of single tenant net lease real estate transactions. From 2013-2023, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
Media Contact
Company Name: The Boulder Group
Contact Person: Zach Wright
Email: Send Email
Phone: 720-604-2220
Address:1805 S Bellaire Street, Suite 355
City: Denver
State: Colorado
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html
