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Aspen Dental, Conway, SC

Aspen Dental

SC, United States

Price $1,884,615
Cap Rate
NOI
Lease Term 10 Years
Lease Type
Rental Increases 10% rental increases in option periods
Year Built 2016
Building Size 3,500 sq. ft.
Lot Size 0.65 Acres (28,314 sq. ft.)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

NEW 10-YEAR CORPORATE LEASE TO FAST-GROWING TENANT
» 10-year lease to Aspen Dental
» Aspen Dental operates over 500 locations in 33 states, with new locations opening weekly
» Aspen Dental had 3.7 million patient visits and 785,000 new patients in 2015

HIGH-TRAFFIC LOCATION NEAR MAJOR NATIONAL TENANTS
» 29,900 vehicles per day directly in front of the site
» Church Street / U.S. Highway 501 is one of the main corridors from Interstate 26 to Myrtle Beach
» Directly across from Walmart Supercenter-anchored retail center

LOCATED IN MYRTLE BEACH MSA
» Major center of tourism in the U.S., with 14 million visitors per year
» Home to world-class companies like Metglas, BauschLinnemann, STARTEK, and many others
» Named one of Forbes’ “Best Places for Business and Careers”
» The Myrtle Beach MSA experienced population growth of 14.07% from 2010-2015

BRAND NEW 2016 CONSTRUCTION
» Brand new, high-quality construction
» Built to Tenant’s exact specifications and features Aspen Dental’s latest brand designs and concepts
» Brand new building, limiting near-term deferred maintenance or capital costs

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is strategically located on Church Street / U.S. Highway 501, Conway’s main thoroughfare, with access and visibility to 29,900 vehicles per day. The site is directly across from Gateway Plaza, anchored by a Walmart Supercenter and featuring national tenants such as GNC, Sally Beauty Supply, and Rent-A-Center. Other notable tenants in the area include Office Depot, GameStop, Aaron’s, Family Dollar, Goody’s, Belk, and Big Lots, among others.

The Tiger Grand residential community is located behind the property and features newlyconstructed, single family homes. Tiger Grand is an attractive place for families due to its close proximity to elementary, middle, and high schools. The community is still expanding and provides a strong customer base for Aspen Dental. New three, four, and five bedroom homes are also being constructed in the nearby Midtown Village residential community. Conway High School is located just over a mile from the site. The high school has an enrollment of 1,592 students and employs close to 100 staff members.

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